Financial Performance - The company's operating revenue for Q1 2025 was ¥76,968,864.09, representing an increase of 8.37% compared to ¥71,026,151.43 in the same period last year[4] - The net profit attributable to shareholders was -¥17,657,023.18, showing an improvement from -¥18,854,432.04 year-on-year[4] - The net cash flow from operating activities was ¥15,128.84, a significant recovery from -¥44,077,354.94 in the previous year[4] - Total operating revenue for Q1 2025 reached ¥76,968,864.09, an increase of 8.4% compared to ¥71,026,151.43 in Q1 2024[18] - Net loss for Q1 2025 was ¥17,340,675.07, slightly improved from a net loss of ¥18,490,170.00 in Q1 2024[19] - The company reported a total comprehensive loss of ¥17,401,699.46 for Q1 2025, compared to a loss of ¥20,141,974.64 in Q1 2024[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥973,950,482.45, a decrease of 6.69% from ¥1,043,802,965.08 at the end of the previous year[5] - Total liabilities decreased to ¥242,540,759.92 from ¥294,986,689.11, indicating a reduction of 17.8%[16] - The company's total equity decreased from ¥748,816,275.97 to ¥731,409,722.53, a decline of 2.3%[16] Research and Development - Research and development (R&D) expenses totaled ¥5,996,519.93, a decrease of 41.08% from ¥10,177,069.73 year-on-year, with R&D expenses accounting for 7.79% of operating revenue, down from 14.33%[5] - Research and development expenses for Q1 2025 were ¥3,626,952.19, down from ¥10,177,069.73 in Q1 2024, a decrease of 64.3%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 4,718[9] - The largest shareholder, Hainan Liangzhi Zhengde Enterprise Management Consulting Co., Ltd., holds 16,803,750 shares, representing 22.62% of the total shares[10] - The second-largest shareholder, Wenchang Zhuopu Enterprise Management Office (Limited Partnership), holds 4,252,065 shares, which is 5.72% of the total shares[10] Cash Flow and Investments - Cash flow from operating activities increased to ¥150,982,202.55 in Q1 2025, up from ¥121,230,503.09 in Q1 2024, representing a growth of 24.5%[22] - The net cash flow from investment activities decreased to $11,535,585.26 from $18,630,027.67 in the previous period[23] - The total cash outflow from financing activities was $2,587,628.02, down from $3,254,948.34 in the previous period[24] - The company received $400,000,000.00 from investment recoveries, consistent with the previous period[23] Equity and Share Repurchase - The equity attributable to shareholders decreased by 2.39% to ¥723,699,186.93 from ¥741,417,234.50 at the end of the previous year[5] - The company has a total of 2,220,951 shares in its repurchase account, accounting for 2.99% of the total share capital[11] Other Financial Metrics - The diluted earnings per share remained at -¥0.24, unchanged from the previous year[5] - Basic and diluted earnings per share for Q1 2025 were both -¥0.24, compared to -¥0.26 in Q1 2024[20] - The company reported non-recurring gains of ¥1,415,585.70 for the period, after accounting for tax effects[7]

Financial Performance - The company achieved operating revenue of CNY 326.57 million, a year-on-year increase of 2.48%[5] - The net profit attributable to shareholders was CNY -6.68 million, a year-on-year improvement of 77.28%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -9.63 million, a year-on-year improvement of 68.32%[5] - Total revenue for Q1 2025 was CNY 326,574,039.81, an increase from CNY 318,671,912.60 in Q1 2024, representing a growth of approximately 0.28%[22] - Operating profit for Q1 2025 was reported at CNY -4,383,587.51, an improvement compared to CNY -25,119,570.51 in Q1 2024[23] - Net profit for Q1 2025 was CNY -2,790,522.84, significantly better than CNY -24,818,519.97 in Q1 2024, indicating a reduction in losses[24] - The company reported a basic and diluted earnings per share of CNY -0.08 for Q1 2025, an improvement from CNY -0.47 in Q1 2024[24] - The company’s total assets decreased from CNY 2,147,443,356.56 to CNY 1,993,219,340.76, a decline of approximately 7.19%[20] - Shareholders' equity decreased from CNY 1,317,101,958.68 to CNY 1,303,653,840.29, a slight decline of approximately 1.02%[20] Cash Flow - The net cash flow from operating activities was CNY -3.90 million, a year-on-year decrease of 105.44%[6] - In Q1 2025, the company reported cash inflows from operating activities of CNY 328,499,083.05, a decrease of 4.0% compared to CNY 343,683,070.49 in Q1 2024[26] - The net cash outflow from operating activities was CNY -3,895,414.78, contrasting with a net inflow of CNY 71,588,510.41 in the same period last year[26] - Cash inflows from investment activities totaled CNY 29,401,004.18, down 49.6% from CNY 58,415,099.35 in Q1 2024[27] - The net cash flow from investment activities was CNY 23,959,407.20, slightly up from CNY 23,629,599.35 year-over-year[27] - Cash inflows from financing activities increased significantly to CNY 83,260,721.56, compared to CNY 25,000,000.00 in Q1 2024, marking a 233.0% increase[27] - The net cash outflow from financing activities was CNY -51,461,940.10, an improvement from CNY -116,201,888.33 in the previous year[27] Assets and Liabilities - The company's total assets as of March 31, 2025, were CNY 1.99 billion, a decrease of 7.18% from the end of 2024[5] - Total current assets as of March 31, 2025, amount to ¥989,267,699.67, a decrease from ¥1,100,285,746.60 at the end of 