Financial Performance - The company's operating revenue for 2024 was approximately ¥3.55 billion, a decrease of 11.81% compared to ¥4.03 billion in 2023[25]. - The net profit attributable to shareholders was approximately -¥162.77 million, an improvement of 46.49% from -¥304.18 million in the previous year[25]. - The net cash flow from operating activities was approximately ¥585.98 million, down 24.20% from ¥773.09 million in 2023[25]. - Total assets at the end of 2024 were approximately ¥6.56 billion, a decrease of 5.75% from ¥6.96 billion at the end of 2023[25]. - The net assets attributable to shareholders increased by 10.43% to approximately ¥2.10 billion from ¥1.90 billion in 2023[25]. - Basic earnings per share decreased to -0.24 CNY, a 53.85% improvement compared to -0.52 CNY in the same period last year[26]. - Net profit attributable to shareholders increased by 46.49% year-on-year, primarily due to a decrease in labor and raw material costs[27]. - Operating cash flow decreased by 24.20% year-on-year, mainly due to a reduction in cash received from sales of goods and services[27]. - The net profit after deducting non-recurring gains and losses increased by 43.69% year-on-year, driven by the rise in net profit attributable to shareholders[27]. - The company reported a net profit of -79,428,144.23 CNY in the first quarter, with a gradual improvement in subsequent quarters[30]. Revenue and Sales - The company reported a decrease in revenue from non-core business activities, with a total of approximately ¥3.48 billion, down 12.08% from ¥3.96 billion in 2023[25]. - Revenue for the reporting period decreased by 11.81% year-on-year, attributed to a downturn in demand in the furniture industry[26]. - The total revenue from all sales channels decreased by 12.08% to ¥3,481,751,069.81, with a gross margin of 35.57%[97]. - The revenue from the domestic distribution model was CNY 554,509,049.09, with a gross margin of 25.74%, reflecting a year-over-year decrease of 23.99%[72]. - Custom furniture revenue was CNY 557,589,571.50, down 14.40% year-over-year, with a gross margin of 34.05%[71]. - The revenue from Ekornes products was CNY 2,531,123,970.34, with a gross margin of 37.98%, showing a year-over-year decrease of 9.65%[71]. Operational Efficiency - The company improved its operational efficiency, resulting in a decrease in office, management, and operational costs compared to 2023[43]. - The company's operating costs decreased by 16.51% to 2.302 billion RMB, primarily due to lower labor and raw material costs[68]. - The company has a production cycle of 12 days for panel finished products and 22-25 days for solid wood finished products, utilizing an ERP system for flexible production management[53]. - The company has a robust supply chain system, leveraging Ekornes' global resources to optimize raw material procurement and reduce costs[65]. Strategic Initiatives - The company has established a strategic partnership with major real estate developers to provide furniture solutions for furnished apartments, enhancing its market presence[56]. - The company aims to capture the growing demand in the second-hand housing market, which is expected to drive furniture sales through integrated supply chain services[101]. - The company plans to enhance its online brand presence through new media platforms, aiming to increase natural traffic and brand exposure[106]. - The company is committed to product innovation, with plans to launch new product lines to drive sales growth[106]. Environmental Commitment - The company has been recognized for its commitment to environmental standards, being the first in the industry to use water-based paint across all products[63]. - The company has implemented a green supply chain management system, ensuring compliance with higher environmental standards than national regulations[160]. - The company has successfully implemented water-based paint technology, significantly reducing volatile organic compound emissions[157]. - The company has established a dedicated energy and environmental management department to oversee green initiatives throughout the product lifecycle[160]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with laws and regulations, and enhancing investor relations management[113]. - The board of directors consists of 10 members, including 4 independent directors, meeting