Financial Performance - The company's operating revenue for Q1 2025 was CNY 402,838,256.87, representing a year-on-year increase of 7.52% compared to CNY 374,665,999.81 in the same period last year[5]. - The net profit attributable to shareholders decreased by 46.91% to CNY 7,701,600.96 from CNY 14,506,176.77 in the previous year[5]. - The basic and diluted earnings per share decreased by 50.00% to CNY 0.06 from CNY 0.12 in the same period last year[5]. - Net profit for Q1 2025 was ¥8,387,094.19, a decrease of 44.3% from ¥14,992,777.70 in Q1 2024[22]. - The operating profit for Q1 2025 was ¥8,337,952.59, down from ¥14,829,018.78 in Q1 2024, indicating a decline of 43.5%[22]. Cash Flow - The net cash flow from operating activities turned negative at CNY -170,561,806.74, a decline of 363.96% compared to CNY 64,617,510.20 in the same period last year[5]. - Cash received from sales of goods and services in Q1 2025 was ¥126,308,251.68, significantly lower than ¥239,216,668.65 in Q1 2024[24]. - The net cash flow from operating activities was -170,561,806.74, compared to 64,617,510.20 in the previous period[25]. - Cash inflow from investment activities totaled 42,608,305.56, down from 281,225,878.61 in the prior period[25]. - The total cash and cash equivalents at the end of the period were 54,458,470.00, down from 72,375,848.15 at the beginning[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,049,648,136.81, reflecting a 6.03% increase from CNY 2,876,111,923.70 at the end of the previous year[6]. - Total liabilities rose to ¥1,195,985,731.17 in Q1 2025, up from ¥1,030,882,573.12 in Q1 2024[19]. - Shareholders' equity increased to ¥1,853,662,405.64 in Q1 2025, compared to ¥1,845,229,350.58 in Q1 2024[19]. - The company's long-term investments decreased to ¥1,639,562 from ¥2,774,129, reflecting a decline of about 41.0%[17]. Expenses - Research and development expenses totaled CNY 25,441,529.18, an increase of 17.84% from CNY 21,589,303.18, accounting for 6.32% of operating revenue[5]. - Total operating costs for Q1 2025 were ¥401,811,739.90, up from ¥373,443,302.97 in Q1 2024, reflecting a 7.6% increase[22]. - The company paid 38,904,203.99 in cash to employees, an increase from 27,684,428.03 in the prior period[25]. - The cash outflow for taxes paid was 4,367,332.11, significantly higher than 453,628.70 previously[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,458[12]. - There are no significant changes in shareholder structure or major acquisitions reported in the latest financial disclosures[14]. Growth and Strategy - The company is actively cultivating new growth points, although increased sales and management expenses have impacted net profit[10]. - The company has not disclosed any new product developments or market expansion strategies during the reporting period[15].

Financial Performance - The company's operating revenue for Q1 2025 was ¥504,334,589.59, representing a 20.48% increase compared to ¥418,601,682.06 in the same period last year[6] - Net profit attributable to shareholders reached ¥20,776,555.90, a significant increase of 971.00% from ¥1,939,924.21 in the previous year[6] - Basic and diluted earnings per share were both ¥0.0257, reflecting a 970.83% increase from ¥0.0053 in the previous year[7] - Net profit for Q1 2025 was ¥32.62 million, compared to ¥17.53 million in Q1 2024, representing an 86.1% increase[26] - Operating profit for Q1 2025 was ¥27.45 million, up from ¥9.53 million in Q1 2024, indicating a significant improvement in operational efficiency[25] Research and Development - The total R&D investment amounted to ¥140,046,729.86, which is 31.84% higher than ¥106,221,855.69 in the same period last year, accounting for 27.77% of operating revenue[7] - Research and development expenses increased to ¥112.91 million in Q1 2025, compared to ¥81.41 million in Q1 2024, reflecting a 38.8% rise in investment in innovation[25] - The company plans to continue enhancing R&D in low-altitude and other product areas, which may lead to increased costs in the future[13] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥291,002,908.91, an improvement from -¥404,723,588.49 in the same period last year[6] - Cash inflow from operating activities totaled ¥693.93 million in Q1 2025, compared to ¥285.72 million in Q1 2024, marking