2024[18] - Total liabilities decreased from CNY 830,341,397.88 to CNY 689,565,500.47, a reduction of about 16.93%[20] - Current liabilities decreased to CNY 778,732,722.98 from CNY 879,431,494.47 at the end of 2024, reflecting a reduction of 11.4%[31] - The company's total equity as of March 31, 2025, was CNY 1,600,745,187.34, down from CNY 1,624,602,234.78 at the end of 2024[31] Shareholder Information - Total number of common shareholders at the end of the reporting period is 6,134[13] - The largest shareholder, Hu Liqiang, holds 24.40% of shares with 21,428,995 shares[15] - The second largest shareholder, Xia Feng, holds 22.35% of shares with 19,630,184 shares[15] - There are no significant changes in the top 10 shareholders due to securities lending or borrowing[16] Research and Development - R&D expenses totaled CNY 81.28 million, accounting for 24.89% of operating revenue, a decrease of 3.87 percentage points year-on-year[9] - Research and development expenses for Q1 2025 were CNY 81,275,796.44, down from CNY 91,660,255.65 in Q1 2024, a decrease of approximately 11.36%[23] - Research and development expenses increased to ¥59.46 million in Q1 2025, up from ¥55.21 million in Q1 2024, reflecting a focus on innovation[32] Other Financial Metrics - The overall gross margin for the reporting period was 40.10%, an increase of 6.40 percentage points year-on-year[5] - The weighted average return on net assets increased by 1.64 percentage points compared to the previous year[5] - The company experienced a significant increase in cash payments to employees due to the addition of overseas staff[6] - Other income for Q1 2025 was CNY 3,480,356.10, compared to CNY 4,360,515.01 in Q1 2024, reflecting a decline of about 20.11%[23] - The company experienced a significant increase in financial expenses, with interest expenses at ¥3.63 million in Q1 2025, down from ¥5.49 million in Q1 2024[32]

Financial Performance - The company's operating revenue for Q1 2025 was ¥167,802,804.01, an increase of 11.14% compared to ¥150,984,688.88 in the same period last year[3]. - Net profit attributable to shareholders decreased by 40.03% to ¥3,782,684.24 from ¥6,307,156.02 year-on-year[3]. - Total operating revenue for Q1 2025 reached ¥167,802,804.01, an increase of 11.9% compared to ¥150,984,688.88 in Q1 2024[18]. - Net profit for Q1 2025 was ¥3,782,684.24, a decrease of 60.3% from ¥9,524,673.19 in Q1 2024[19]. - The company reported a total comprehensive income of ¥4,079,494.64 for Q1 2025, down from ¥8,900,132.26 in Q1 2024, indicating a decline of 54.1%[19]. - Basic earnings per share for Q1 2025 were ¥0.02, unchanged from the previous year, while diluted earnings per share also remained at ¥0.02[19]. Research and Development - R&D investment totaled ¥52,927,561.17, up 22.92% from ¥43,058,588.28, representing 31.54% of operating revenue, an increase of 3.02 percentage points[3][4]. - Research and development expenses increased to ¥52,927,561.17 in Q1 2025, compared to ¥43,058,588.28 in Q1 2024, marking a growth of 22.5%[18]. Sales and Revenue Composition - Sales revenue from self-developed core technology platform products increased by 39.21%, accounting for 46.69% of total sales, up 7.47 percentage points year-on-year[5]. - The gross profit margin for Q1 2025 was 56.15%, an increase of 1.34 percentage points compared to the previous year[5]. - Sales revenue from high-end products rose by 58.81%, with high-end digital oscilloscopes (bandwidth ≥2GHz) seeing a 52.07% increase in sales[5]. Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥3,493,157.59, a significant improvement from a negative cash flow of ¥26,425,022.51 in the previous year[3]. - The cash inflow from operating activities for Q1 2025 was CNY 244,387,771.18, an increase of 49.0% compared to CNY 163,857,780.87 in Q1 2024[21]. - The net cash flow from operating activities was CNY 3,493,157.59, a significant recovery from a net outflow of CNY 26,425,022.51 in the same period last year[21]. - Cash inflow from investment activities totaled CNY 80,166,093.87, up from CNY 52,123,682.65 in Q1 2024, marking a 53.8% increase[22]. - The ending cash and cash equivalents balance was CNY 330,410,644.46, compared to CNY 260,862,425.68 at the end of Q1 2024, reflecting a 26.6% increase[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,832,847,966.62, a slight decrease of 0.52% from ¥3,852,921,400.41 at the end of the previous year[4]. - Total liabilities decreased to ¥659,230,450.18 from ¥685,179,430.61, indicating a reduction of 3.8%[16]. - The company's equity attributable to shareholders rose to ¥3,173,617,516.44, compared to ¥3,167,741,969.80 in the previous period, reflecting a growth of 0.2%[16]. Shareholder Information - The company reported a total of 15,557,760 shares held by Li Weisen, representing 8.02% of the total shares[12]. - Wang Yue holds 11,508,480 shares, accounting for 5.93% of the total shares, and is identified as the actual controller of the company[12]. - The top ten shareholders collectively control 32.94% of the company's shares, indicating significant ownership concentration[12]. Operational Status - There are no applicable reminders for investors regarding the company's operational status during the reporting period[13]. - The company has not reported any changes in the participation of major shareholders in margin financing or securities lending activities[12].