legal requirements for governance structure[113]. - The company maintains a robust information disclosure system to enhance transparency and protect investor rights[114]. - There are no significant discrepancies between the company's governance practices and regulatory requirements, ensuring compliance and operational independence[114]. Shareholder and Financial Management - The company plans to repurchase shares through centralized bidding as approved in the first extraordinary general meeting of 2024[115]. - The company’s total remuneration for the chairman and general manager, Zhao Ruihai, was 82.40 million yuan during the reporting period[116]. - The company has a cash dividend policy that mandates at least 20% of the distributable profit to be distributed in cash, barring special circumstances[141]. - The company has committed to repay the non-operating funds, with expected repayment amounts and dates specified for each related party[175]. Risks and Challenges - The company faces risks from rising raw material costs, which significantly impact production costs due to the high proportion of direct materials in overall expenses[108]. - Labor costs are increasing due to tightening human resources, which may affect the company's operating performance and profitability if the trend continues[108]. - The furniture industry is experiencing intensified competition, with many companies accelerating capacity investment and store openings, leading to a potential decline in profitability for distributors[108]. - The company is exposed to tariff risks, particularly from the U.S. imposing high tariffs that could increase global trade costs and create barriers to business development[110].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 297,367,393.83, a decrease of 28.59% compared to CNY 416,417,220.05 in the same period last year[6]. - Net profit attributable to shareholders was CNY 32,794,692.78, down 32.73% from CNY 48,753,926.16 year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 31,845,371.81, reflecting a significant decline of 51.76% from CNY 66,019,271.25 in the previous year[6]. - The basic earnings per share decreased to CNY 0.08, down 33.33% from CNY 0.12 in the same period last year[6]. - Operating profit for Q1 2025 was ¥36.17 million, a decrease of 37.7% compared to ¥58.07 million in Q1 2024[21]. - Total operating revenue for Q1 2025 was ¥297.37 million, a decrease of 28.6% compared to ¥416.42 million in Q1 2024[21]. - Net profit for Q1 2025 was ¥32.79 million, a decline of 32.7% from ¥48.75 million in Q1 2024[22]. - Basic earnings per share for Q1 2025 were ¥0.08, compared to ¥0.12 in Q1 2024[22]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 36,233,432.29, a decrease of 18.17% compared to CNY 44,280,099.84 in the same period last year[6]. - Cash flow from operating activities for Q1 2025 was ¥36.23 million, down 18.1% from ¥44.28 million in Q1 2024[24]. - Cash flow from investing activities for Q1 2025 was -¥147.47 million, compared to -¥21.08 million in Q1 2024[25]. - Cash flow from financing activities for Q1 2025 was -¥127.66 million, a significant increase from -¥40.00 million in Q1 2024[25]. - The ending cash and cash equivalents balance for Q1 2025 was ¥829.12 million, down from ¥990.08 million in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,770,520,758.85, down 3.95% from CNY 2,884,489,843.36 at the end of the previous year[7]. - As of March 31, 2025, the total assets of Chongqing Qin'an Electromechanical Co., Ltd. amounted to RMB 2,770,520,758.85, a decrease from RMB 2,884,489,843.36 as of December 31, 2024, reflecting a decline of approximately 3.93%[16]. - The company's total liabilities decreased from RMB 500,377,981.38 on December 31, 2024, to RMB 343,096,818.33 on March 31, 2025, representing a reduction of about 31.5%[17]. - The total current liabilities decreased from RMB 482,079,331.06 on December 31, 2024, to RMB 330,035,601.09 on March 31, 2025, a reduction of about 31.5%[17]. - Cash and cash equivalents decreased from RMB 1,082,660,246.99 on December 31, 2024, to RMB 958,620,941.14 on March 31, 2025, a decline of about 11.5%[15]. - Accounts receivable rose from RMB 339,948,109.25 as of December 31, 2024, to RMB 234,326,714.34 as of March 31, 2025, indicating a decrease of approximately 31.1%[15]. - Inventory increased from RMB 224,733,521.52 on