Financial Performance - The company's operating revenue for Q1 2025 was CNY 210,187,624.13, a decrease of 31.96% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 20,023,868.30, down 67.10% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 19,532,079.42, a decline of 63.97% compared to the previous year[4] - Total operating revenue for Q1 2025 was ¥210,187,624.13, a decrease of 32% compared to ¥308,921,731.50 in Q1 2024[17] - Net profit for Q1 2025 was ¥20,023,868.30, a decline of 67% from ¥60,868,475.85 in Q1 2024[19] - Operating profit for Q1 2025 was ¥22,613,219.94, down 67.3% from ¥68,975,438.42 in Q1 2024[17] - The basic and diluted earnings per share were both CNY 0.03, a decrease of 62.50% compared to the same period last year[4] - The basic and diluted earnings per share for Q1 2025 were both ¥0.03, down from ¥0.08 in Q1 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 34,748,843.61, a significant improvement from a negative cash flow of CNY -80,947,723.55 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was ¥34,748,843.61, compared to a negative cash flow of -¥80,947,723.55 in Q1 2024[22] - The company's cash and cash equivalents reached RMB 860,868,960.15, up from RMB 834,004,018.42, indicating an increase of about 3.2%[13] - Cash and cash equivalents at the end of Q1 2025 increased to ¥832,149,560.70 from ¥922,003,076.36 at the end of Q1 2024[23] - The company reported a significant increase in cash received from sales, totaling ¥221,130,711.04 in Q1 2025, compared to ¥118,806,704.95 in Q1 2024[22] - The company experienced a decrease in total investment cash flow, reporting a net cash outflow of -¥7,407,358.89 in Q1 2025 compared to a net inflow of ¥2,589,214.27 in Q1 2024[23] Research and Development - Research and development expenses totaled CNY 32,705,392.28, representing 15.56% of operating revenue, an increase of 5.51 percentage points year-on-year[5] - Research and development expenses for Q1 2025 were ¥18,068,331.97, an increase of 18.5% from ¥15,253,391.59 in Q1 2024[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,653,184,135.20, a slight increase of 0.94% from the end of the previous year[5] - As of March 31, 2025, the total current assets amounted to RMB 2,932,607,668.57, an increase from RMB 2,889,201,535.85 as of December 31, 2024, reflecting a growth of approximately 1.5%[13] - Total liabilities as of March 31, 2025, were RMB 1,136,554,851.45, compared to RMB 1,123,815,074.15 at the end of 2024, showing a slight increase of about 1.8%[15] - The total assets of the company stood at RMB 3,653,184,135.20, up from RMB 3,619,236,555.59, marking an increase of approximately 0.9%[15] - The company's non-current assets totaled RMB 720,576,466.63, a decrease from RMB 730,035,019.74, reflecting a decline of about 1.9%[14] - The total equity attributable to shareholders increased to RMB 2,516,629,283.75 from RMB 2,495,421,481.44, indicating a growth of approximately 0.9%[15] - The company reported a decrease in inventory to RMB 532,286,741.18 from RMB 550,361,841.60, which is a decline of about 3.3%[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,356[10] Market Conditions - The company attributed the decline in revenue and profit to changes in market conditions and the delivery schedule of product orders[8]

Financial Performance - The company's operating revenue for Q1 2025 was ¥31,672,994.67, a decrease of 32.04% compared to ¥46,603,068.17 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥7,068,804.09, improving from a loss of ¥15,019,069.20 year-on-year[4] - The net cash flow from operating activities was negative at ¥16,763,668.30, compared to negative ¥14,639,831.57 in the previous year[4] - The weighted average return on net assets was -1.86%, an improvement from -3.51% in the previous year[4] - The company reported a non-recurring gain of ¥2,593,354.03, primarily from asset impairment reversals and government subsidies[6] - Net profit for Q1 2025 was -¥6,638,309.13, an improvement from -¥16,406,836.05 in Q1 2024[20] - The company reported a basic and diluted earnings per share of -¥0.10 for Q1 2025, an improvement from -¥0.21 in Q1 2024[20] Research and Development - Total R&D investment amounted to ¥6,799,026.04, down 40.58% from ¥11,443,082.59, with R&D expenses accounting for 21.47% of operating revenue, a decrease of 3.08 percentage points[5] - The company is optimizing its R&D resource allocation, leading to a reduction in R&D expenses during the reporting period[8] - Research and development