Financial Performance - The company's revenue for Q1 2025 reached CNY 2,354,709,996.80, representing an increase of 11.29% compared to CNY 2,115,859,042.71 in the same period last year[5] - Net profit attributable to shareholders was CNY 83,216,566.09, a significant increase of 150.68% from CNY 33,196,086.59 year-on-year[5] - Basic earnings per share rose to CNY 0.0629, reflecting a growth of 150.60% compared to CNY 0.0251 in the previous year[5] - Operating profit for Q1 2025 was CNY 78,389,552.40, significantly up from CNY 25,167,693.63 in Q1 2024, marking a growth of 210.5%[17] - Net profit for Q1 2025 was CNY 51,943,570.56, compared to CNY 1,338,882.33 in Q1 2024, representing a substantial increase[17] - Total operating revenue for Q1 2025 reached CNY 2,354,709,996.80, an increase of 11.3% compared to CNY 2,115,859,042.71 in Q1 2024[16] Cash Flow - The net cash flow from operating activities was CNY 270,998,538.92, showing a decrease of 4.97% from CNY 285,176,720.67 in the same period last year[5] - Cash flow from operating activities for Q1 2025 was CNY 270,998,538.92, slightly down from CNY 285,176,720.67 in Q1 2024[19] - The company reported a total cash inflow from operating activities of CNY 1,881,204,505.58 in Q1 2025, slightly down from CNY 1,883,407,764.47 in Q1 2024[19] - The net cash flow from investment activities was -171,458,850.37, indicating a significant outflow compared to the previous period's -3,102,859,345.61[20] - Total cash inflow from financing activities was 144,494,217.48, an increase from 115,530,073.39 in the prior period[20] - The net cash flow from financing activities was 135,683,779.33, compared to 56,377,407.77 previously, showing a positive trend[20] - The company experienced a net increase in cash and cash equivalents of 236,060,738.24, contrasting with a decrease of -2,757,733,690.09 in the prior period[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 29,281,655,370.49, a slight increase of 0.60% from CNY 29,106,829,546.42 at the end of the previous year[6] - As of March 31, 2025, the total current assets amounted to CNY 13,811,024,716.29, an increase from CNY 13,350,039,189.59 as of December 31, 2024, reflecting a growth of approximately 3.45%[12] - The total non-current assets decreased to CNY 15,470,630,654.20 from CNY 15,756,790,356.83, indicating a decline of about 1.82%[13] - The total current liabilities slightly decreased to CNY 4,111,503,263.68 from CNY 4,133,047,148.14, a reduction of about 0.52%[14] - The total non-current liabilities remained relatively stable at CNY 680,861,133.33, compared to CNY 677,829,339.41, showing a marginal increase of about 0.30%[14] - The total equity attributable to shareholders increased to CNY 22,526,162,365.41 from CNY 22,306,213,072.76, reflecting a growth of approximately 0.99%[14] Research and Development - Research and development expenses totaled CNY 278,560,984.84, accounting for 11.83% of revenue, down from 13.53% in the previous year[6] - Research and development expenses for Q1 2025 were CNY 278,560,984.84, a decrease of 2.2% compared to CNY 286,193,224.91 in Q1 2024[16] Shareholder Information - The total number of common shareholders at the end of the reporting period was 48,761[10] - The largest shareholder, China Resources (Microelectronics) Limited, holds 66.21% of the shares, totaling 878,982,146 shares[10] Other Income and Expenses - The company reported non-recurring gains of CNY 18,280,344.72, primarily due to government subsidies and other non-operating income[8] - Other income for Q1 2025 was CNY 54,281,973.39, up from CNY 37,787,374.55 in Q1 2024, indicating a growth of 43.5%[16] - Investment loss for Q1 2025 was CNY -133,063,167.10, worsening from CNY -73,691,406.48 in Q1 2024[16] Cash Management - The cash and cash equivalents stood at CNY 8,919,003,748.64, up from CNY 8,682,943,010.40, marking an increase of about 2.73%[12] - The cash and cash equivalents at the end of the period totaled 8,919,002,502.64, slightly down from 8,978,792,952.32 in the previous period[20] - Cash outflow for investment activities amounted to 207,268,248.92, significantly higher than 3,103,671,492.88 in the previous period[20] - Cash inflow from investment activities was recorded at 35,809,398.55, compared to 812,147.27 previously[20] - The company received 14,000,000.00 in cash from borrowings, indicating ongoing financing efforts[20] - The impact of exchange rate changes on cash and cash equivalents was 837,270.36, showing a minor positive effect[20] Future Outlook - The company plans to implement new accounting standards starting from 2025, which may affect future financial reporting[20]