a substantial increase in cash generation[29] - The company reported a net decrease in cash and cash equivalents of approximately -$399.93 million in Q1 2025, compared to -$360.53 million in Q1 2024, indicating ongoing cash flow challenges[30] - The total cash and cash equivalents at the end of Q1 2025 were approximately $842.31 million, down from $1.26 billion at the end of Q1 2024, indicating a decrease in liquidity[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,099,219,020.10, a decrease of 2.29% from ¥8,289,330,224.61 at the end of the previous year[7] - Total liabilities decreased to ¥3.51 billion as of March 31, 2025, down from ¥3.69 billion at the end of 2024, indicating a reduction in financial obligations[22] - Shareholders' equity attributable to the parent company was ¥3,791,125,089.39, down 1.26% from ¥3,839,633,606.42 at the end of the previous year[7] Shareholder Information - Total number of common shareholders at the end of the reporting period is 23,168[16] - The largest shareholder, Zhongke Jiudu (Beijing) Space Information Technology Co., Ltd., holds 153,526,757 shares, accounting for 28.26% of total shares[17] - The company has no significant changes in the top 10 shareholders or their participation in margin trading[17] Investment Activities - In Q1 2025, the cash outflow from investment activities totaled approximately $513.19 million, significantly higher than $106.41 million in Q1 2024, indicating a substantial increase in investment activities[30] - The net cash flow from investment activities was negative at approximately -$231.88 million in Q1 2025, compared to -$71.34 million in Q1 2024, reflecting increased investment expenditures[30] - Cash paid for investment activities in Q1 2025 included approximately $410 million related to other investment activities, a significant rise from $3 million in Q1 2024[30]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 40,449,728.91, representing a 9.16% increase compared to CNY 37,055,637.21 in the same period last year[3]. - Net profit attributable to shareholders increased by 81.13% to CNY 17,335,310.26 from CNY 9,570,428.87 year-over-year[3]. - The net profit after deducting non-recurring gains and losses surged by 120.92% to CNY 15,106,429.91 compared to CNY 6,837,995.72 in the previous year[3]. - Basic earnings per share rose by 38.67% to CNY 0.1689 from CNY 0.1218 in the same period last year[3]. - Total operating revenue for Q1 2025 reached CNY 40,449,728.91, an increase of 9.5% compared to CNY 37,055,637.21 in Q1 2024[18]. - Net profit for Q1 2025 was CNY 16,945,086.52, up 77.5% from CNY 9,570,428.87 in Q1 2024[19]. - Earnings per share (EPS) for Q1 2025 was CNY 0.1689, compared to CNY 0.1218 in Q1 2024, reflecting a 38.7% increase[20]. Research and Development - Research and development expenses totaled CNY 4,688,960.87, a decrease of 7.00% from CNY 5,042,019.28 in the previous year[3]. - The ratio of R&D expenses to operating revenue decreased by 2.01 percentage points to 11.59% from 13.61%[4]. - Research and development expenses for Q1 2025 were CNY 4,688,960.87, down from CNY 5,042,019.28 in Q1 2024, indicating a decrease of 7%[18]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 28.12%, reaching CNY -10,913,983.88 compared to CNY -15,183,534.13 in the previous year[3]. - The company reported a cash balance of approximately ¥272.99 million as of March 31, 2025, compared to ¥130.26 million on December 31, 2024, indicating a significant increase in liquidity[14]. - Cash inflow from operating activities in Q1 2025 was $12,738,914.03, compared to $13,278,020.48 in Q1 2024, reflecting a decrease of approximately 4.1%[23]. - Net cash outflow from operating activities in Q1 2025 was -$10,913,983.88, an improvement from -$15,183,534.13 in Q1 2024[24]. - Cash inflow from investment activities in Q1 2025 was $582,514,414.45, up from $437,593,829.22 in Q1 2024, representing an increase of about 33%[24]. - The net increase in cash and cash equivalents for Q1 2025 was $144,078,027.12, compared to a decrease of -$103,405,992.79 in Q1 2024[25]. - The ending balance of cash and cash equivalents for Q1 2025 was $270,474,290.73, significantly higher than $46,496,372.49 in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 937,790,744.77, a slight increase of 0.63% from