expenses for Q1 2025 were ¥6,799,026.04, down 40.0% from ¥11,443,082.59 in Q1 2024[19] - Research and development expenses for Q1 2025 were CNY 6,836,921.24, down from CNY 9,049,773.87 in Q1 2024, indicating a focus on cost management[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥846,422,004.01, a decrease of 3.50% from ¥877,113,959.73 at the end of the previous year[5] - Total current assets decreased from 325,062,241.39 RMB at the end of 2024 to 289,308,963.73 RMB as of March 31, 2025, a decline of approximately 11%[13][15] - Total liabilities decreased to ¥492,170,331.13 in the latest report from ¥514,994,750.62[16] - Total equity attributable to shareholders decreased to ¥375,983,865.55 from ¥384,281,896.74[16] - The total assets decreased to CNY 814,766,255.71 as of March 31, 2025, from CNY 846,622,216.97 at the end of 2024[28] - The total liabilities decreased to CNY 326,629,885.82 as of March 31, 2025, from CNY 350,802,558.30 at the end of 2024[28] Shareholder Information - Total number of common shareholders at the end of the reporting period is 2,386[10] - The largest shareholder, Zhou Zhen, holds 14,609,675 shares, representing 20.87% of total shares[10] - There are no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[11] Operational Strategy - The company adjusted its operational strategy in response to market conditions, focusing on efficiency improvements and cost reductions[8] - The decline in revenue was attributed to market adjustments and a slowdown in downstream investment and demand[8] Cash Flow - Cash received from sales and services in Q1 2025 was ¥28,328,686.18, down 47.9% from ¥54,381,714.21 in Q1 2024[22] - Cash outflow from investment activities for Q1 2025 was -¥10,288,291.19, compared to -¥36,310,352.40 in Q1 2024[23] - The company's cash flow from financing activities showed a net cash inflow of CNY 16,022,563.51 in Q1 2025, slightly down from CNY 16,442,148.40 in Q1 2024[24] - The net cash flow from investing activities was -$2.08 million in Q1 2025, compared to -$5.62 million in Q1 2024, indicating improved cash management[32] - The total cash inflow from investment activities in Q1 2025 was $2,650, a sharp decline from $16.22 million in Q1 2024[32]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.50 per 10 shares, totaling RMB 33,120,783.25 (including tax) based on 132,483,133 shares after buyback adjustments[5]. - The total cash dividend for the year 2024, including share buybacks, amounts to RMB 155,656,528.05, representing 62.20% of the net profit attributable to shareholders[7]. - The mid-year cash dividend of RMB 3.50 per 10 shares was approved, amounting to RMB 46,369,096.55 (including tax), with no bonus shares issued[6]. - A cash dividend of RMB 2.50 per 10 shares will be distributed, totaling RMB 33,120,783.25, alongside a capital reserve conversion of 4 shares for every 10 shares held[35]. Financial Performance - The company reported a significant increase in revenue, reaching 1.2 billion CNY, representing a 15% year-over-year growth[22]. - The basic earnings per share for 2024 increased by 10.12% to CNY 1.85 compared to CNY 1.68 in 2023[23]. - The net profit attributable to shareholders rose by 10.68% to CNY 250,270,369.36 from CNY 226,125,676.71 in the previous year[23]. - The company's operating revenue for 2024 reached CNY 882,052,119.34, marking a 10.31% increase from CNY 799,626,376.57 in 2023[23]. - The company's financial performance remains stable, with no significant fluctuations in shareholding among key executives[179]. Research and Development - The company is investing 50 million CNY in R&D for new technologies aimed at enhancing product efficiency[22]. - The company's R&D investment as a percentage of operating revenue was 4.01%, a slight decrease from 4.23% in 2023[23]. - Research and development (R&D) expenses amounted to ¥35,372,719.34, representing a 4.66% increase compared to the previous year[84]. - The company completed 15 scientific research projects during the reporting period[82]. - The company has developed over 300 different types of nucleating agents, synthetic hydrotalcite, antioxidants, and composite additives, achieving a comprehensive product line that supports one-stop raw material supply for high-quality downstream customers[93]. Market Expansion and Strategy - Market expansion plans include entering two new international markets by Q3 2024, projected to increase market share by 5%[22]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 300 million CNY