Financial Performance - The company's operating revenue for Q1 2025 was ¥67,439,982.29, a decrease of 98.77% compared to ¥5,462,123,134.28 in the same period last year[4] - The net profit attributable to shareholders was -¥531,435,850.51, representing a decline of 110.62% from ¥5,005,155,365.45 year-on-year[4] - Basic and diluted earnings per share were both -¥1.33, down 110.66% from ¥12.48 in the previous year[4] - The company reported a significant decrease in net profit due to a sharp decline in operating revenue and an increase in R&D expenses[7] - The net loss for Q1 2025 was CNY 531,435,850.51, a stark contrast to a net profit of CNY 5,005,155,365.45 in Q1 2024[19] - The company reported a total comprehensive loss of CNY -530,297,772.33 in Q1 2025, compared to a comprehensive income of CNY 5,003,708,460.37 in Q1 2024[20] Research and Development - Research and development expenses totaled ¥494,913,002.18, an increase of 98.95% compared to ¥248,767,838.91 in the previous year[5] - The ratio of R&D expenses to operating revenue surged to 733.86%, up by 729.31 percentage points from 4.55% in the previous year[5] - The company aims to accelerate the R&D progress of its product pipeline to maintain its competitive advantage and expedite product launches[7] - The company is focusing on expanding its R&D efforts, as indicated by the substantial increase in R&D expenses[19] Cash Flow and Liquidity - The net cash flow from operating activities was -¥489,838,426.73, a decline of 109.11% from ¥5,378,961,733.25 in the same period last year[4] - Total cash inflow from operating activities in Q1 2025 was 183,689,270.20, down from 5,829,179,801.63 in Q1 2024[22] - Cash outflow from operating activities increased to 673,527,696.93 in Q1 2025, compared to 450,218,068.38 in Q1 2024[23] - Cash flow from investing activities showed a net inflow of 209,854,280.88 in Q1 2025, contrasting with a net outflow of -9,184,007.40 in Q1 2024[23] - Cash inflow from financing activities rose to 1,010,000,000.00 in Q1 2025, compared to 100,000,000.00 in Q1 2024[23] - The net cash flow from financing activities was 738,974,554.43 in Q1 2025, up from 54,781,142.67 in Q1 2024[23] - The ending cash and cash equivalents balance for Q1 2025 was 3,661,101,912.06, compared to 5,811,813,000.70 in Q1 2024[24] - The company received 10,042,314.81 in tax refunds in Q1 2025, an increase from 3,423,343.57 in Q1 2024[22] - The company paid 201,852,112.05 in employee compensation in Q1 2025, compared to 113,533,587.71 in Q1 2024[23] - The cash outflow for other operating activities was 386,816,933.38 in Q1 2025, compared to 279,735,605.89 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,439,191,804.86, an increase of 4.23% from ¥7,137,357,660.07 at the end of the previous year[5] - Total liabilities increased to CNY 4,067,763,407.83 in Q1 2025 from CNY 3,251,432,880.03 in Q1 2024, marking an increase of approximately 25%[15] - The company's total equity decreased to CNY 3,371,428,397.03 in Q1 2025 from CNY 3,885,924,780.04 in Q1 2024, reflecting a decline of about 13%[15] - Shareholders' equity attributable to shareholders decreased by 13.24% to ¥3,371,428,397.03 from ¥3,885,924,780.04 at the end of the previous year[5] - The total current assets as of March 31, 2025, amounted to ¥6,568,169,083.49, an increase from ¥6,307,204,588.11 as of December 31, 2024, representing a growth of approximately 4.14%[12] - Cash and cash equivalents increased to ¥3,667,937,163.82 from ¥3,220,120,969.20, reflecting a rise of about 13.9%[12] - Inventory levels rose to ¥192,941,670.97 from ¥162,191,590.25, indicating an increase of approximately 18.98%[13] - The company's long-term assets totaled ¥871,022,721.37, up from ¥830,153,071.96, which is an increase of about 4.2%[13] - Accounts receivable decreased to ¥80,167,866.70 from ¥106,715,664.97, showing a decline of approximately 25%[13] - The company reported a significant increase in prepayments, which rose to ¥97,392,571.25 from ¥81,590,484.92, reflecting a growth of about 19.4%[13] Shareholder Information - There were no changes in the top 10 shareholders or their shareholding status due to margin trading activities[11] - The company has not identified any related party transactions among its major shareholders[11] - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[12]