December 31, 2024, to RMB 264,076,819.90 on March 31, 2025, reflecting an increase of about 17.5%[15]. - The company's short-term borrowings slightly increased from RMB 14,710,000.00 on December 31, 2024, to RMB 15,383,090.00 on March 31, 2025, an increase of approximately 4.6%[17]. - The company reported a decrease in other payables from RMB 136,654,683.62 on December 31, 2024, to RMB 7,898,972.14 on March 31, 2025, indicating a significant decline of approximately 94.2%[17]. Market Conditions - The average procurement price of aluminum increased by 4.87% year-on-year to CNY 17.73 per kg, while the average procurement price of copper rose by 11.29% to CNY 68.85 per kg[9]. - The company experienced a decrease in sales volume due to intensified industry competition, leading to a significant drop in revenue and profit margins[9]. Equity and Expenditure - The total equity attributable to shareholders increased from RMB 2,384,111,861.98 as of December 31, 2024, to RMB 2,427,423,940.52 as of March 31, 2025, marking an increase of approximately 1.8%[17]. - The company’s development expenditure increased from RMB 72,409,503.59 on December 31, 2024, to RMB 76,772,406.26 on March 31, 2025, reflecting an increase of about 6%[16]. - Other comprehensive income after tax for Q1 2025 was ¥295,591.75, compared to a loss of ¥54,975.00 in Q1 2024[22].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 324,246,660.96, representing a year-on-year increase of 12.53% compared to CNY 288,147,713.92 in the same period last year[5]. - Net profit attributable to shareholders of the listed company reached CNY 49,905,646.58, a significant increase of 71.50% from CNY 29,099,530.45 in the previous year[5]. - Basic earnings per share rose to CNY 0.11, an increase of 83.33% from CNY 0.06 in the previous year[5]. - Net profit for Q1 2025 was CNY 52,464,527.81, representing a 74.66% increase from CNY 30,013,417.31 in Q1 2024[18]. - Total comprehensive income for Q1 2025 was CNY 52,464,527.81, up from CNY 30,013,417.31 in Q1 2024[18]. Cash Flow - The net cash flow from operating activities was CNY 29,828,001.99, showing a remarkable increase of 162.12% compared to CNY 11,379,408.39 in the same period last year[5]. - Cash flow from operating activities for Q1 2025 was CNY 29,828,001.99, significantly higher than CNY 11,379,408.39 in Q1 2024[20]. - Net cash flow from investment activities was -$660.59 million, compared to -$207.71 million in the previous period[21]. - Cash inflow from financing activities totaled $1.36 billion, up from $291.64 million year-over-year[21]. - The net increase in cash and cash equivalents was $68.96 million, contrasting with a decrease of $100.37 million in the prior year[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,628,347,383.72, reflecting a year-on-year growth of 15.36% from CNY 6,612,424,832.88[6]. - Current assets amounted to RMB 2,386,444,163.70, up from RMB 1,807,426,579.99, indicating a rise of about 32.0%[14]. - Total liabilities increased to RMB 4,595,097,380.86 from RMB 3,631,789,095.23, which is an increase of approximately 26.5%[15]. - The company's equity remained stable at RMB 1,033,249,002.86, unchanged from the previous period[15]. - Non-current assets totaled RMB 5,241,903,220.02, up from RMB 4,804,998,252.89, indicating a growth of approximately 9.1%[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,849[9]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[12]. Future Plans - The company plans to continue expanding its market presence and enhancing its operational efficiency in the upcoming quarters[1]. - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[21]. Other Financial Metrics - The weighted average return on net assets increased to 1.80%, up by 0.67 percentage points from 1.13% in the previous year[5]. - The net profit after deducting non-recurring gains and losses was CNY 35,497,214.64, which is a 27.56% increase from CNY 27,828,398.69 in the same period last year[5]. - The company recorded a non-recurring gain of CNY 14,408,431.94, primarily due to the recovery of historical receivables and other factors[8]. - Research and development expenses for Q1 2025 were CNY 334,280.76, a decrease from CNY 422,240.60 in Q1 2024[17]. - The company reported a significant increase in investment income, reaching CNY 222,164.66 in Q1 2025 compared to CNY 481,149.12 in Q1 2024[18].