allocated for this purpose[22]. - The company is actively pursuing market expansion and new product development strategies to enhance its competitive edge in the industry[90]. - The company is planning to acquire at least 51% of Wuhu Yingri Technology Co., Ltd., a leading ITO target material company, currently in the due diligence phase[170]. Operational Efficiency - The company has been actively optimizing production processes and enhancing cost control to improve operational efficiency[24]. - The company achieved a revenue of RMB 310.7 billion in 2023, representing a year-on-year growth of 6.44% and capturing 28% of the global market share in the modified plastics sector[56]. - The company has reduced operational costs by 10% through efficiency improvements, resulting in a net profit margin increase to 12%[182]. - The production capacity utilization rate for antioxidants is 79%, indicating efficient production management[152]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not violated any decision-making procedures for external guarantees[9]. - The company has not disclosed any special arrangements for corporate governance[9]. - The company has held 6 board meetings, 5 supervisory meetings, and 2 shareholder meetings during the reporting period, ensuring compliance with governance regulations[173]. Sustainability Initiatives - Sustainability initiatives are being prioritized, with a target to reduce carbon emissions by 20% over the next three years[22]. - The company has established partnerships with three leading suppliers to improve supply chain sustainability[22]. - The company is focusing on developing eco-friendly nucleating agents to meet the increasing demand for green packaging and food packaging[78]. - The company has been recognized as a "Green Factory" and a "Waste-Free Factory," promoting green economic development and achieving significant social and ecological benefits[97]. User Growth and Engagement - User data showed an increase in active users by 25%, totaling 5 million users as of the end of the quarter[22]. - The company provided guidance for the next quarter, expecting revenue to grow by 10% to 1.32 billion CNY[22]. - User data showed a rise in active users to 10 million, up from 8 million in the previous quarter, indicating a 25% increase[182]. Risk Management - The company has faced various operational risks, which are detailed in the report[3]. - The company is exposed to risks from rising raw material prices and potential supply chain disruptions[107]. - The company is enhancing its financial warning capabilities and risk management systems to support high-quality development[170].

Financial Performance - The company's revenue for Q1 2025 reached ¥20,877.09 million, representing a 115.95% increase compared to ¥9,667.76 million in the same period last year[4] - Net profit attributable to shareholders was ¥2,654.74 million, a significant recovery from a loss of ¥541.80 million in the previous year[4] - Basic earnings per share increased to ¥0.2272 from a loss of ¥0.0464 in the same period last year[4] - Total operating revenue for Q1 2025 reached ¥208,770,882.29, a significant increase of 116.4% compared to ¥96,677,557.38 in Q1 2024[18] - Net profit for Q1 2025 was ¥26,554,993.86, compared to a net loss of ¥5,401,035.13 in Q1 2024, marking a turnaround in profitability[19] - Earnings per share for Q1 2025 were ¥0.2272, compared to a loss per share of ¥0.0464 in Q1 2024[20] - The company reported a comprehensive income total of ¥27,198,528.28 for Q1 2025, compared to a loss of ¥6,478,485.86 in Q1 2024[20] Cash Flow and Liquidity - The net cash flow from operating activities was ¥1,181.92 million, up 485.14% from ¥201.99 million year-on-year[4] - Cash inflow from operating activities in Q1 2025 was ¥152,982,468.36, an increase from ¥141,019,072.02 in Q1 2024[22] - The net cash flow from operating activities was 11,819,191.79, a significant increase from 2,019,890.51 in the previous period, reflecting a strong operational performance[23] - The total cash and cash equivalents at the end of the period amounted to 469,353,584.01, compared to 745,408,424.52 at the beginning of the period, showing a decrease in liquidity[24] - The cash flow from operating activities totaled 141,163,276.57, slightly increasing from 138,999,181.51, indicating stable operational cash generation[23] Assets and Liabilities - The company's total assets grew by 3.30% to ¥145,458.30 million from ¥140,806.82 million at the end of the previous