Financial Performance - The company's operating revenue for 2024 reached ¥10,118,525,841.56, representing a 2.20% increase compared to ¥9,900,603,859.18 in 2023[21]. - Net profit attributable to shareholders decreased by 48.46% to ¥762,459,866.87 from ¥1,479,265,748.53 in the previous year[21]. - The basic earnings per share fell by 48.55% to ¥0.5765, down from ¥1.1206 in 2023[22]. - The company's cash flow from operating activities increased by 17.17% to ¥2,035,987,182.21 compared to ¥1,737,665,674.14 in 2023[21]. - The total assets at the end of 2024 were ¥29,106,829,546.42, a slight decrease of 0.37% from ¥29,215,259,820.18 in 2023[21]. - The company's operating revenue for 2024 is projected at 9.84 billion RMB, a 0.93% increase year-on-year, while main business costs are expected to rise by 8.02% to 7.13 billion RMB[113]. - The gross margin for integrated circuits was reported at 27.49%, a decrease of 4.76 percentage points compared to the previous year[116]. Research and Development - The company is investing heavily in R&D for new product lines, particularly in the areas of power management and integrated circuits[12]. - Research and development expenses accounted for 11.53% of operating revenue, a slight decrease from 11.66% in 2023[22]. - The company achieved a total R&D investment of ¥1,167,113,179.34, representing a 1.13% increase from the previous year[84]. - The company has completed the performance verification of automotive-grade SiC MOSFET products and has begun client certification, aiming to establish capabilities in automotive electronic products[88]. - The company has developed over 1,100 discrete device products and more than 500 IC products, positioning itself as one of the most comprehensive power semiconductor manufacturers in China[93]. - The company has established 9 key/joint laboratories, 2 R&D innovation alliances, 9 provincial-level technology R&D platforms, and 8 municipal-level technology R&D platforms[96]. Market Position and Strategy - The company operates as a red-chip enterprise, which may lead to governance differences compared to typical A-share listed companies[5]. - The company is focusing on expanding its market presence through strategic partnerships and collaborations in the semiconductor industry[12]. - The company ranks second among Chinese power semiconductor firms and first among MOSFET manufacturers, indicating a strong competitive position in the domestic market[71]. - The company aims to enhance its core technology and resources to transform into a comprehensive integrated product company, focusing on power semiconductors and smart sensors[148]. - The company is focusing on the development of power semiconductor products, particularly in the fields of new energy and electric vehicles, to strengthen its market position and expand its business areas[149]. Governance and Compliance - The company has confirmed that all board members attended the board meeting, ensuring proper governance practices[3]. - The company has established clear rules for shareholder meetings and decision-making processes, enhancing transparency and governance[173]. - The company has a diverse board with independent directors holding various professional backgrounds, enhancing governance and oversight[177]. - The company is committed to adhering to the legal and regulatory requirements of its registered location in the Cayman Islands[190]. - The independent directors fulfilled their responsibilities diligently, reviewing board proposals and providing opinions on significant matters[166]. Operational Efficiency - The company plans to continue increasing R&D investment to support major projects currently in ramp-up and construction phases[110]. - The advanced packaging business has seen a significant increase in capacity utilization compared to the same period last year, indicating strong demand and operational efficiency[44]. - The company has implemented a performance management system that links organizational and individual performance evaluations to compensation incentives, aimed at enhancing operational performance and shareholder returns[195]. - The company is focusing on enhancing its compliance management system as part of its strategic initiatives[185]. Risks and Challenges - The company has outlined various operational risks in its report, which investors should be aware of[6]. - The company faces risks related to business structure, including potential underperformance in automotive electronics and industrial control revenue due to macroeconomic downturns[101]. - The company is exposed to financial risks due to currency fluctuations affecting its USD and HKD deposits and import-export operations[106]. - The semiconductor industry is characterized by rapid technological updates, high investment, and significant risks, closely tied to macroeconomic conditions[64]. Future Outlook - Future guidance indicates a projected revenue growth of 15% year-over-year for the upcoming fiscal year[12]. - The global semiconductor market is projected to grow by 19% in 2024, reaching a market size of $626.9 billion[66]. - The company expects to achieve significant revenue growth in the third-generation wide bandgap semiconductor market, particularly in automotive electronics and data centers[155]. - The company is advancing key projects, including the 12-inch power semiconductor wafer production line in Chongqing and the integrated circuit production line in Shenzhen, aiming for production ramp-up by the end of 2024[158].