Financial Performance - The company's operating revenue for 2024 was CNY 2,034,465,954.30, a decrease of 6.23% compared to CNY 2,169,646,257.05 in 2023[24]. - The net profit attributable to shareholders for 2024 was a loss of CNY 123,953,594.60, a significant decline from a profit of CNY 46,769,071.25 in 2023, representing a decrease of 365.03%[24]. - The net cash flow from operating activities for 2024 was a negative CNY 42,278,843.18, down 121.94% from CNY 192,722,916.20 in 2023[24]. - The total assets at the end of 2024 were CNY 2,664,530,136.18, a decrease of 2.33% from CNY 2,728,147,802.26 at the end of 2023[24]. - The net assets attributable to shareholders decreased by 8.94% to CNY 1,861,766,185.42 at the end of 2024 from CNY 2,044,490,276.03 at the end of 2023[24]. - The basic earnings per share for 2024 was -CNY 0.32, a decline of 366.67% compared to CNY 0.12 in 2023[25]. - The weighted average return on equity for 2024 was -6.39%, a decrease of 8.70 percentage points from 2.31% in 2023[25]. - The company reported a significant increase in losses due to non-operating income adjustments, with a net profit of -CNY 139,678,781.10 for 2024 compared to -CNY 18,725,402.67 in 2023[24]. Revenue Breakdown - The apparel segment's main business revenue was CNY 1.28 billion, a year-on-year decrease of 13.99% with a gross margin of 66.01%[34]. - The children's clothing segment's main business revenue was CNY 32 million, a year-on-year decrease of 75.36%[34]. - The e-commerce service segment's main business revenue was CNY 733 million, a year-on-year increase of 9.34%[34]. - The direct sales model generated 644 million RMB in revenue, down 14.91% year-on-year, with a gross margin of 75.03%[68]. - The franchise model saw a revenue drop of 44.68% to 207 million RMB, but the gross margin increased to 61.80%[68]. - The children's clothing segment experienced a significant revenue decline of 76.34%, totaling 28.8 million RMB[69]. - Online sales revenue increased to CNY 116,175.35 million, accounting for 57.71% of total revenue, with a gross margin of 28.90%[103]. Strategic Initiatives - The company plans to enhance brand influence and market competitiveness through digital upgrades and international collaborations[31]. - The company is exploring AI technology applications in the apparel and e-commerce service sectors to achieve intelligent and efficient operations[31]. - The company has established a self-operated system across eight major regions to improve operational efficiency and response speed[35]. - In 2024, the company launched the "Quality-Price Ratio" strategy across its five major brands, aiming to position itself as a "mass daily luxury" brand by enhancing product quality without engaging in price competition[38]. - The company initiated a retail digitalization strategy in 2024, focusing on building a digital management system for products, intelligent inventory allocation, and full-chain order tracking to integrate online and offline data[38]. - The company plans to explore overseas market expansion for domestic consumer brands in 2024[61]. - The company is focusing on DTC transformation and e-commerce services as future growth points[60]. Supply Chain and Operations - The company employs a mixed production model, combining self-production, commissioned processing, and ready-to-wear procurement to manage its supply chain effectively[59]. - The company is focusing on optimizing its supply chain to ensure a supply rate of over 90% for best-selling products, reducing sales losses due to stockouts[118]. - The company intends to establish a flexible supply chain mechanism to shorten replenishment cycles and mitigate unsold inventory risks[119]. - The company has implemented measures to enhance product development accuracy and improve supply chain responsiveness to reduce inventory levels[129]. Governance and Compliance - The company has established a governance structure that includes a board of directors with six members, three of whom are independent directors, to ensure effective oversight and decision-making[132]. - The company is committed to improving its governance practices in accordance with relevant laws and regulations, ensuring transparency and accountability in its operations[132]. - The company held a total of 6 shareholder meetings during the reporting period, with all proposals approved[136]. - The company is in compliance with the Company Law and relevant regulations regarding the procedures for convening and holding shareholder meetings[136]. Employee and Management - The company has a total of 1,597 employees, with 1,214 in the parent company and 383 in major subsidiaries[155]. - The company has established a multi-layered training system to enhance employee skills and align with corporate culture[158]. - The company has a comprehensive salary policy that aligns employee compensation with performance and company profitability[156]. - The board of directors approved a compensation plan for executives, with an average increase of 10% in salaries for the upcoming year[142]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[139]. - New product launches are expected to contribute an additional 200 million yuan in revenue over the next year[139]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million yuan earmarked for potential deals[139]. - The company anticipates a recovery in domestic consumption driven by national policies, aiming to transform into a "technology-driven fashion ecosystem" by 2025[115].