CNY 931,889,981.58 at the end of the previous year[4]. - Total liabilities decreased to CNY 101,067,728.10 from CNY 122,922,694.15, a reduction of 17.7%[16]. - The equity attributable to shareholders increased by 2.18% to CNY 826,613,240.41 from CNY 808,967,287.43 at the end of the previous year[4]. - The company's equity attributable to shareholders increased to CNY 826,613,240.41 from CNY 808,967,287.43, marking a growth of 2.1%[17]. Shareholder Information - The major shareholder, 巨万里, holds 43.09% of the shares, while the top ten shareholders collectively hold a significant portion of the company's equity[9]. - The company has not engaged in any share lending or borrowing activities through margin trading, indicating stable shareholder positions[10]. Risks and Challenges - The company faces a risk of delisting if its audited profit or revenue falls below specified thresholds, with a warning that its stock may be flagged for delisting risk after the 2024 annual report[11]. - The company is currently in negotiations regarding pricing disputes with a major client, which may impact future revenue recognition and cash flow[12][13]. - The company has not yet initiated the pricing review process for military products, which adds uncertainty to the recoverability of accounts receivable[13]. - The company’s primary revenue source is from military product sales, particularly in the defense industry, which is subject to fluctuations based on client production plans[11]. Investment Strategy - The company has a total of ¥270 million in trading financial assets as of March 31, 2025, down from ¥425 million at the end of 2024, indicating a shift in investment strategy or liquidity management[14]. - The company plans to continue expanding its market presence and investing in new technologies, although specific figures were not disclosed in the call[22].

Financial Performance - The company's operating revenue for Q1 2025 was ¥538,906,533.66, a decrease of 48.58% compared to ¥1,047,962,891.87 in the same period last year[4] - The net profit attributable to shareholders was -¥188,801,982.52, representing a decline of 556.46% from a profit of ¥41,361,785.72 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥197,268,823.04, a decrease of 873.14% compared to ¥25,515,119.35 last year[4] - The basic and diluted earnings per share were both -¥0.77, down 485.00% from ¥0.20 in the same period last year[4] - Total revenue for Q1 2025 was CNY 538.91 million, a decrease of 48.6% compared to CNY 1,047.96 million in Q1 2024[15] - Operating profit for Q1 2025 was CNY -199.08 million, compared to a profit of CNY 35.22 million in Q1 2024[16] - Net profit for Q1 2025 was CNY -190.61 million, a significant decline from CNY 37.70 million in Q1 2024[17] - The company reported a basic and diluted earnings per share of CNY -0.77 for Q1 2025, compared to CNY 0.20 in Q1 2024[17] Research and Development - Research and development expenses totaled ¥117,269,853.00, accounting for 21.76% of operating revenue, an increase of 9.57 percentage points from 12.19%[5] - Research and development expenses for Q1 2025 were CNY 115.22 million, down from CNY 126.91 million in Q1 2024[15] Cash Flow and Liquidity - The net cash flow from operating activities was ¥84,262,960.72, a significant improvement from -¥880,713,044.20 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was CNY 84.26 million, a turnaround from a negative cash flow of CNY -880.71 million in Q1 2024[19] - Cash and cash equivalents increased by CNY 106.30 million in Q1 2025, compared to a decrease of CNY -253.09 million in Q1 2024[19] - The company generated CNY 1.01 billion in cash inflows from operating activities in Q1 2025, up from CNY 648.03 million in Q1 2024[19] - Investment activities generated a net cash inflow of CNY 28.53 million in Q1 2025, compared to a net outflow of CNY -128.95 million in Q1 2024[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,969,824,992.85, an increase of 4.09% from ¥11,498,956,762.63 at the end of the previous year[5] - As of March 31, 2025, total assets amounted to RMB 11,969,824,992.85, an increase from RMB 11,498,956,762.63 as of December 31, 2024, reflecting a growth of approximately 4.1%[12] - Current assets totaled RMB 9,093,285,925.08, up from RMB 8,744,777,331.96, indicating