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,558,587,882.22, a decrease of 14.09% compared to ¥1,814,204,889.13 in the same period last year[2]. - Net profit attributable to shareholders was ¥110,171,508.50, down 28.46% from ¥153,995,532.83 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥100,423,138.63, reflecting a decline of 29.64% compared to ¥142,726,249.84 in the previous year[2]. - Basic and diluted earnings per share were both ¥0.51, a decrease of 55.26% from ¥1.14 in the same period last year[2]. - Total revenue for Q1 2025 was ¥1,558,587,882.22, a decrease of 14.1% compared to ¥1,814,204,889.13 in Q1 2024[17]. - Net profit for Q1 2025 was ¥106,486,588.46, a decline of 27.3% from ¥146,546,212.38 in Q1 2024[18]. - Basic and diluted earnings per share for Q1 2025 were both ¥0.51, compared to ¥1.14 in Q1 2024[19]. Research and Development - Total R&D investment reached ¥47,788,998.44, an increase of 34.99% from ¥35,401,572.74 year-on-year, representing 3.07% of operating revenue[2]. - Research and development expenses increased to ¥47,788,998.44 in Q1 2025, up 35.0% from ¥35,401,572.74 in Q1 2024[18]. - The company plans to continue increasing R&D investment as a core strategy for high-quality development[6]. Assets and Liabilities - The company's total assets increased by 1.48% to ¥10,070,137,824.46 from ¥9,923,226,911.57 at the end of the previous year[3]. - Total assets increased to ¥10,070,137,824.46 in Q1 2025 from ¥9,923,226,911.57 in Q1 2024, reflecting a growth of 1.5%[15]. - Total liabilities rose to ¥5,534,336,982.90 in Q1 2025, compared to ¥5,496,314,184.00 in Q1 2024, indicating a slight increase of 0.7%[15]. Cash Flow - The company's cash and cash equivalents amount to RMB 2,425,262,561.68, a decrease from RMB 2,857,602,371.43[13]. - The cash inflow from operating activities was CNY 2,208,148,640.03, an increase of 32.6% compared to CNY 1,664,148,251.54 in Q1 2024[21]. - The net cash flow from operating activities was -CNY 686,832,690.68, an improvement from -CNY 846,524,502.54 in the same period last year[22]. - Cash inflow from financing activities was CNY 360,000,000.00, compared to CNY 335,226,364.53 in Q1 2024, showing a slight increase of 7.3%[22]. - The ending cash and cash equivalents balance was CNY 2,424,873,313.63, up from CNY 1,515,363,884.94 in Q1 2024[23]. Shareholder Information - As of March 31, 2025, the company has repurchased 1,260,000 shares, accounting for 0.58% of the total share capital[9]. - The total equity attributable to shareholders rose by 2.55% to ¥4,522,959,385.31 from ¥4,410,386,351.28 at the end of the previous year[3]. Non-Recurring Items - Non-recurring gains and losses amounted to ¥9,748,369.87 after tax, with significant contributions from government subsidies and asset disposals[5].

Financial Performance - The company's operating revenue for Q1 2025 was ¥65,222,251.21, a decrease of 13.05% compared to ¥75,011,959.64 in the same period last year[3]. - Net profit attributable to shareholders was ¥3,791,273.85, down 79.81% from ¥18,780,658.79 year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥991,537.03, a decline of 105.93% compared to ¥16,732,967.21 in the previous year[3]. - Total operating revenue for Q1 2025 was ¥65,222,251.21, a decrease of 13.5% from ¥75,011,959.64 in Q1 2024[18]. - Net profit for Q1 2025 was ¥3,791,273.85, down 79.8% compared to ¥18,780,658.79 in Q1 2024[19]. - Earnings per share for Q1 2025 was ¥0.02, a decrease from ¥0.10 in Q1 2024[20]. Research and Development - The company's R&D investment totaled ¥14,427,492.45, representing 22.12% of operating revenue, an increase of 3.72 percentage points from 18.40%[4]. - Research and development expenses for Q1 2025 were ¥14,427,492.45, up from ¥13,800,339.93 in Q1 2024[18]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥24,894,214.98, an improvement from -¥43,973,286.58 in the previous year[3]. - Cash inflow from operating activities in Q1 2025 was ¥47,319,954.10, compared to ¥26,770,771.73 in Q1 2024, representing an increase of 76.8%[22]. - The net increase in cash and cash equivalents was -$272,839,201.54, compared to -$75,421,682.55 in the prior period[24]. - The ending balance of cash and cash equivalents was $226,052,913.45, down from $555,109,875.69 year-over-year[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,916,925,629.94, a decrease of 2.36% from ¥1,963,322,285.86 at the end of the previous year[4]. - Current assets totaled RMB 1,559,846,713.08, down from RMB 1,627,038,041.89 at the end of 2024[14]. - The company's total liabilities decreased to RMB 190,370,545.28 from RMB 224,082,086.53 at the end of 2024[15]. - Accounts receivable increased to RMB 393,423,444.45 from RMB 367,898,068.34 at the end of 2024[13]. - The company reported an increase in inventory to RMB 169,954,367.69 from RMB 159,718,910.87 at the end of 2024[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,786[8]. - The largest shareholder, Li Weiping, holds 34,160,000 shares, accounting for 18.37% of the total shares[8]. - There are no significant changes in the shareholding structure or participation in margin trading activities among the top shareholders[10]. Government Support - The company received government subsidies amounting to ¥1,258,482.03, which are closely related to its normal business operations[5]. Share Repurchase - As of March 31, 2025, the company repurchased a total of 2,103,671 shares, accounting for 1.13% of the total share capital, with a total expenditure of RMB 50,440,345.74[12]. - The highest repurchase price was RMB 30.52 per share, while the lowest was RMB 19.74 per share, with an average repurchase price of RMB 23.98 per share[12]. Other Income and Expenses - The company reported a significant increase in other income to ¥1,798,759.11 in Q1 2025, compared to ¥673,058.79 in Q1 2024[19]. - Financial expenses in Q1 2025 showed a significant improvement, with a net income of -¥379,258.12 compared to -¥2,675,605.73 in Q1 2024[18]. - Other comprehensive income after tax for Q1 2025 was -¥396,458.82, compared to -¥515,969.71 in Q1 2024[19]. Product Development - The company has not disclosed any new product or technology developments during the reporting period[11].