Financial Performance - The company's operating revenue for Q1 2025 was ¥574,701,113.35, representing a year-on-year increase of 12.89% compared to ¥509,059,504.38 in the same period last year[4] - The net profit attributable to shareholders was ¥23,049,475.53, a significant recovery from a loss of ¥13,714,459.90 in the previous year[4] - The basic earnings per share increased to ¥0.06 from a loss of ¥0.04 in the same period last year[4] - Operating profit for Q1 2025 was ¥23,844,568.95, a significant recovery from a loss of ¥13,894,670.14 in Q1 2024[23] - Net profit for Q1 2025 was ¥22,337,315.48, compared to a net loss of ¥13,996,526.95 in Q1 2024, indicating a turnaround in profitability[24] Cash Flow - The net cash flow from operating activities was negative at -¥11,160,353.31, a decline of 545.14% compared to a positive cash flow of ¥2,507,177.82 in the previous year[4] - In Q1 2025, the cash inflow from operating activities totaled $636,954,301.81, an increase of 7.4% compared to $592,784,305.24 in Q1 2024[27] - The cash outflow for operating activities was $648,114,655.12 in Q1 2025, compared to $590,277,127.42 in Q1 2024, marking an increase of 9.8%[27] - Cash inflow from investment activities amounted to $108,859,325.96 in Q1 2025, significantly higher than $58,190,958.06 in Q1 2024, representing an increase of 86.7%[28] - The net cash flow from investment activities was $27,726,767.57 in Q1 2025, compared to $627,388.45 in Q1 2024, indicating a substantial improvement[28] - Cash inflow from financing activities was $87,463,240.84 in Q1 2025, down from $151,000,000.00 in Q1 2024, reflecting a decrease of 42.2%[28] - The net cash flow from financing activities was negative at -$102,155,352.81 in Q1 2025, contrasting with a positive $130,223,032.63 in Q1 2024[28] - The ending cash and cash equivalents balance decreased to $126,028,375.76 in Q1 2025 from $493,436,631.72 in Q1 2024, a decline of 74.5%[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,539,594,972.06, down 4.69% from ¥2,664,530,136.18 at the end of the previous year[5] - Total liabilities decreased to ¥623,486,865.34 from ¥770,952,993.38, representing a reduction of 19.2%[20] - The company's equity increased to ¥1,916,108,106.72 from ¥1,893,577,142.80, reflecting a growth of 1.2%[20] Operational Metrics - The gross profit margin for the overall business improved by 0.77 percentage points compared to the previous year, reaching 49.37%[16] - Online sales accounted for 57.85% of total revenue, with a gross margin of 32.16%, while offline sales contributed 42.15% with a gross margin of 72.99%[16] - The revenue from the JUZUI brand was RMB 16,044.65 million, with a gross profit margin of 68.55%, showing a decrease of 2.69 percentage points year-on-year[12] - The company reported a significant increase in revenue from the Northeast region, which rose by 48.02% year-on-year[17] - The overall operating costs increased by 12.38% year-on-year, reflecting the company's investment in growth strategies[12] - Total operating costs for Q1 2025 were ¥534,050,602.30, slightly up from ¥516,543,184.48 in Q1 2024, reflecting a 3.0% increase[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,325[7] - The largest shareholder, Zheng Anzheng, holds 29.61% of the shares, amounting to 118,188,853 shares[8] Future Plans - The company plans to continue expanding its market presence and developing new products and technologies[4] - The company plans to continue expanding its online sales channels, which have shown consistent growth[16] Research and Development - Research and development expenses for Q1 2025 were ¥9,752,892.38, down from ¥11,640,706.79 in Q1 2024, a decrease of 16.2%[23]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,592,834,660.31, a slight increase of 0.22% compared to CNY 1,589,268,589.07 in the same period last year[3]. - Net profit attributable to shareholders increased by 7.10% to CNY 208,991,180.87 from CNY 195,127,615.85 year-on-year[3]. - Basic and diluted earnings per share both improved by 8.33% to CNY 0.13 from CNY 0.12 in the same period last year[4]. - The company reported a net profit margin improvement, with net profit for Q1 2025 expected to be higher than the previous year, although specific figures were not disclosed[15]. - The net profit for the first quarter of 2025 was CNY 208,991,180.87, an increase of 7.4% compared to CNY 195,127,615.85 in the first quarter of 2024[16]. - The total revenue from operating activities was CNY 2,090,103,390.25, up from CNY 1,876,667,962.87 in the same period last year, representing an increase of 11.3%[19]. Cash Flow and Liquidity - The net cash flow from operating activities rose significantly by 24.23% to CNY 195,904,317.95 compared to CNY 157,691,526.41 in the previous year[3]. - Cash and cash equivalents as of March 31, 2025, were RMB 1,155,951,276.02, compared to RMB 1,178,988,446.21 as of December 31, 2024, showing a decline of approximately 1.9%[11]. - The cash flow from operating activities netted CNY 195,904,317.95, compared to CNY 157,691,526.41 in the previous year, reflecting a growth of 24.2%[20]. - The cash and cash equivalents at the end of the period were CNY 1,155,951,268.33, compared to CNY 1,066,221,102.72 at the end of the first quarter of 2024, indicating