an increase of about 4%[13] - Total liabilities reached RMB 8,898,042,656.74, compared to RMB 8,281,185,882.73, marking an increase of around 7.5%[14] - Short-term borrowings decreased to RMB 2,052,958,245.16 from RMB 2,936,353,931.22, a reduction of about 30%[14] - The long-term borrowings increased to RMB 1,398,492,170.87 from RMB 824,388,510.91, indicating a rise of approximately 69.5%[14] - The company has maintained a stable capital structure with a paid-in capital of RMB 246,604,600.00, unchanged from the previous period[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,171[9] - The company's equity increased slightly, with total equity reported at RMB 3,071,782,336.11 as of March 31, 2025[14] Other Notable Information - The company reported non-recurring gains of ¥8,466,840.52 for the period, primarily from government subsidies and other income[6] - Accounts receivable stood at RMB 1,722,815,666.57, down from RMB 1,827,536,901.74, showing a decrease of approximately 5.7%[12] - The company reported a significant increase in contract liabilities, which rose to RMB 2,694,773,350.22 from RMB 2,228,745,428.66, reflecting a growth of about 21%[14] - The company will implement new accounting standards starting from 2025, affecting the financial statements from the beginning of that year[20]

Financial Performance - The net profit attributable to the parent company for 2024 is -3,443,219,977.05 RMB, indicating a loss [8]. - The company reported an ending undistributed profit of -1,838,384,447.00 RMB as of December 31, 2024 [8]. - The company's revenue for 2024 was approximately ¥80.28 billion, a decrease of 29.21% compared to ¥113.41 billion in 2023 [25]. - The net profit attributable to shareholders for 2024 was approximately -¥3.44 billion, reflecting a decline of 162.30% from ¥5.53 billion in 2023 [25]. - The net cash flow from operating activities for 2024 was approximately ¥8.01 billion, down 66.63% from ¥24.00 billion in 2023 [25]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was -5.232 billion yuan, a decrease of 190.91% year-on-year [126]. - The company's operating revenue for the period was CNY 80.28 billion, a decrease of 29.21% year-on-year [144]. - The operating cost for the period was CNY 72.58 billion, down 24.70% compared to the previous year [144]. - The gross profit margin in the photovoltaic industry was 9.18%, a decrease of 5.48 percentage points compared to the previous year [146]. - The company's financial expenses increased by 264.59% year-on-year, primarily due to increased interest expenses and reduced foreign exchange gains [144]. Shareholder Returns - The total amount of share repurchase in 2024 was 259,827,424.66 RMB, which will be considered as cash dividends for the year [9]. - The company will not distribute cash dividends or conduct capital reserve transfers in 2024 [9]. - The company has not proposed any plans for capital reserve transfers or stock dividends for 2024 [9]. Risk Management - The company has detailed potential risks in the report, which can be found in the "Management Discussion and Analysis" section [6]. - The company emphasizes that forward-looking statements do not constitute a commitment to investors and advises caution regarding investment risks [10]. - The company faces risks related to the potential for significant performance declines or losses due to supply-demand imbalances and trade protectionism in overseas markets [126]. - The company is exposed to risks from fluctuations in raw material prices and logistics costs, which could impact profitability [130]. - The company has ongoing significant litigation or arbitration cases that could adversely affect its operating performance [141]. Audit and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm [7]. - The board of directors and management have confirmed the authenticity and completeness of the annual report [5]. Research and Development - Research and development expenses accounted for 6.92% of operating revenue, an increase of 2.04 percentage points compared to the previous year [28]. - The total R&D expenditure for the year reached ¥5,557,707,001.55, reflecting a slight increase of 0.49% compared to the previous year [109]. - The company filed for 1,596 new invention patents during the year, bringing the total number of