Financial Performance - The company's operating revenue for 2024 reached ¥2,775,904,771.25, representing a year-on-year increase of 19.32% compared to ¥2,326,463,032.64 in 2023[24]. - Net profit attributable to shareholders increased by 47.92% to ¥235,173,752.71 in 2024, up from ¥158,988,236.51 in 2023, driven by revenue growth and improved product structure[26]. - The cash flow from operating activities rose by 39.91% to ¥332,190,741.14 in 2024, compared to ¥237,425,224.26 in 2023, primarily due to increased business scale[26]. - The company's total assets as of the end of 2024 were ¥3,330,238,800.71, a 15.47% increase from ¥2,884,165,557.57 in 2023[24]. - Basic earnings per share for 2024 were ¥1.47, reflecting a 48.48% increase from ¥0.99 in 2023[25]. - The company reported a foreign exchange loss of CNY 10,325,200 in 2024, a significant change from a foreign exchange gain of CNY 17,077,200 in 2023, affecting overall performance[117]. - The company achieved a total revenue of 25,950.00 million RMB, with a significant increase from the previous period's 16,517.01 million RMB[95]. Research and Development - The R&D expenditure as a percentage of operating revenue decreased to 5.95% in 2024 from 6.41% in 2023[25]. - Significant R&D investments were made, focusing on next-generation automotive audio electronics and AI panoramic sound systems, with successful development of two new chips[41]. - The company achieved a total R&D investment of ¥165,170,105.07 in the current year, representing a 10.72% increase compared to ¥149,172,237.71 in the previous year[82]. - The company applied for a total of 81 patents during the reporting period, with 37 patents granted, bringing the cumulative total to 418 applications and 240 grants[80]. - The company has developed a dual-drive development model of "software + hardware" to meet customer needs effectively[104]. Market Expansion and Strategy - The company plans to continue expanding its market presence, particularly in the automotive sector, leveraging its competitive advantages in speaker products[26]. - The company aims to leverage its position in the automotive supply chain to capitalize on the rapid development of smart cockpit technologies[43]. - The company is actively exploring investment opportunities in AI and big data technologies, participating in investments in companies like Guizhou 369 Smart Technology[43]. - The company aims to enhance customer satisfaction and focus on business expansion, technological innovation, and smart manufacturing to navigate the complex market environment in 2025[169]. - The company plans to increase R&D investment in acoustic signal processing, automotive electronic products, and software algorithms, particularly in sound effect algorithms and noise reduction algorithms[169]. Governance and Compliance - The board of directors and management have confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[6]. - 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[8]. - The company has not experienced any changes in governance arrangements or other significant matters during the reporting period[8]. Customer and Supplier Relationships - The company's top five customers contributed CNY 1,273,347,800 to sales, accounting for 47.09% of total revenue, indicating a high customer concentration risk[115]. - The total procurement amount from the top five suppliers was 44,956.80 million RMB, accounting for 27.11% of the annual total procurement[141]. - There were no significant dependencies on a single supplier, as no supplier accounted for more than 50% of total procurement[144]. - The company has established deep and stable partnerships with leading automotive manufacturers and acoustic brands, embedding product development into the vehicle development cycle[66]. Product Development and Innovation - The company has developed 11 core technologies in areas such as acoustic product simulation and design, vehicle audio system design, and digital speaker systems, enhancing its competitive edge in the automotive electronics sector[67]. - The company has obtained 7 domestic invention patents and 2 PCT international patents related to acoustic simulation technology, enhancing product design and performance[70]. - The company has introduced a new active noise control system that utilizes online identification methods to enhance robustness and stability, with 5 domestic invention patents obtained[74]. - The company has developed a new technology for speaker non-linear distortion assessment, which accurately predicts output characteristics and improves sound fidelity[72]. - The company is focusing on market expansion through innovative product development and advanced materials to enhance audio performance in vehicles[87]. Financial Risks and Challenges - The company faces risks related to continuous technological innovation, as increasing competition in the automotive audio industry demands higher performance and quality standards[113]. - The automotive industry, which the company primarily serves, is subject to cyclical fluctuations influenced by macroeconomic conditions[118]. - The company faces risks from high customer concentration and potential impacts from geopolitical tensions affecting overseas markets[119]. Employee and Management - The company has a diverse board with a mix of genders and ages, promoting a balanced decision-making environment[182]. - The total compensation for the vice presidents ranges from 99.21 to 104.75, reflecting competitive remuneration in the industry[182]. - The company has appointed several independent directors, with terms ranging from 2.18 to 5.98 years, ensuring governance stability[182]. - The company is actively engaging in market expansion and product development, as indicated by the ongoing recruitment of key technical staff[184].