year[5] - Total current assets reached ¥1,026,937,509.10, up from ¥978,891,763.67, indicating a 4.9% increase[13] - Total liabilities increased to ¥218,837,306.46 in Q1 2025 from ¥199,284,057.35 in Q1 2024[15] - The total assets of the company amounted to ¥1,454,583,031.44, compared to ¥1,408,068,217.30, showing a rise of 3.3%[13] Research and Development - Research and development expenses totaled ¥1,428.20 million, accounting for 6.84% of revenue, down from 16.31% in the previous year[5] - The company has committed to ongoing research and development to maintain competitive advantages in the market[5] - Research and development expenses for Q1 2025 were ¥14,281,953.06, slightly down from ¥15,771,736.67 in Q1 2024[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,550[9] - The largest shareholder, Luo Xingshun, holds 40,107,149 shares, representing 34.33% of total shares[9] Investment and Financing Activities - The cash outflow from financing activities was 12,943,241.46, compared to an inflow of 11,759,013.73 in the previous period, indicating a shift in financing strategy[23] - The company received cash from investment recoveries totaling 1,414,570,971.28, significantly higher than 447,051,671.81 previously, showcasing effective asset management[23] - Cash paid for the acquisition of fixed assets was 18,707,948.77, down from 42,458,380.04, reflecting a more cautious investment approach[23] Operational Performance - The company benefited from an increase in the sales proportion of high-margin products and cost advantages from expanded sales scale, leading to improved gross profit and gross margin[5] - Non-recurring gains totaled ¥182.00 million after tax adjustments, contributing positively to the overall financial performance[6] - The company experienced a foreign exchange impact on cash and cash equivalents of 1,249,744.24, compared to a negative impact of -792,628.44 previously, suggesting improved currency management[24] - The cash paid for employee compensation was 44,840,133.67, an increase from 39,585,298.53, reflecting a commitment to workforce investment[23] Other Information - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[11] - The company has not disclosed any new product developments or market expansion strategies in the current report[11]

Financial Performance - The company's revenue for Q1 2025 was ¥3,311,622,148.04, representing a 5.58% increase compared to ¥3,136,687,198.95 in the same period last year[6] - Net profit attributable to shareholders decreased by 39.39% to ¥211,610,317.65 from ¥349,125,033.99 year-on-year[6] - Basic and diluted earnings per share dropped by 50.00% to ¥0.03 from ¥0.06 in the same period last year[6] - The net profit for the current period is CNY 221,465,488.83, a decrease of 37.4% compared to CNY 354,309,225.88 in the previous period[27] - Operating profit for the current period is CNY 293,522,107.65, down from CNY 472,790,509.96, reflecting a decline of 37.8%[27] - The company reported a total comprehensive income for the current period of CNY 221,465,488.83, compared to CNY 354,262,250.90 in the previous period, a decline of 37.4%[27] Cash Flow and Investments - The net cash flow from operating activities fell by 42.20% to ¥184,148,102.64, down from ¥318,582,263.89 in the previous year[6] - Cash flow from operating activities increased to CNY 184,148,102.64, compared to CNY 318,582,263.89 in the previous period, a decrease of 42.1%[28] - The company incurred a net cash outflow from investing activities of CNY -189,667,509.91, compared to CNY -557,745,121.07 in the previous period, indicating a reduced outflow[28] - Cash inflow from financing activities totaled CNY 644,978,181.54, compared to CNY 872,289,831.08 in the previous period, a decrease of 26.1%[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥49,354,408,280.87, a decrease of 0.65% from ¥49,675,287,134.19 at the end of the previous year[6] - As of March 31, 2025, total assets amounted to ¥49,354,408,280.87, a decrease from ¥49,675,287,134.19 at the beginning of the period[24] - Total liabilities decreased to ¥28,167,314,960.03 from ¥28,714,236,374.57, indicating a reduction in financial obligations[24] - The company's total equity increased to ¥21,187,093,320.84 from ¥20,961,050,759.62, reflecting a growth in shareholder value[25] Operating Costs and Expenses - Total operating costs rose to ¥3,014,757,011.56 from ¥2,667,902,498.37, marking an increase of about 12.9%[26] - The company's operating expenses increased to CNY 