Financial Performance - The company's operating revenue for Q1 2025 was ¥82,934,740.57, representing a 31.78% increase compared to ¥62,934,793.37 in the same period last year[4] - The net profit attributable to shareholders was -¥589,132.26, an improvement from -¥4,823,123.80 year-on-year[4] - Net profit for Q1 2025 was -¥625,422.21, an improvement from -¥4,803,131.76 in Q1 2024[17] - Operating profit for Q1 2025 was ¥829,928.95, compared to a loss of -¥3,847,804.71 in Q1 2024[17] - The company reported a total comprehensive income of -¥498,662.02 for Q1 2025, improving from -¥4,671,947.36 in Q1 2024[17] - Basic and diluted earnings per share for Q1 2025 were both -¥0.01, compared to -¥0.05 in Q1 2024[17] Cash Flow - The net cash flow from operating activities was -¥10,073,323.57, slightly worse than -¥9,434,845.81 in the previous year[4] - Cash flow from operating activities showed a net outflow of -¥10,073,323.57 in Q1 2025, slightly worse than -¥9,434,845.81 in Q1 2024[20] - Cash flow from investing activities resulted in a net outflow of -¥76,350,261.84 in Q1 2025, compared to -¥119,224,197.49 in Q1 2024[21] - Cash flow from financing activities generated a net inflow of ¥2,804,036.07 in Q1 2025, contrasting with a net outflow of -¥4,145,275.36 in Q1 2024[21] - The ending cash and cash equivalents balance for Q1 2025 was ¥96,717,485.68, up from ¥61,628,715.68 in Q1 2024[21] Research and Development - Research and development expenses totaled ¥9,466,307.17, up 13.49% from ¥8,340,918.41 in the same period last year[4] - The proportion of R&D expenses to operating revenue decreased to 11.41%, down 1.84 percentage points from 13.25%[5] Assets and Liabilities - The total assets at the end of the reporting period were ¥783,354,504.95, a decrease of 2.73% from ¥805,335,980.50 at the end of the previous year[5] - Current assets totaled CNY 530,418,763.87, down from CNY 555,040,912.37 in the previous period, indicating a decline of approximately 4.4%[13] - Inventory increased to CNY 78,623,855.61, up from CNY 63,229,957.96, reflecting a growth of about 24.4%[13] - Short-term borrowings rose to CNY 14,066,884.68 from CNY 10,940,241.90, representing an increase of approximately 28.5%[14] - Total liabilities decreased to CNY 207,188,839.84 from CNY 228,445,277.52, a reduction of about 9.3%[14] - The equity attributable to shareholders was ¥575,308,327.10, down 0.12% from ¥575,997,075.01 at the end of the previous year[5] - The company reported a decrease in cash and cash equivalents to CNY 103,524,879.31 from CNY 189,924,049.62, a decline of approximately 45.5%[12] - Accounts receivable decreased to CNY 209,244,977.83 from CNY 216,629,640.02, a decline of about 3.4%[12] - The company’s long-term investments increased to CNY 54,688,217.85 from CNY 53,696,538.60, reflecting a growth of approximately 1.85%[13] - The company’s total liabilities and equity amounted to CNY 783,354,504.95, consistent with total assets, indicating a balanced financial position[15] Sales and Market Performance - The company confirmed an increase in sales revenue from smart grid fault monitoring and automation products due to the recovery in demand for magnetic reluctance motor downstream markets[7] - The company's comprehensive gross profit margin improved by 3.50 percentage points compared to the previous year, driven by higher sales of smart grid fault monitoring and automation products[7] - Total operating costs increased to ¥85,558,817.53 in Q1 2025, up 20.9% from ¥70,818,853.75 in Q1 2024[16]

Financial Performance - The company's operating revenue for Q1 2025 was ¥123,593,161.57, an increase of 4.97% compared to ¥117,742,367.30 in the same period last year[4] - Net profit attributable to shareholders was ¥8,574,764.35, a significant turnaround from a loss of ¥8,953,943.37 in the previous year, representing a 195.77% increase[4] - The basic earnings per share (EPS) improved to ¥0.0647 from a loss of ¥0.0675, marking a 195.85% increase year-over-year[4] - Net profit for Q1 2025 was ¥8,311,708.02, a significant recovery from a net loss of ¥9,038,396.22 in Q1 2024[19] - Operating profit for Q1 2025 was ¥8,374,252.34, compared to an operating loss of ¥9,411,518.95 in Q1 2024[19] - Investment income for Q1 2025 was ¥19,846,595.86, a turnaround from a loss of ¥934,473.48 in Q1 2024[19] - The total comprehensive income attributable to the parent company for Q1 2025 was -7,377,766.28 RMB, compared to 41,840,102.28 RMB in Q1 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities was -¥5,993,770.48, showing an improvement of 82.70% compared to -¥34,650,914.41 in the previous year[4] - In Q1 2025, the company reported a net cash flow from operating activities of -5,993,770.48 RMB, an improvement from -34,650,914.41 RMB in Q1 2024[24] - The company reported a total cash inflow from operating activities of 267,246,263.07 RMB in Q1 2025, down from 281,692,892.48 RMB in Q1 2024[24] - The company incurred total operating cash outflows of 273,240,033.55 RMB in Q1 2025, compared to 316,343,806.89 RMB in Q1 2024, indicating a reduction of about 13.6%[24] - The net cash flow from investing activities was 20,527,520.30 RMB in Q1 2025, a significant recovery from -1,851,642.17 RMB in Q1 2024[24] - Cash and cash equivalents amounted to ¥116,351,248.43, up from ¥90,827,326.71 in the previous period[13] - Cash and cash equivalents at the end of Q1 2025 stood at 