Financial Performance - The company's operating revenue for Q1 2025 was ¥87,320,620.42, a decrease of 21.63% compared to ¥111,416,076.93 in the same period last year[4] - The net profit attributable to shareholders was -¥1,230,166.30, representing a decline of 111.60% from ¥10,601,285.52 year-on-year[4] - The basic earnings per share were -¥0.01, down 111.11% from ¥0.09 in the same period last year[4] - The weighted average return on net assets decreased to -0.14%, down 2.20 percentage points from 2.06% year-on-year[4] - Total revenue for Q1 2025 was CNY 87,320,620.42, a decrease of 21.6% compared to CNY 111,416,076.93 in Q1 2024[18] - Net profit for Q1 2025 was a loss of CNY 1,230,166.30, compared to a net profit of CNY 10,601,285.52 in Q1 2024, indicating a significant decline[19] - Operating profit for Q1 2025 was a loss of CNY 2,636,512.98, contrasting with an operating profit of CNY 11,429,350.02 in Q1 2024[19] Cash Flow - The net cash flow from operating activities improved to ¥29,783,860.92, compared to -¥22,998,747.65 in the previous year, indicating a significant recovery[4] - Cash flow from operating activities in Q1 2025 was CNY 118,518,744.43, an increase from CNY 109,229,226.02 in Q1 2024, representing a growth of 8.4%[23] - Total cash inflow from operating activities amounted to CNY 144,163,372.13, compared to CNY 113,397,584.68 last year, indicating a year-over-year increase of approximately 27.2%[24] - Cash outflow from operating activities decreased to CNY 114,379,511.21 from CNY 136,396,332.33, reflecting a reduction of about 16.1%[24] - The ending cash and cash equivalents balance was CNY 83,259,921.00, compared to CNY 55,145,563.59 at the end of the previous period, showing an increase of approximately 50.9%[25] Assets and Liabilities - Total assets increased by 3.72% to ¥1,150,957,045.32 from ¥1,109,677,969.49 at the end of the previous year[5] - Total liabilities rose to CNY 295,462,471.50, compared to CNY 253,315,181.14 in the previous year, marking an increase of 16.7%[16] - The company's equity attributable to shareholders decreased to CNY 855,494,573.82 from CNY 856,362,788.35, a decline of 0.1%[16] Research and Development - Research and development expenses totaled ¥5,818,658.24, accounting for 6.66% of operating revenue, an increase of 1.27 percentage points from the previous year[5] - Research and development expenses for Q1 2025 were CNY 5,818,658.24, slightly down from CNY 6,007,585.46 in Q1 2024[19] Shareholder Structure - The company has a significant shareholder structure, with the top three shareholders holding a combined 50.56% of the total shares[12] - The largest shareholder, Wen Hongfu, holds 20.24% of the shares, while Shenzhen Hongwen Chuangxin Technology Co., Ltd. holds 18.74%[12] - The company has no shares under pledge, marking a stable financial position regarding shareholder equity[12] - There were no significant changes in the shareholding structure due to margin trading or securities lending activities during the reporting period[12] Operational Insights - The company experienced a significant increase in operating costs due to depreciation and personnel expenses related to new projects[8] - The company reported a foreign exchange loss due to the appreciation of the Japanese yen, contributing to the decline in net profit[8] - The company received government subsidies that positively impacted cash flow, aiding in the reduction of raw material procurement costs[8] - The company has not reported any significant operational issues or concerns that would impact its financial performance in the near term[13]