3,421,536,871.73 from CNY 2,960,366,309.89, reflecting an increase of 15.6%[28] - Research and development expenses were ¥5,815,044.69, down from ¥8,035,529.42, indicating a reduction in R&D spending[26] Shareholder Information and Stock Repurchase - The total number of ordinary shareholders at the end of the reporting period was 128,432[10] - The total amount of funds raised for the first employee stock ownership plan was RMB 167,737,660.77, with a subscription scale of 41,011,653 shares at a price of RMB 4.09 per share[15] - As of December 31, 2024, the company repurchased a total of 24,791,313 shares, accounting for approximately 0.40% of the total share capital, with a total transaction amount of RMB 89,702,877.73[20] - The company plans to repurchase shares with a total fund amount not less than RMB 50 million and not exceeding RMB 100 million, with a repurchase price not exceeding RMB 4.15 per share[18] - The company completed the first phase of the employee stock ownership plan with a total of 41,011,653 shares transferred to the dedicated account[15] - The company completed the repurchase and cancellation of 24,791,313 shares as of January 10, 2025[21] Future Outlook - Future outlook includes plans for market expansion and potential new product launches, although specific figures were not disclosed in the call[26]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 394,996,238.33, representing a year-on-year increase of 20.94% compared to CNY 326,613,772.99 in the same period last year[4] - The net profit attributable to shareholders for the same period was CNY 116,143,713.97, an increase of 18.16% from CNY 98,297,491.14 in the previous year[4] - The net cash flow from operating activities reached CNY 111,806,869.32, reflecting a growth of 20.19% compared to CNY 93,026,332.08 in the prior year[4] - Total operating revenue for Q1 2025 reached ¥394,996,238.33, an increase of 20.9% compared to ¥326,613,772.99 in Q1 2024[24] - Net profit for Q1 2025 was ¥116,143,716.05, compared to ¥98,297,495.48 in Q1 2024, representing a growth of 18.2%[25] - The total comprehensive income for the first quarter of 2025 was ¥116,218,786.94, up from ¥98,006,221.59 in the first quarter of 2024, indicating a growth of about 18.5%[26] Research and Development - Research and development expenses totaled CNY 117,572,049.26, which is 24.05% higher than CNY 94,780,406.29 from the previous year, accounting for 29.77% of operating revenue[5] - R&D investment for the same period was 117.5720 million RMB, up 24.05% year-on-year, emphasizing the company's commitment to technological innovation[12] - Research and development expenses increased to ¥104,887,324.67 in Q1 2025 from ¥83,637,359.40 in Q1 2024, marking a rise of 25.4%[25] - The company maintains a high level of R&D investment to ensure sustainable development in technology[12] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,344[9] - The largest shareholder, Zhen Lixin, holds 24,187,800 shares, representing 24.19% of the total shares[9] Earnings and Share Performance - The basic and diluted earnings per share were both CNY 1.16, down 11.45% from CNY 1.31 in the previous year[4] - The basic and diluted earnings per share for the first quarter of 2025 were both ¥1.16, a decrease from ¥1.31 in the first quarter of 2024, reflecting a decline of approximately 11.5%[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,591,127,106.18, a 2.94% increase from CNY 3,488,458,463.72 at the end of the previous year[5] - Total liabilities decreased slightly to ¥817,335,054.10 as of March 31, 2025, from ¥830,885,198.58 at the end of 2024[21] - The company’s total equity increased to ¥2,773,792,052.08 as of March 31, 2025, compared to ¥2,657,573,265.14 at the end of 2024, reflecting a growth of 4.4%[21] Cash Flow - Cash inflows from operating activities for the first quarter of 2025 totaled ¥394,066,614.67, compared to ¥354,196,727.03 in the first quarter of 2024, marking an increase of about 11.3%[28] - The net cash flow from operating activities for the first quarter of 2025 was ¥111,806,869.32, up from ¥93,026,332.08 in the same period of 2024, representing a growth of approximately 20.2%[29] - Cash inflows from investment activities in the first quarter of 2025 amounted to ¥1,691,271,368.21, significantly higher than ¥424,253,835.67 in the first quarter of 2024, indicating a substantial increase of about 298.4%[29] - The net cash flow from investment activities for the first quarter of 2025 was -¥305,668,545.30, compared to ¥165,170,590.83 in the first quarter of 2024, showing a decline in cash flow[29] - The net cash flow from financing activities for the first quarter of 2025 was -¥4,049,513.43, slightly improved from -¥4,667,169.84 in the first quarter of 2024[30] - The ending cash and cash equivalents balance for the first quarter of 2025 was ¥1,192,075,975.20, compared to ¥585,200,092.01 at the end of the first quarter of 2024, reflecting an increase of approximately 103.4%[30] Market Performance - The monthly active users for major C-end products reached 177 million, representing an 11.32% increase compared to 159 million in the previous year[16] - Revenue from smart text recognition C-end products was 327.4847 million RMB, a 27.36% increase year-on-year[15] - The revenue from B-end products and services was 19.0791 million RMB, showing a 21.15% increase year-on-year[15] - Revenue from commercial big data C-end products decreased by 12.86% to 14.7418 million RMB, indicating market saturation[15] - Sales expenses for the quarter were 103.0570 million RMB, a year-on-year increase of 19.48%[12] - The company is focusing on standardizing products and reducing the proportion of customized solutions in its business strategy[15]

证券代码：688567 证券简称：孚能科技 孚能科技（赣州）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、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 主要会计数据和财务指标 第 1 页 单位：元 币种：人民币 项目 本报告期 上年同期 本报告期比上年同期 增减变动幅度(%) 营业收入 2,325,244,673.15 2,924,212,373.69 -20.48 归属于上市公司股东的净利润 -152,490,985.19 -217,296,159.17 不适用 归属于上市公司股东的扣除非经 常性损益的净利润 -146,195,362.99 -183,866,469.65 不适用 经营活动产生的现金流 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 220,168,710.25, representing a 14.97% increase compared to CNY 191,508,760.41 in the same period last year[5]. - Net profit attributable to shareholders was CNY 71,464,345.04, up 15.82% from CNY 61,700,617.25 year-over-year[5]. - Basic and diluted earnings per share were both CNY 0.53, reflecting a 15.22% increase from CNY 0.46 in the previous year[5]. - Total operating revenue for Q1 2025 reached RMB 220,168,710.25, a 14.99% increase from RMB 191,508,760.41 in Q1 2024[18]. - Net profit for Q1 2025 was RMB 71,464,345.04, representing a 15.00% increase compared to RMB 61,700,617.25 in Q1 2024[20]. - Earnings per share for Q1 2025 were RMB 0.53, compared to RMB 0.46 in Q1 2024, reflecting a 15.22% increase[20]. - The company reported a total comprehensive income of RMB 70,719,050.83 for Q1 2025, compared to RMB 61,713,529.37 in Q1 2024[20]. Cash Flow and Investments - The net cash flow from operating activities increased by 123.09%, reaching CNY 94,170,430.97, primarily due to reduced cash payments for procurement[5][9]. - Cash flow from operating activities for Q1 2025 was RMB 94,170,430.97, significantly higher than RMB 42,211,087.32 in Q1 2024[23]. - Investment activities generated a net cash outflow of RMB 60,739,557.10 in Q1 2025, compared to a net inflow of RMB 205,600,942.57 in Q1 2024[23]. - Financing activities resulted in a net cash outflow of RMB 67,997,829.80 in Q1 2025, an improvement from a net outflow of RMB 529,135,551.52 in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,361,436,405.20, a 2.22% increase from CNY 3,288,312,349.55 at the end of the previous year[6]. - The company's current assets totaled RMB 2,251,769,077.95, compared to RMB 2,207,195,933.87 at the end of 2024, indicating an increase of about 2.01%[15]. - The company's total liabilities stood at RMB 1,975,586,434.71, up from RMB 1,927,577,592.28, marking an increase of around 2.53%[17]. - The equity attributable to shareholders increased to RMB 1,385,849,970.49 from RMB 1,360,734,757.27, reflecting a growth of approximately 1.85%[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,286[10]. - The top shareholder, Zhao Wenlin, holds 34.03% of the shares, totaling 46,050,000 shares[11]. - The company reported a total of 2,844,565 shares held in the repurchase special account, accounting for 2.10% of the total share capital[13]. - The company has identified key shareholders, with Zhao Wenlin holding 46,050,000 shares, representing a significant stake in the company[13]. - The company has not reported any changes in the participation of major shareholders in securities lending activities during the reporting period[14]. Research and Development - Research and development expenses totaled CNY 8,933,164.11, which is 4.06% of operating revenue, slightly down from 4.07% in the previous year[5]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[24].