114,774,373.64 RMB, an increase from 90,983,088.31 RMB at the end of Q1 2024[25] - The company raised 11,000,000.00 RMB through financing activities in Q1 2025, compared to a net outflow of 16,286.72 RMB in Q1 2024[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,481,511,592.68, reflecting a 1.69% increase from ¥1,456,858,868.61 at the end of the previous year[5] - Total assets as of the reporting date were ¥1,481,511,592.68, an increase from ¥1,456,858,868.61 in the previous period[15] - Total liabilities increased to ¥449,736,739.45 from ¥417,443,192.77, reflecting a rise in current liabilities[15] - The company reported a total equity of ¥1,031,774,853.23, slightly down from ¥1,039,415,675.84[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,662, with the largest shareholder, Shanghai Jinjiang Capital Co., Ltd., holding 50.21% of the shares[9] Other Financial Metrics - The weighted average return on equity (ROE) rose to 0.83%, an increase of 1.9 percentage points from -1.07% in the previous year[4] - The company reported a significant increase in investment income of 2,223.83%, primarily due to receiving stock dividends, which were not present in the same period last year[6] - The company experienced a 67.09% increase in prepaid accounts, attributed to increased tourism business and advance payments to suppliers[6] - The company received government subsidies amounting to ¥125,130.86, which were closely related to its normal business operations[6] - The company’s research and development expenses were not specified but are critical for future growth strategies[19]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 10,563,741,773.40, a decrease of 14.99% compared to CNY 12,427,138,112.32 in the same period last year[3] - Net profit attributable to shareholders was CNY 1,282,880,562.76, down 28.81% from CNY 1,801,992,962.56 year-on-year[3] - Basic earnings per share decreased by 29.03% to CNY 0.44 from CNY 0.62 in the same period last year[3] - Total profit for Q1 2025 was ¥1,900,995,880.05, a decrease of 32.2% from ¥2,804,261,299.43 in Q1 2024[18] - Total comprehensive income for Q1 2025 was ¥1,519,230,377.64, compared to ¥2,192,693,588.24 in Q1 2024[18] Cash Flow - The net cash flow from operating activities increased by 28.69% to CNY 2,077,486,405.61, compared to CNY 1,614,319,349.31 in the previous year[3] - Cash flow from operating activities for Q1 2025 was ¥2,077,486,405.61, an increase of 28.7% from ¥1,614,319,349.31 in Q1 2024[23] - Cash inflow from financing activities amounted to 3,377,532,677.90, down from 6,534,199,166.60[24] - Net cash flow from financing activities was 1,608,778,801.11, a decrease from 2,694,201,712.74[24] - The net increase in cash and cash equivalents was 2,642,883,249.82, compared to 3,593,044,969.75 in the prior period[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 87,210,644,819.97, reflecting a 3.92% increase from CNY 83,923,808,923.83 at the end of the previous year[4] - Total liabilities increased to 28,381,229,555.77 CNY from 26,914,402,737.46 CNY, reflecting a rise of approximately 5.5%[14] - Non-current liabilities rose significantly to 16,007,234,814.66 CNY from 13,127,332,974.40 CNY, representing an increase of approximately 21.5%[14] - The company's total equity increased to 58,829,415,264.21 CNY from 57,009,406,186.37 CNY, showing a growth of about 3.2%[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,270[7] - The largest shareholder, Inner Mongolia Yitai Group Co., Ltd., holds 54.62% of the shares, totaling 1,600,000,000 shares[7] Market and Strategic Plans - The company reported a decrease in coal sales prices as the primary reason for the decline in revenue and net profit[6] - The company has ongoing plans for market expansion and new product development, although specific details were not disclosed in the conference call[9] - The company is focusing on strategic acquisitions to enhance its market position and operational capabilities[9] Research and Development - Research and development expenses for Q1 2025 were ¥100,739,160.55, up 22.7% from ¥82,070,126.36 in Q1 2024[17] Inventory and Cash Management - The company reported a decrease in inventory to 863,877,007.42 CNY from 1,194,622,365.86 CNY, a decline of approximately 27.7%[12] - Cash and cash equivalents rose to 18,106,427,711.39 CNY, compared to 14,885,510,100.32 CNY at the end of 2024, marking an increase of about 21.5%[12]

Financial Performance - The company's operating revenue for Q1 2025 was ¥133,134,354.14, representing a decrease of 34.17% compared to the same period last year[4] - Net profit attributable to shareholders was ¥9,435,260.98, down 74.04% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥4,969,693.94, a decline of 84.56% compared to the previous year[4] - Basic and diluted earnings per share were both ¥0.0204, reflecting a decrease of 79.23% from the same period last year[4] - The company's net profit for Q1 2025 was a significant decrease from ¥36,348,044.76 in Q1 2024, representing a decline of approximately 74%[19] - The total operating profit for Q1 2025 was CNY 9,413,825.45, down from CNY 41,254,886.00 in Q1 2024, indicating a decrease of about 77%[19] - The total revenue from sales of goods and services received in Q1 2025 was CNY 62,976,924.78, down from CNY 93,021,358.26 in Q1 2024, indicating a decrease of about 32%[22] - The company reported a total comprehensive