an increase of 8.4%[21]. - The company’s investment activities resulted in a net cash outflow of CNY -277,414,781.54, compared to a net inflow of CNY 37,589,536.48 in the previous year[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,548,274,973.06, reflecting a 2.38% increase from CNY 7,372,560,133.03 at the end of the previous year[4]. - Total assets as of March 31, 2025, were RMB 7,548,274,973.06, up from RMB 7,372,560,133.03, reflecting an increase of about 2.4%[13]. - Total liabilities as of March 31, 2025, were RMB 2,562,442,768.74, slightly up from RMB 2,557,671,196.47, indicating a marginal increase of about 0.2%[14]. - Shareholders' equity increased to RMB 4,985,832,204.32 from RMB 4,814,888,936.56, representing a growth of approximately 3.5%[14]. Shareholder Information - The top shareholder, Zhejiang Zhoushan Daimai Investment Co., Ltd., holds 56.37% of the shares, totaling 931,693,389 shares[7]. - The total number of ordinary shareholders at the end of the reporting period was 18,004[6]. Operating Costs and Expenses - Total operating costs for Q1 2025 were RMB 1,343,727,065.92, down from RMB 1,354,715,932.40 in Q1 2024, reflecting a decrease of about 0.8%[15]. - The company reported a significant increase in sales expenses, totaling CNY 28,723,618.44, up from CNY 26,081,271.27, which is an increase of 10.0%[16]. - Research and development expenses rose to CNY 50,289,839.75, compared to CNY 49,387,929.29, marking a 1.8% increase[16]. - The company experienced a decrease in financial expenses, reporting a net financial income of CNY -3,306,315.32, compared to CNY 17,490,117.63 in the previous year[16]. Government Subsidies and Non-Recurring Items - The company received government subsidies amounting to CNY 740,775.67, which are closely related to its normal business operations[5]. - The total amount of non-recurring gains and losses for the period was CNY 2,956,977.23 after tax adjustments[5]. Comprehensive Income - The total comprehensive income for the first quarter was CNY 170,941,300.25, slightly down from CNY 176,002,524.33 in the first quarter of 2024[17].

Financial Performance - In 2024, the company achieved operating revenue of 1.092 billion RMB, a decrease of 3.77% compared to the same period last year[4]. - The net profit attributable to shareholders was -59 million RMB, down 4.99% year-on-year, marking a loss for the year[4]. - The decline in revenue and gross profit was primarily due to a decrease in product sales prices influenced by market conditions, despite stable sales volume of water treatment agents[4]. - The company's operating revenue for 2024 was ¥1,091,796,593.72, a decrease of 3.77% compared to ¥1,134,545,865.66 in 2023[19]. - The net profit attributable to shareholders for 2024 was -¥58,610,133.27, reflecting a decline of 4.99% from -¥55,826,716.33 in 2023[19]. - The net cash flow from operating activities increased by 69.66% to ¥114,726,708.44 in 2024, compared to ¥67,623,479.43 in 2023[19]. - The total assets at the end of 2024 were ¥2,561,540,628.45, down 7.12% from ¥2,757,868,330.39 at the end of 2023[19]. - The company reported a basic earnings per share of -¥0.2277 for 2024, a decrease of 5.66% from -¥0.2155 in 2023[19]. - The company experienced a significant improvement in net profit excluding non-recurring items, which was -¥19,154,573.53 in 2024, a 34.82% improvement from -¥29,385,421.25 in 2023[19]. Business Operations - The company operates primarily in the water treatment agent and derivative products sector, focusing on production, sales, and terminal services[29]. - The company has an annual production capacity of 270,000 tons of water treatment agents, indicating a strong position in the industry[34]. - The company has evolved from a single water treatment agent manufacturer to a diversified group covering water treatment agents, industrial water treatment engineering, and comprehensive water environment governance[41]. - The company operates several subsidiaries, including Qingyuan Water Treatment, which is a leading manufacturer of water treatment chemicals with a large production capacity and a diverse product range[41]. - The company’s water treatment services include industrial water treatment system design, equipment integration, and municipal wastewater engineering, primarily acquired through public bidding[46]. Market and Industry Trends - The demand for water treatment agents is expected to continue increasing due to the growing water resource scarcity and ongoing ecological civilization construction[33]. - The water treatment agent market in China is characterized by low concentration and intense competition, with many small and medium-sized enterprises present[32]. - The industry is expected to see stricter environmental regulations, which will drive the demand for high-quality water treatment agents[33]. - The company faces challenges due to severe water resource shortages and significant water pollution issues in China, impacting industrial development[30]. Research and Development - The company is committed to enhancing its R&D capabilities by building a team of experts and focusing on the commercialization of innovative technologies[36]. - The company aims to enhance its core competitiveness by focusing on the development