Financial Performance - The company's operating revenue for Q1 2025 was ¥80,785,590.15, representing a year-on-year increase of 7.01% compared to ¥75,496,059.07 in the same period last year[4]. - Net profit attributable to shareholders decreased by 48.44% to ¥7,972,658.96 from ¥15,462,591.56 year-on-year[4]. - Basic and diluted earnings per share were both ¥0.07, a decrease of 66.67% from ¥0.21 year-on-year[4]. - The total comprehensive income for the period was CNY 7,972,658.96, compared to CNY 15,462,591.56 in the previous period, indicating a decrease of approximately 48.3%[25]. Research and Development - R&D investment totaled ¥24,163,879.04, an increase of 55.99% compared to ¥15,490,651.09 in the previous year, accounting for 29.91% of operating revenue[4][5]. - Research and development expenses totaled RMB 24.16 million, reflecting a year-on-year growth of 55.99%[11]. - The decline in net profit was attributed to increased investments in R&D and sales team development, leading to higher expenses compared to the previous year[7]. Cash Flow and Investments - The net cash flow from operating activities was ¥11,291,670.74, down 29.17% from ¥15,941,986.50 in the same period last year[4]. - Cash inflows from operating activities totaled CNY 117,303,469.19, an increase of 17.0% compared to CNY 100,231,886.53 in the previous year[28]. - The net cash flow from investing activities was -CNY 228,024,911.09, compared to a positive CNY 960,687.24 in the same quarter last year[28]. - Cash outflows from investing activities amounted to CNY 248,174,033.84, significantly higher than CNY 418,775,576.00 in the previous year, indicating increased investment activity[28]. - The company reported a significant decrease in cash received from the recovery of investments, totaling CNY 20,149,122.75 compared to CNY 419,736,263.24 in the previous year[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,027,776,021.90, an increase of 2.32% from ¥1,004,468,958.58 at the end of the previous year[5]. - Total liabilities increased to ¥158,018,044.28 from ¥143,136,699.22, reflecting a rise of 10.4%[21]. - Current assets totaled ¥761,029,002.70, up from ¥736,216,664.37, indicating a growth of 3.9%[20]. - The company reported a decrease in long-term equity investments to ¥4,143,389.66 from ¥4,439,628.35, a decline of 6.7%[20]. - The cash and cash equivalents stood at ¥88,432,090.08, compared to ¥296,914,156.93 in the previous period, showing a significant reduction[19]. Shareholder Information - Shareholders' equity attributable to the parent company was ¥869,757,977.62, up 0.98% from ¥861,332,259.36 at the end of the previous year[5]. - The total number of shares held by the top 10 shareholders accounted for 64.49% of the company's total share capital[11]. Sector Performance - The smart energy sector generated RMB 43.02 million, growing by 12.36% year-on-year, while the industrial internet sector saw a significant increase of 42.87%[11]. - The company reported that its industrial switch products generated RMB 63.73 million in revenue, a year-on-year increase of 6.64%[11]. Corporate Governance - The board of directors and supervisory board were re-elected on January 23, 2025, with new members appointed[14]. - The company adjusted the positions of core technical personnel, with one member no longer recognized as a core technical staff[16]. Financial Strategy - The company plans to use up to RMB 450 million of idle funds for purchasing safe and liquid financial products within 12 months[12].