income of CNY 9,435,260.98 for Q1 2025, down from CNY 36,348,044.76 in Q1 2024, reflecting a decline of approximately 74%[19] Cash Flow and Assets - The company reported a net cash flow from operating activities of -¥103,304,427.11, indicating a negative cash flow situation[4] - The cash flow from operating activities for Q1 2025 was negative CNY 103,304,427.11, compared to negative CNY 100,079,423.42 in Q1 2024, reflecting a worsening cash flow situation[22] - The total cash and cash equivalents at the end of Q1 2025 stood at CNY 491,002,398.98, down from CNY 619,548,343.82 as of December 31, 2024[15] - The cash and cash equivalents decreased to CNY 491,002,398.98 as of March 31, 2025, from CNY 619,548,343.82 as of December 31, 2024[15] - The total current assets as of March 31, 2025, were CNY 2,328,090,312.62, slightly down from CNY 2,361,944,186.47 as of December 31, 2024[15] - The total assets at the end of the reporting period were ¥3,329,840,226.92, a decrease of 1.18% from the end of the previous year[5] - The total assets as of March 31, 2025, were CNY 3,329,840,226.92, down from CNY 3,369,643,677.01 at the end of 2024[16] Liabilities and Shareholder Information - The total liabilities as of March 31, 2025, were CNY 877,943,731.33, a decrease from CNY 928,080,707.90 at the end of 2024[17] - The company reported a significant reduction in accounts payable, which stood at CNY 286,884,371.32 as of March 31, 2025, compared to CNY 288,191,713.76 at the end of 2024[16] - The total number of ordinary shareholders at the end of the reporting period was 17,187[12] Research and Development - Research and development expenses totaled ¥11,058,992.86, accounting for 8.31% of operating revenue, an increase of 1.49 percentage points[5] - Research and development expenses for Q1 2025 amounted to CNY 11,058,992.86, a decrease of 19.8% compared to CNY 13,790,393.20 in Q1 2024[18] Other Financial Metrics - The weighted average return on equity was 0.39%, down 1.72 percentage points year-on-year[4] - Interest expenses for Q1 2025 were CNY 1,740,331.84, compared to CNY 2,028,572.80 in Q1 2024, showing a reduction of approximately 14%[19] - The company incurred credit impairment losses of CNY -13,684,986.39 in Q1 2025, worsening from CNY -11,027,703.20 in Q1 2024[19] - The total cash outflow from financing activities in Q1 2025 was CNY 17,019,000.00, compared to CNY 2,256,043.54 in Q1 2024, indicating a significant increase in cash outflows[23] Revenue and Cost of Goods Sold - The cost of goods sold in Q1 2025 was CNY 88,787,416.99, down 28.5% from CNY 124,133,957.99 in Q1 2024[18] - The decrease in revenue and profit was primarily attributed to a phase adjustment in orders from certain downstream markets[10]

Financial Performance - The company's operating revenue for Q1 2025 was ¥110,469,144.20, representing a decrease of 11.76% compared to ¥125,188,118.31 in the same period last year[3] - The net profit attributable to shareholders was -¥33,281,556.45, a significant decline of 2,981.27% from a profit of ¥1,155,098.72 in the previous year[3] - The basic and diluted earnings per share were both -¥0.30, down 3,100.00% from ¥0.01 in the same period last year[3] - The decline in revenue and profit was primarily attributed to intense competition in the downstream market and a decrease in product prices, leading to significant inventory impairment losses[8] - Total operating revenue for Q1 2025 was CNY 110,469,144.20, a decrease of 11.0% from CNY 125,188,118.31 in Q1 2024[14] - Net profit for Q1 2025 was a loss of CNY 33,281,556.45, compared to a profit of CNY 1,155,098.72 in Q1 2024[15] - Basic and diluted earnings per share for Q1 2025 were both CNY -0.30, compared to CNY 0.01 in Q1 2024[15] Research and Development - Research and development expenses totaled ¥28,118,028.96, an increase of 8.42% from ¥25,935,461.42 in the previous year[3] - The ratio of R&D expenses to operating revenue increased to 25.45%, up 4.73 percentage points from 20.72% in the previous year[4] - Research and development expenses for Q1 2025 were CNY 28,118,028.96, up from CNY 25,935,461.42 in Q1 2024[14] Cash Flow and Assets - The net cash flow from operating activities was -¥5,748,368.48, an improvement from -¥15,054,830.31 in the same period last year[3] - Current assets totaled RMB 790,515,636.49, down from RMB 856,083,968.30, indicating a reduction of about 7.7%[12] - Cash and cash equivalents increased to RMB 59,421,420.02 from RMB 57,048,973.23, showing a growth of approximately 4.1%[11] - Inventory decreased to RMB 196,152,581.56 from RMB 228,184,980.27, representing a decline of around 14.0%[12] - Short-term borrowings significantly decreased to RMB 10,008,250.00 from RMB 51,230,007.97, a reduction of approximately 80.5%[12] - The company reported a cash outflow of $2,755,992.66 related to financing activities, which is an increase from $15,762,024.48 in the previous year[18] - The total cash outflow for investment activities was $185,450,617.21, up from $142,768,749.52 in the same quarter last year[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,387,567,556.19, a decrease of 6.59% from ¥1,485,432,000.36 at the end of the previous year[4] - Shareholders' equity attributable to shareholders was ¥1,204,890,618.10, down 2.69% from ¥1,238,252,829.30 at the end of the previous year[4] - The company's total liabilities decreased to CNY 182,676,938.09 