applications to 3,424 [107]. - A total of 724 invention patents were granted this year, increasing the cumulative number of granted patents to 1,117 [107]. - The company has established national-level R&D platforms and is committed to protecting its core technologies from leaks [129]. - The company is enhancing its technological capabilities through significant investments in R&D, maintaining a leading position in the industry [122]. Market Position and Strategy - The company aims to expand its market presence through strategic partnerships and potential acquisitions in the renewable energy sector [25]. - The company is focusing on the development of PERC solar cells, which have a conversion efficiency exceeding 20% [25]. - The company is also investing in TOPCon technology to enhance battery performance and efficiency [25]. - The company maintained growth in component shipments despite a decline in profitability due to falling prices in the photovoltaic component market [28]. - The company has established a multi-business ecosystem that enhances its ability to withstand cyclical fluctuations in the industry [124]. - The company is focusing on expanding its market share in the residential and commercial sectors, with a gradual increase in product offerings [114]. Production and Operations - The company shipped over 70GW of components in 2024, with cumulative shipments of the 210 series components exceeding 170GW, maintaining the industry's leading position [39]. - The company launched the new i-TOPCon Ultra technology and successfully produced the world's first 800W+ stacked component, marking a new era in perovskite/crystalline silicon stacked battery component industrialization [39]. - The company’s energy storage sales exceeded 10GWh across six major regional markets, achieving over 100% growth in installed capacity [45]. - The company’s storage battery and system product capacity reached 16GWh during the reporting period, supporting its global expansion strategy [47]. - The company has successfully developed high-reflective black adhesive films and high-strength silicone, leading to improved performance in harsh weather conditions [93]. Global Expansion - The company has established regional headquarters in Zurich, Silicon Valley, Miami, Singapore, and Dubai, with operations in over 180 countries [120]. - The company is actively expanding its global manufacturing base, including a production facility in Indonesia to mitigate trade risks [123]. - The company is focusing on recycling technologies for photovoltaic components, aiming for 100% recovery of key materials [121]. Technology and Innovation - The company has set a world record for solar cell efficiency at 26.58% with its N-type bifacial i-TOPCon cells, showcasing the potential of TOPCon technology [51]. - The company developed the world's first industrial standard size photovoltaic module with a peak power of 808W, breaking the 800W barrier [52]. - The company has successfully developed high-temperature battery cells that can operate in environments exceeding 40 degrees Celsius, achieving a lifespan comparable to standard cells at 25 degrees Celsius [116]. - The company has developed and successfully mass-produced 306Ah and 314Ah battery cells for energy storage systems, which are now being utilized in self-developed battery modules [116]. Financial Health - The company's total assets at the end of the reporting period amounted to 12,000,000,000 RMB, with a 21.41% share of overseas assets [162]. - The company's cash and cash equivalents at the end of the period were 3,914,872,696.69 RMB, with significant portions pledged as collateral [162]. - The company's total liabilities increased by 141.88% to 7,363,088,708.71 RMB, primarily due to an increase in long-term borrowings due within one year [161].

天合光能股份有限公司2025 年第一季度报告 证券代码：688599 证券简称：天合光能 转债代码：118031 转债简称：天 23 转债 单位：元 币种：人民币 | 项目 | | 本报告期比上 | | | --- | --- | --- | --- | | | 本报告期 | 上年同期 | 年同期增减变 | | | | | 动幅度(%) | | 营业收入 | 14,335,076,784.40 | 18,255,937,037.92 | -21.48 | | 归属于上市公司股东的净利润 | -1,319,686,059.24 | 515,738,782.58 | -355.88 | | 归属于上市公司股东的扣除非 经常性损益的净利润 | -1,373,418,308.79 | 447,238,367.14 | -407.09 | | 经营活动产生的现金流量净额 | -835,973,694.13 | -4,391,037,059.36 | 不适用 | 天合光能股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完 ...