Financial Performance - Operating revenue for the first quarter of 2025 was CNY 92,118,348.63, down 40.35% year-on-year [10]. - Net profit attributable to shareholders for the first quarter of 2025 was a loss of CNY 16,768,203.83, representing a decline of 259.25% compared to the same period last year [10]. - Basic earnings per share for the first quarter of 2025 was -CNY 0.14, a decrease of 275.00% year-on-year [10]. - The company's cash flow from operating activities for the first quarter of 2025 was -CNY 24,104,184.81, a decline of 144.49% compared to the previous year [10]. - Total operating revenue for Q1 2025 was CNY 92,118,348.63, a decrease from CNY 154,441,052.85 in Q1 2024 [50]. - Net profit for Q1 2025 was a loss of CNY 16,768,203.83, while Q1 2024 reported a net profit of CNY 10,529,264.31 [51]. - The total comprehensive income for Q1 2025 was a loss of ¥17,389,376.69, compared to a comprehensive income of ¥9,570,421.92 in Q1 2024 [54]. Assets and Liabilities - Total assets as of March 31, 2025, were CNY 1,112,800,070.14, a decrease of 2.82% compared to the end of the previous year [10]. - The asset-liability ratio for the consolidated entity was 18.38%, down from 19.21% at the end of the previous year [10]. - Total current assets decreased from ¥546,033,405.54 in 2024 to ¥513,462,121.01 in 2025, a decline of approximately 5.93% [44]. - Total liabilities decreased from ¥219,970,089.73 in 2024 to ¥204,490,988.67 in 2025, a reduction of approximately 7.06% [46]. - Total equity attributable to shareholders decreased from ¥925,077,285.30 in 2024 to ¥908,309,081.47 in 2025, a decline of about 1.81% [46]. Shareholder Information - The largest shareholder, Shanghai Xinhong Pharmaceutical Co., Ltd., holds 32,851,219 shares, accounting for 26.49% of total shares [20]. - The total number of shareholders with more than 5% ownership is 10, collectively holding 65,807,461 shares, which is 53.06% of total shares [21]. - The total number of unrestricted shares increased from 76,935,090 to 76,990,252, representing a change of 55,162 shares, which is an increase of 0.07% [20]. - The total number of restricted shares decreased from 47,064,917 to 47,009,755, reflecting a change of -55,162 shares, which is a decrease of 0.15% [20]. Cash Flow and Expenses - The company reported a total cash inflow from operating activities of ¥106,460,668.56 in Q1 2025, compared to ¥189,066,154.08 in Q1 2024, a decrease of 43.6% [57]. - The cash flow from operating activities for Q1 2025 was negative at -¥24,104,184.81, contrasting with a positive cash flow of ¥54,184,916.38 in Q1 2024 [56]. - The company incurred sales expenses of ¥41,526,778.03 in Q1 2025, a decrease of 54.7% from ¥91,567,552.81 in Q1 2024 [53]. - Research and development expenses were ¥2,915,757.96 in Q1 2025, slightly up from ¥2,697,325.40 in Q1 2024, reflecting an 8.1% increase [53]. Related Party Transactions and Legal Issues - The company has engaged in related party transactions amounting to ¥166,696.74 for utility payments to Yunnan Biopharmaceutical Co., Ltd. and ¥754,652.00 for product sales to Longyan Pianzaihuang Hongren Pharmaceutical Co., Ltd. [35]. - The company has filed a civil lawsuit against Jinsha River and Lin Yanhe regarding the fund occupation, which is currently in the legal process [30]. - The company has maintained communication with Jinsha River and Lin Yanhe to resolve the fund occupation issue [38]. - The Guangdong High Court upheld the lower court's ruling, concluding the case regarding the fund occupation [31]. Fund Occupation and Recovery Efforts - The company reported that the controlling shareholder, Shenzhen Jinsanjiang Investment Co., Ltd., occupied funds totaling 257 million yuan, which have not yet been repaid [28]. - As of March 31, 2025, the controlling shareholder has repaid 20 million yuan of the occupied funds [29]. - The company has taken measures to recover the remaining occupied funds of 257 million yuan and corresponding returns [29]. - The company has implemented measures to prevent dividend distribution to Jinsha River and Lin Yanhe until they fulfill their commitments [40]. - The company has accrued bad debts totaling ¥195.32 million due to unreturned funds [32].