from CNY 247,179,171.06 year-over-year[14] - The total liabilities and equity amounted to CNY 1,387,567,556.19, down from CNY 1,485,432,000.36 year-over-year[14] - The company's non-current assets totaled RMB 597,051,919.70, down from RMB 629,348,032.06, indicating a decrease of approximately 5.1%[12] Shareholder Information - The company reported a total of 44,942,501 shares held by Shenzhen Mingwei Technology Co., Ltd., the controlling shareholder[10] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[11] - The company has not identified any other significant operational issues during the reporting period[11]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 395,502,469.68, representing an increase of 11.81% compared to CNY 353,730,388.66 in the same period last year[4] - Net profit attributable to shareholders decreased by 30.47% to CNY 28,092,538.45 from CNY 40,404,237.68 year-on-year[4] - Basic and diluted earnings per share were both CNY 0.20, down 31.03% from CNY 0.29 in the previous year[4] - Total operating revenue for Q1 2025 reached CNY 395,502,469.68, an increase of 11.85% compared to CNY 353,730,388.66 in Q1 2024[14] - Net profit for Q1 2025 was CNY 29,993,169.30, a decrease of 27.58% from CNY 41,349,507.18 in Q1 2024[15] - Basic and diluted earnings per share for Q1 2025 were both CNY 0.20, down from CNY 0.29 in Q1 2024[16] Cash Flow - The net cash flow from operating activities was negative at CNY -84,795,702.92, an improvement from CNY -162,484,149.12 in the same period last year[4] - Cash flow from operating activities for Q1 2025 showed a net outflow of CNY -84,795,702.92, an improvement from CNY -162,484,149.12 in Q1 2024[17] - The company reported a total cash inflow from operating activities of CNY 333,602,690.33 in Q1 2025, compared to CNY 269,647,733.77 in Q1 2024, marking an increase of 23.73%[17] - The net cash inflow from investment activities totaled $10,376,336.20, while cash outflow amounted to $5,625,337.07, resulting in a net cash flow of -$533,857.52 from investment activities[18] - The cash inflow from financing activities reached $211,022,596.21, with cash outflow of $116,856,588.58, leading to a net cash flow of $94,166,007.63 from financing activities[18] - The net increase in cash and cash equivalents was $8,836,447.19, compared to a decrease of $75,678,427.12 in the previous period[18] - The ending balance of cash and cash equivalents stood at $847,318,105.04, up from $838,481,657.85 at the beginning of the period[18] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,248,170,446.29, a decrease of 4.91% from CNY 3,416,063,827.16 at the end of the previous year[5] - As of March 31, 2025, total current assets amounted to CNY 2,957,858,834.83, a decrease from CNY 3,119,212,883.94 as of December 31, 2024, reflecting a decline of approximately 5.2%[12] - Total liabilities decreased to CNY 1,787,048,384.43 in Q1 2025 from CNY 1,959,110,479.11 in Q1 2024, a reduction of 8.77%[14] - Total liabilities included accounts payable of CNY 1,087,219,939.94, which increased slightly from CNY 1,075,283,099.19, indicating a rise of about 1.1%[12] - Total equity increased slightly to CNY 1,461,122,061.86 in Q1 2025 from CNY 1,456,953,348.05 in Q1 2024[14] Research and Development - Research and development expenses totaled CNY 18,658,645.12, accounting for 4.72% of operating revenue, down from 5.82% in the previous year[5] - Research and development expenses for Q1 2025 were CNY 18,658,645.12, down from CNY 20,592,794.37 in Q1 2024, indicating a decrease of 9.37%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,099[9] - The company has no reported changes in major shareholders or significant shareholding activities during the reporting period[10] Operational Efficiency - The company experienced a decline in gross margin, which was the primary reason for the decrease in net profit[7] - Total operating costs for Q1 2025 were CNY 369,979,724.62, up from CNY 316,443,003.07 in Q1 2024, reflecting a growth of 16.91%[14] - Sales expenses for Q1 2025 were CNY 28,464,835.81, a slight decrease from CNY 29,582,894.43 in Q1 2024[15] Other Information - There are no new product launches or technological advancements mentioned in the current reporting period[10] - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[19]

Financial Performance - The company's operating revenue for 2024 reached CNY 56,901.09 million, a 99.13% increase compared to CNY 28,574.83 million in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of CNY 870.81 million, an improvement from a loss of CNY 2,093.91 million in 2023[22]. - The net cash flow from operating activities for 2024 was CNY 1,405.12 million, recovering from a negative cash flow of CNY -1,105.72 million in 2023[22]. - The company's total assets increased by 2.15% to CNY 140,806.82 million at the end of 2024, compared to CNY 137,837.92 million at the end of 2023[22]. - The basic earnings per share for 2024 was -CNY 0.0745, an improvement from -CNY 0.1792 in 2023[23]. - The company's main business gross margin for 2024 is reported at 17.21%, facing pressure from rapid product updates and competitive pricing demands[106]. - The gross profit margin for 2024 was 17.21%, a decrease of 6.87 percentage points from 2023[115]. - The company reported a net profit attributable to the parent company of -8.71 million RMB for the most recent fiscal year, with a total distributable