Financial Performance - Operating revenue for Q1 2025 was CNY 209,602,506.82, down 26.28% from CNY 284,309,844.38 in Q1 2024[10] - Net profit attributable to shareholders for Q1 2025 was CNY 5,838,680.16, a decline of 41.24% compared to CNY 9,931,547.83 in the same period last year[10] - Total operating revenue for Q1 2025 was ¥209.60 million, a decrease of 26.3% compared to ¥284.31 million in Q1 2024[38] - Net profit for Q1 2025 was ¥5.84 million, a decline of 41.5% from ¥9.92 million in Q1 2024[39] - The company's total profit for Q1 2025 was approximately ¥2.06 million, down from ¥11.34 million in Q1 2024, reflecting a decrease of about 81.8%[42] Cash Flow - The net cash flow from operating activities increased by 155.41% to CNY 39,311,230.88, compared to a negative cash flow of CNY 70,949,432.04 in Q1 2024[10] - The net cash flow from operating activities was $8,393,425.38, a significant improvement compared to a net outflow of $78,804,482.05 in the previous period[47] - Total cash outflow from operating activities amounted to $262,237,142.15, down from $366,317,963.12 year-over-year[47] - The cash flow from financing activities for Q1 2025 was negative at approximately -¥42.00 million, compared to -¥42.26 million in Q1 2024, showing a slight improvement[45] Assets and Liabilities - Total assets as of March 31, 2025, were CNY 757,312,611.39, a decrease of 3.46% compared to the end of 2024[10] - The company's total liabilities to assets ratio decreased to 15.27% from 18.95% year-over-year[10] - The total liabilities decreased from CNY 148,669,835.46 to CNY 115,668,371.51, a reduction of about 22.19%[32] - Current assets totaled CNY 475,001,642.08, down from CNY 501,359,228.85, indicating a decrease of about 5.25%[29] Shareholder Information - The largest shareholder, Yao Hong, holds 22,855,369 shares, representing 13.95% of the total shares[17] - Zheng Gang, another significant shareholder, holds 7,850,000 shares, accounting for 4.79% of the total shares[18] - The total number of shares held by the top ten shareholders is 59,801,282, which constitutes 36.51% of the total shares[18] Research and Development - Research and development expenses decreased by 51.06% to CNY 1,132,626.58, attributed to reduced material requisition during the reporting period[12] - Research and development expenses for Q1 2025 were approximately ¥1.04 million, a decrease from ¥1.99 million in Q1 2024, reflecting a reduction of about 47.9%[42] Legal and Compliance - The company received a notice from the China Securities Regulatory Commission regarding an investigation for suspected violations of information disclosure laws on March 21, 2025[26] - The company has no ongoing litigation or arbitration matters during the reporting period[22] - The company has fulfilled all disclosed commitments without any overdue or violations[25] Other Financial Metrics - The weighted average return on equity based on net profit attributable to shareholders was 0.91%, down from 1.31% in the previous year[10] - Basic earnings per share for Q1 2025 were ¥0.04, compared to ¥0.05 in Q1 2024[40] - The company reported a financial expense of -¥835,943.23 in Q1 2025, an improvement from -¥1,030,544.23 in Q1 2024[38]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 407,961,034.96, a decrease of 4.25% compared to CNY 426,068,533.52 in the same period last year[3] - Net profit attributable to shareholders was CNY 8,518,174.22, down 81.52% from CNY 46,099,895.98 year-on-year[3] - Basic and diluted earnings per share were both CNY 0.02, reflecting an 81.82% decrease from CNY 0.11 in the same period last year[3] - Total operating revenue for Q1 2025 was CNY 407,961,034.96, a decrease of 4.6% compared to CNY 426,068,533.52 in Q1 2024[19] - Net profit for Q1 2025 was CNY 8,518,174.22, a decline of 81.5% from CNY 46,099,895.98 in Q1 2024[20] - Basic and diluted earnings per share for Q1 2025 were both CNY 0.02, down from CNY 0.11 in Q1 2024[21] Research and Development - R&D investment totaled CNY 44,937,664.51, representing an increase of 101.67% compared to CNY 22,283,293.95 in the