profit of 74.09 million RMB as of December 31, 2024[195]. Research and Development - Research and development expenses accounted for 10.01% of operating revenue in 2024, a decrease of 15.25 percentage points from 25.26% in 2023[23]. - The company added 8 invention patents and 12 utility model patents during the reporting period[34]. - The total investment in R&D for the current period is 431.56 million CNY, with a cumulative investment of 1,133.90 million CNY for the project on probe development[82]. - The total R&D investment for the year was 56.94 million yuan, a decrease of 21.1% compared to the previous year[81]. - The company has established a comprehensive R&D system and laboratory facilities to ensure continuous technological leadership[88]. - The company is focusing on achieving a process yield of over 95% for the high-end chip assembly project[83]. - The company is committed to continuous R&D investment to maintain technological competitiveness, but faces risks if new products do not meet market demands or if R&D does not align with industry trends[98]. Market and Industry Trends - The semiconductor testing industry is experiencing growth driven by the demand for advanced chip performance, with the industry growth rate significantly outpacing GDP growth[55]. - The global semiconductor market is projected to reach $627.6 billion in 2024, representing a 19.1% increase compared to 2023[64]. - China's semiconductor market is expected to grow by 18.3% in 2024, driven by domestic demand and technological upgrades, reaching a sales figure of approximately $179.5 billion[64]. - The MEMS market is dominated by sensors, which account for approximately 70% of the market share, indicating a strong demand for MEMS technology[54]. - The demand for Chiplet technology is increasing, leading to a substantial rise in testing service requirements, particularly in CP testing, where the demand increases exponentially with the number of chiplets[59]. - The MEMS communication market is projected to grow at the fastest rate, with a CAGR of 21%, increasing from $200 million in 2023 to $500 million by 2029[74]. Corporate Governance - The company has received a standard unqualified audit report from Tianheng Accounting Firm[6]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company has established a robust investor relations management framework to engage with shareholders and address their concerns[161]. - The company’s governance structure aligns with regulatory requirements, ensuring independence in operations and decision-making[159]. - The company held 1 shareholders' meeting during the reporting period, with all resolutions passed and no objections raised[162]. Strategic Initiatives - The company aims to focus on market-driven innovation and expansion in response to the recovery in consumer electronics demand and AI-driven industry innovations[24]. - The company is expanding its marketing, R&D, and manufacturing bases in the US, Japan, Switzerland, Singapore, and the Philippines to support future overseas business expansion[37]. - The company is committed to both organic growth and potential mergers and acquisitions to improve efficiency and achieve rapid development[155]. - The company plans to enhance its R&D capabilities by attracting high-end technical talent and improving its R&D environment to maintain competitive advantages[152]. - The company is focused on expanding its market presence and developing new applications, but faces uncertainty in achieving effective customer outreach and market penetration[103]. Risks and Challenges - The company faces risks related to high customer concentration, where significant changes in major customers' procurement policies could adversely affect overall performance[100]. - The company acknowledges the impact of macroeconomic fluctuations on semiconductor demand, which could lead to reduced revenue and profitability[109]. - The company is at risk of inventory impairment due to rapid product updates and potential failure to meet customer order requirements[104]. - The company recognizes the risk of losing key technical talent, which could hinder its ability to innovate and meet customer needs[97]. Employee and Compensation - The company has a total of 723 employees, with 653 in the parent company and 70 in major subsidiaries[183]. - The employee composition includes 206 production personnel, 24 sales personnel, 284 technical personnel, 14 financial personnel, 74 administrative personnel, and 121 R&D personnel[183]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 591.77 million[165]. - Total remuneration for core technical personnel at the end of the reporting period amounted to 2.0217 million RMB[173]. - The average salary for R&D personnel increased from 20.22 thousand RMB to 27.31 thousand RMB, a rise of 35%[86]. Dividend Policy - The company plans to distribute a cash dividend of 0.8 yuan (including tax) for every 10 shares, totaling approximately 9.35 million yuan based on a total share capital of 116,836,789 shares as of December 31, 2024[7]. - The cash dividend policy requires a minimum cash dividend ratio of 80% for mature companies without significant capital expenditure plans[188]. - The cash dividend proposal has been approved by the board and requires shareholder approval at the 2024 annual general meeting[190]. - The company has not proposed a cash profit distribution plan for the reporting period despite having positive distributable profits[192].