previous year, accounting for 11.02% of operating revenue[3] - R&D expenses rose significantly to CNY 44,937,664.51 in Q1 2025, compared to CNY 22,283,293.95 in Q1 2024, reflecting a 101.5% increase[20] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 143,963,575.72, a significant improvement from a negative cash flow of CNY -39,060,029.41 in the previous year[3] - Cash received from sales of goods and services in Q1 2025 was CNY 431,234,586.13, an increase of 6.8% from CNY 403,766,822.99 in Q1 2024[23] - The net cash flow from operating activities was $143,963,575.72, a significant improvement compared to a net outflow of $39,060,029.41 in the previous period[24] - Cash inflows from operating activities were $553,657,962.04, an increase from $431,348,761.67 in the previous period, indicating growth in operational efficiency[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,549,065,939.54, an increase of 2.61% from CNY 7,356,705,041.15 at the end of the previous year[3] - Total liabilities increased to CNY 2,220,582,213.29, compared to CNY 2,043,723,276.03 in the previous period[16] - Non-current liabilities totaled CNY 667,384,101.49, an increase from CNY 500,947,884.87[16] - The company reported a total equity of CNY 5,328,483,726.25, slightly up from CNY 5,312,981,765.12[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 18,195[10] - The top shareholder, Zong Yanmin, holds 30.09% of the shares, totaling 129,302,726 shares[10] Government Support - The company received government subsidies amounting to CNY 6,000,000, which are expected to have a sustained impact on its profits[5] Current Assets - The company reported a total current assets of RMB 3,350,082,734.55 as of March 31, 2025, an increase from RMB 3,124,652,583.59 on December 31, 2024, representing a growth of approximately 7.24%[14] - Cash and cash equivalents increased to RMB 1,474,765,516.80 from RMB 1,239,198,322.57, reflecting a growth of about 19.00%[14] - Accounts receivable slightly rose to RMB 529,991,511.75 from RMB 520,263,327.64, indicating a marginal increase of 1.40%[14] - Inventory levels were reported at RMB 1,032,851,809.31, showing a slight increase from RMB 1,021,875,768.82, which is a growth of approximately 1.00%[14] Fixed Assets - The company’s long-term equity investments decreased to RMB 25,397,436.83 from RMB 26,899,414.16, a decline of about 5.58%[14] - Fixed assets were valued at RMB 3,573,533,264.25, down from RMB 3,614,761,253.75, representing a decrease of approximately 1.14%[14] Strategic Direction - The company has not reported any significant new product launches or technological advancements during the reporting period[13] - There are no updates on market expansion or mergers and acquisitions in the recent financial report[13] - The company has not indicated any changes in its strategic direction or new strategies implemented in the current reporting period[13] Financial Statement Reliability - The financial statements are unaudited, which may affect the reliability of the reported figures[14]

Financial Performance - The company's operating revenue for Q1 2025 was ¥91,423,973.13, representing an increase of 11.75% compared to ¥81,812,580.71 in the same period last year[4]. - The net profit attributable to shareholders was ¥1,504,070.84, a significant recovery from a loss of ¥36,471,708.61 in the previous year[4]. - The net cash flow from operating activities improved to ¥9,694,526.65, up from a negative cash flow of ¥53,262,841.06 in the same period last year[4]. - The basic and diluted earnings per share improved to ¥0.003, recovering from a loss of ¥0.084 per share in the same period last year[4]. - Total operating revenue for Q1 2025 reached ¥91,423,973.13, an increase of 11.6% compared to ¥81,812,580.71 in Q1 2024[28]. - Net profit for Q1 2025 was ¥1,398,207.37, a significant recovery from a net loss of ¥36,640,808.15 in Q1 2024[29]. - Total comprehensive income for Q1 2025 was ¥1,794,476.63, contrasting with a total comprehensive loss of ¥38,293,841.23 in Q1 2024[29]. Research and Development - Research and development expenses totaled ¥73,584,391.53, an increase of 11.25% from ¥66,140,705.16, accounting for 80.49% of operating revenue[5]. - The company is focusing on high-quality growth and increasing R&D investment to support technological innovation[12]. - R&D expenses rose to ¥69,354,841.80, representing an increase of 9.0% from ¥63,091,569.46 in the same period last year[28]. - Research and development expenses increased to CNY 51,535,716.25 in Q1 2025, compared to CNY 44,626,845.94 in Q1 2024, reflecting a growth of approximately 15.4%[40]. Assets and Liabilities - Total assets decreased by 1.50% to ¥2,428,636,748.94 from ¥2,465,703,479.40 at the end of the previous year[5]. - As of March 31, 2025, the total assets amounted to RMB 2,428,636,748.94, while total liabilities were RMB 448,187,131.23[24]. - The company's total assets decreased from CNY 2,708,159,701.69 as of December 31, 2024, to CNY 2,688,528,529.52 as of March 31, 2025, representing a decline of approximately 0.73%[36]. - The company's total liabilities decreased from CNY 555,245,640.01 as of December 31, 2024, to CNY 522,787,740.82 as of March 31, 2025, indicating a decline of approximately 5.83%[38]. - The total current liabilities decreased from CNY 435,466,595.31 as of December 31, 2024, to CNY 413,857,477.78 as of March 31, 2025, a reduction of approximately 4.93%[38]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,350[9]. - The board of directors underwent changes, with Zhang Wei elected as an independent director[16]. - The company has not engaged in any share lending or borrowing activities among the top shareholders[11]. - The company approved a share repurchase plan, intending to buy back shares at a price not exceeding RMB 30 per share, with a total fund of no less than RMB 20 million and no more than RMB 40 million[19]. - A total of 1,300,070 shares were repurchased, accounting for 0.30% of the total share capital, with an average repurchase price of RMB 15.39 per share, totaling RMB 20,007,759.10[19]. - The company completed the first vesting period of the 2023 restricted stock incentive plan, with 126,900 shares listed for circulation, increasing the total share capital to 433,931,345 shares[21]. Market and Competitive Position - The company continues to focus on enhancing its market competitiveness through technological development solutions, which have shown rapid growth[7]. - The company plans to expand its product market and enhance its core competitiveness in the industry[12]. - Domestic revenue accounted for 76.24% of the main business income, totaling 69.52 million RMB, while international revenue made up 23.76%, amounting to 21.67 million RMB[15]. - EDA software licensing generated 69.36 million RMB, constituting 76.07% of the main business revenue[15]. - The semiconductor device characteristic testing system business generated 8.06 million RMB, representing 8.84% of the main business revenue[15]. Cash Flow and Investment Activities - The company experienced a net cash outflow from investing activities of ¥4,042,070.15 in Q1 2025, compared to a larger outflow of ¥22,983,479.73 in Q1 2024[33]. - The company reported cash outflows from operating activities of $122,548,459.22 in Q1 2025, up from $71,900,850.09 in Q1 2024, indicating a 70% increase in operational expenses[44]. - The company received $2,193,000,000.00 from investment recoveries in Q1 2025, indicating strong investment performance[44]. - The company reported a significant increase in fair value gains, with CNY 14,070,098.15 recognized in Q1 2025, compared to a loss of CNY 22,062,016.88 in Q1 2024[41].

四川天微电子股份有限公司 2024年度业绩快报暨业绩预告更正公告 证券代码：688511 证券简称：天微电子 公告编号：2025-015 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 四川天微电子股份有限公司（以下简称"公司"）于 2025 年 1 月 18 日和 2025 年 2 月 28 日在《上海证券报》《中国证券报》《证券日报》《证券时报》 及上海证券交易所网站（www.sse.com.cn）披露了公司《2024 年年度业绩预亏公 告》和《2024 年度业绩快报》，现对相关内容修正如下，财务数据未经会计师 事务所审计，具体以公司将来披露的 2024 年年度报告为准，提请投资者注意投 资风险。 | 项目 | 修正前 （业绩预 | 本报告期 | 修正后 | | 修正后 的增减 变动幅 | | --- | --- | --- | --- | --- | --- | | | | 修正前 | | 上年同期 | | | | | （业绩快报） | | | | | | 告） | | | | 度（％） | | 营业总收入 | 不适 ...