Dividend Distribution - The company plans to distribute a cash dividend of 1.6 RMB per 10 shares, totaling approximately 17.66 million RMB, which represents 53.80% of the net profit attributable to shareholders for the fiscal year 2024 [6]. - The total share capital as of April 28, 2025, is expected to be 110,364,881 shares, which will be the basis for the dividend distribution [6]. - The profit distribution plan for the fiscal year 2024 has been approved by the board and will be submitted for shareholder approval [7]. - The company has maintained a consistent approach to dividend distribution, planning to adjust the total dividend amount if the total share capital changes before the dividend record date [6]. - The company has distributed a total cash dividend of RMB 97.461 million from 2020 to 2023, accounting for 29.51% of the cumulative net profit attributable to shareholders during the same period [45]. Financial Performance - In 2024, the company's operating revenue was CNY 356.84 million, a decrease of 18.79% compared to the previous year [24]. - The net profit attributable to shareholders was CNY 32.82 million, down 69.98% year-over-year, while the net profit excluding non-recurring items was CNY 20.62 million, a decline of 78.20% [25]. - The basic earnings per share (EPS) for 2024 was CNY 0.30, a decrease of 69.39% from CNY 0.98 in 2023 [24]. - The company's total assets decreased by 7.00% to CNY 1,004.47 million compared to CNY 1,080.07 million in 2023 [24]. - The net assets attributable to shareholders were CNY 861.33 million, down 3.26% from CNY 890.38 million in 2023 [24]. - The company reported a decrease in other income by CNY 717.97 million, a decline of 27.15% year-over-year, primarily due to reduced government subsidies [25]. - The company achieved a net cash flow from investment activities of CNY 240.24 million, a substantial increase of 288.09% compared to the previous year, mainly due to the maturity of financial products [179]. - The total monetary funds at the end of the period reached 296.91 million RMB, representing 29.56% of total assets, a 117.91% increase from the previous period [198]. Operational Risks - There are no significant risks that could materially affect the company's operations during the reporting period [5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties [10]. - The company has not violated any decision-making procedures regarding external guarantees [10]. - The company has not experienced any changes in governance arrangements that would be considered significant [8]. - The company faces risks related to fluctuations in the supply of key raw materials, particularly chips, which are critical components in its products [163]. - The company has identified risks associated with talent retention in a highly competitive industry, which could impact its R&D capabilities [162]. - The company is exposed to risks from fragmented industrial scenarios, which may increase marginal costs and affect quality management [164]. - The company is at risk of potential changes in tax policies that could lead to increased tax burdens [166]. - The company operates in a competitive environment with increasing market participants, which may affect its market share and profitability [172]. Research and Development - Research and development (R&D) expenses accounted for 20.59% of operating revenue, an increase of 6.6 percentage points from the previous year [24]. - The company invested CNY 73.48 million in R&D, accounting for approximately 20.59% of its operating revenue [39]. - The company has obtained a total of 42 invention patents, 63 utility model patents, 8 design patents, and 150 software copyrights by the end of 2024 [39]. - The company has established a robust R&D team focused on continuous innovation and maintaining a competitive edge in core technologies [150]. - The company applied for 106 new patents this year, with 21 patents granted, bringing the total to 471 applications and 263 grants [138]. - The company is focusing on the development of new AI-based visual inspection system, with an investment of 180 million RMB, aimed at improving quality control in industrial production [146]. Market Expansion and Strategy - The company is actively expanding its market presence and enhancing brand awareness, focusing on both domestic and international markets [34]. - The company is committed to transforming from a single communication product provider to a comprehensive product solution provider, enhancing its solution capabilities [37]. - The company is focusing on expanding its market presence in sectors such as smart manufacturing, intelligent transportation, and renewable energy [123]. - The company aims to enhance its market presence and profitability by expanding into growth markets and optimizing cost control measures [158]. - The company is exploring new applications for its products in various industries, including energy, mining, and smart manufacturing [147]. Product Development and Innovation - The company has launched six integrated product series in industrial digital technology innovation, including data acquisition devices and industrial network equipment [36]. - The company has developed a fully self-researched industrial end-to-end digital infrastructure, supporting digital transformation for multiple industrial enterprises [36]. - The company has developed a high-performance WiFi7 AP for coal mines, supporting the latest WiFi7 standard and achieving unprecedented wireless transmission speeds with a bandwidth of up to 320MHz [126]. - The company has developed a fully autonomous NOS industrial switch operating system, which boasts high efficiency and rapid startup times, applicable in various industrial sectors [121]. - The company has developed a new POE technology that addresses deadlock issues in high-power applications, enhancing reliability [123]. Financial Management - The company has recognized an impairment loss of 17.87 million RMB on long-term equity investments, impacting overall asset performance [196]. - The company has increased its inventory levels in response to market conditions, which may lead to risks of inventory obsolescence if market demand changes [167]. - The company achieved a total R&D investment of ¥73,475,391.09, representing a 19.56% increase compared to the previous year [140]. - The company reported a total revenue of 9,390.00 million RMB, with a net profit of 8,353.37 million RMB, indicating a strong financial performance [147]. - The company has established a comprehensive human resource management system to match its strategic planning, focusing on the development of innovative and composite talent [44].

Financial Performance - The company's revenue for Q1 2025 was CNY 54,919,491.06, representing a 3.94% increase compared to CNY 52,838,542.99 in the same period last year[3]. - Total operating revenue for Q1 2025 was CNY 54,919,491.06, an increase of 3.9% compared to CNY 52,838,542.99 in Q1 2024[15]. - The net profit attributable to shareholders was a loss of CNY 25,865,257.17, an improvement from a loss of CNY 28,507,969.28 year-over-year[3]. - Net loss for Q1 2025 was CNY 27,583,108.21, slightly improved from a net loss of CNY 28,923,012.44 in Q1 2024, indicating a decrease in loss of 4.6%[16]. - The basic and diluted earnings per share were both negative CNY 0.27, unchanged from the previous year[3]. - The basic and diluted earnings per share for Q1 2025 were both CNY -0.27, compared to CNY -0.29 in Q1 2024, indicating a slight improvement[17]. Cash Flow - The net cash flow from operating activities was negative CNY 41,471,972.82, a significant decline of 145.38% compared to a positive cash flow of CNY 91,386,278.55 in the previous year[3][6]. - The company reported a significant drop in cash received from sales, totaling CNY 87,829,556.47 in Q1 2025, down from CNY 218,250,086.21 in Q1 2024, a decline of 59.8%[19]. - Total cash inflow from investment activities was $20 million, down from $140.01 million year-over-year[20]. - The net cash flow from financing activities was $12.27 million, recovering from a negative $8.92 million in the previous period[20]. - Cash outflows for operating activities totaled $130.98 million, slightly up from $130.82 million in the previous period[20]. - Cash inflows from financing activities amounted to $57.26 million, compared to $47.05 million in the previous period[20]. - Cash outflows for investment activities were $3.18 million, significantly lower than $185.64 million in the previous period[20]. - The company reported a decrease in cash received from other investment activities, down to $20 million from $140 million[20]. - The cash paid for purchasing goods and services was $78.46 million, an increase from $71.55 million year-over-year[20]. - The company experienced a cash flow impact from exchange rate changes of $15,091.20, slightly up from $13,758.26[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,112,497,960.40, reflecting a 3.44% increase from CNY 2,042,235,895.46 at the end of the previous year[3]. - The total assets increased to CNY 2,112,497,960.40 from CNY 2,042,235,895.46, marking a growth of 3.5%[13]. - The total liabilities increased to CNY 1,342,847,091.99 in the latest reporting period from CNY 1,216,992,123.45, reflecting a growth of 10.3%[13]. - The total equity attributable to shareholders decreased to CNY 766,433,185.36 from CNY 820,308,859.58, a decline of 6.6%[13]. - Current liabilities decreased from RMB 1,080,000,000 to RMB 1,050,000,000, reflecting a reduction of approximately 2.78%[12]. - The company's short-term borrowings decreased to RMB 130,003,766.66 from RMB 160,147,493.21, a decline of about 18.83%[12]. Research and Development - Research and development (R&D) expenses totaled CNY 11,779,189.93, down 40.01% from CNY 19,633,877.49 in the same period last year, with R&D expenses accounting for 21.45% of revenue, a decrease of 15.71 percentage points[3]. - Research and development expenses were CNY 11,779,189.93 in Q1 2025, down from CNY 19,633,877.49 in Q1 2024, a reduction of 40.1%[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,403[8]. - The largest shareholder, Yang Zhiming, held 29.77% of the shares, totaling 29,102,399 shares[8]. - The company has not reported any significant changes in major shareholders or their participation in margin trading activities during the reporting period[10]. Operational Status - The company is focusing on expanding its market presence and developing new technologies, although specific figures or timelines were not disclosed in the call[10]. - There are no significant reminders or alerts regarding the company's operational status during the reporting period[10].

Financial Performance - The company's operating revenue for Q1 2025 was ¥101,848,794.28, a decrease of 8.10% compared to ¥110,823,663.81 in the same period last year[4] - The net profit attributable to shareholders was -¥22,102,390.63, worsening from -¥4,908,141.11 year-on-year[4] - The net cash flow from operating activities was -¥61,168,351.29, compared to -¥32,572,536.53 in the previous year[4] - Total operating revenue for Q1 2025 was ¥101,848,794.28, a decrease of 8.8% from ¥110,823,663.81 in Q1 2024[15] - Net profit for Q1 2025 was a loss of ¥22,102,390.63, compared to a loss of ¥4,908,141.11 in Q1 2024, indicating a significant decline in profitability[16] - Cash flow from operating activities for Q1 2025 was negative at -¥61,168,351.29, worsening from -¥32,572,536.53 in Q1 2024[17] - The company reported a basic and diluted earnings per share of -¥0.06 for Q1 2025, compared to -¥0.01 in Q1 2024[16] Research and Development - Research and development expenses totaled ¥32,026,135.93, representing 31.44% of operating revenue, an increase of 2.39 percentage points from 29.05%[5] - Research and development expenses for Q1 2025 were ¥32,026,135.93, slightly down from ¥32,189,954.05 in Q1 2024[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,649,319,691.22, a decrease of 0.92% from ¥1,664,581,268.57 at the end of the previous year[5] - The company's current assets totaled RMB 607,879,117.62 as of March 31, 2025, slightly down from RMB 613,103,745.42 at the end of 2024[12] - The total liabilities increased to RMB 231,094,204.60 as of March 31, 2025, compared to RMB 223,583,182.10 on December 31, 2024[13] - The company's equity attributable to shareholders decreased to RMB 1,418,225,486.62 as of March 31, 2025, down from RMB 1,440,998,086.47 at the end of 2024[14] Cash Flow - Cash flow from investing activities generated a net inflow of ¥7,286,830.56 in Q1 2025, compared to a net outflow of -¥53,563,781.45 in Q1 2024[18] - Cash flow from financing activities for Q1 2025 was a net inflow of ¥26,358,927.23, down from ¥49,273,697.55 in Q1 2024[18] - The ending cash and cash equivalents balance for Q1 2025 was ¥127,971,960.89, an increase from ¥112,914,825.14 in Q1 2024[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,162[9] - The largest shareholder, Ankai Technology Company, holds 15.66% of the shares, totaling 61,382,160 shares[9] Competition and Market Conditions - The company experienced increased competition in the semiconductor industry, leading to price pressure on some products and a decline in overall gross margin[7] Other Financial Metrics - The weighted average return on net assets was -1.55%, down 1.23 percentage points from -0.32%[4] - The company reported a decrease in undistributed profits to RMB 31,036,707.51 as of March 31, 2025, down from RMB 53,139,098.14 at the end of 2024[14] - The inventory increased to RMB 217,289,044.43 as of March 31, 2025, compared to RMB 193,273,051.98 on December 31, 2024, reflecting a growth of approximately 12.43%[12] - Short-term borrowings rose to RMB 145,113,787.44 as of March 31, 2025, up from RMB 130,106,516.59 at the end of 2024, indicating an increase of about 11.53%[13] - The company's total non-current assets were RMB 1,041,440,573.60 as of March 31, 2025, slightly down from RMB 1,051,477,523.15 at the end of 2024[12] - Cash and cash equivalents decreased to RMB 197,657,224.14 as of March 31, 2025, from RMB 232,633,451.55 on December 31, 2024, a decline of approximately 15.04%[11] - The accounts receivable increased to RMB 184,220,877.03 as of March 31, 2025, compared to RMB 172,570,857.23 at the end of 2024, reflecting a growth of about 6.92%[11] - The company experienced a significant increase in credit impairment losses, reporting -¥705,210.20 in Q1 2025 compared to a gain of ¥143,248.05 in Q1 2024[15]