of green and environmentally friendly water treatment products[35]. - The company filed for 14 invention patents and 16 utility model patents during the reporting period, with a total of 25 invention patents and 123 utility model patents currently held[62]. - The company is advancing several R&D projects, including environmentally friendly water treatment agents and improvements in production processes, aimed at sustainable development[76][78]. Risk Management - The company is actively monitoring potential risks and has outlined corresponding countermeasures in its future development outlook[6]. - Future plans and strategic developments are subject to investment risks, and the company advises investors to be cautious[6]. - The company faces risks from fluctuations in raw material and product prices, which can impact gross margins and profitability due to significant price volatility during the reporting period[108]. - The company is implementing measures to mitigate risks associated with new project construction delays, including enhancing communication with regulatory bodies and strengthening technical collaborations[109]. Corporate Governance - The governance structure is compliant with relevant laws and regulations, ensuring effective checks and balances among the board, shareholders, and management[119]. - The company is committed to transparency and equal treatment of all shareholders, facilitating participation in significant decisions through accessible shareholder meetings[120]. - The company has established a dedicated investor relations management system to ensure compliance with information disclosure regulations, enhancing transparency for all shareholders[127]. - The company has a clear governance structure that complies with legal and regulatory requirements, with no significant discrepancies noted[127]. Employee Management - The total number of employees at the end of the reporting period was 862, with 807 in major subsidiaries[163]. - The professional composition includes 474 production personnel, 69 sales personnel, 144 technical personnel, 30 financial personnel, 111 administrative personnel, and 34 management personnel[163]. - The company has established a multi-level, long-term incentive system to attract and retain talent, aligning employee interests with company goals[180]. - The company has implemented a rigorous evaluation mechanism to objectively assess employee qualifications and performance, promoting a focus on personal development and long-term company growth[164]. Future Outlook - The company aims to enhance its water treatment agent R&D and production capabilities, focusing on green and environmentally friendly products[102]. - By 2025, the company plans to optimize its water treatment agent production capacity and expand its market presence[103]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[148]. - The company has allocated 100 million yuan for research and development in the upcoming fiscal year[148].

Financial Performance - The company's revenue for Q1 2025 was ¥204,511,043.25, a decrease of 28.45% compared to ¥285,843,137.73 in the same period last year[5] - The net profit attributable to shareholders was -¥5,173,961.26, representing a decline of 252.05% from a profit of ¥3,402,793.17 in the previous year[5] - Basic and diluted earnings per share were both -¥0.0202, a decrease of 254.20% from ¥0.0131 in the previous year[5] - The net profit for the current period is -4,865,354.21, compared to a net profit of 4,103,867.20 in the previous period, indicating a significant decline[20] - The total profit for the current period is -3,530,278.60, down from 7,086,419.32 in the previous period[20] - The total comprehensive income for the current period is -4,868,539.74, compared to 4,107,726.71 in the previous period[20] Cash Flow - The net cash flow from operating activities was -¥14,333,623.97, a slight increase in loss of 3.21% compared to -¥13,887,914.45 in the same period last year[5] - Cash flow from operating activities shows a net outflow of -14,333,623.97, compared to -13,887,914.45 in the previous period[22] - Cash flow from investing activities results in a net outflow of -467,274.35, compared to -70,947.93 in the previous period[23] - Cash flow from financing activities shows a net outflow of -22,511,330.80, compared to -43,207,067.22 in the previous period[23] - The company received cash from operating activities totaling 162,248,809.26, down from 200,326,017.00 in the previous period[22] - The company reported a decrease in sales cash receipts from 188,468,150.00 in the previous period to 159,318,704.97 in the current period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,424,625,491.04, down 5.35% from ¥2,561,540,628.45 at the end of the previous year[5] - The total assets as of March 31, 2025, are CNY 2,424,625,491.04, down from CNY 2,561,540,628.45 at the beginning of the period, indicating a decrease of approximately 5.3%[16] - The total liabilities decreased from CNY 1,122,212,166.91 to CNY 987,746,114.54, reflecting a reduction of about 11.9%[16] - The company's cash and cash equivalents decreased to CNY 355,163,264.90 from CNY 401,610,338.55, a decline of approximately 11.5%[15] - The company’s total equity as of March 31, 2025, is CNY 1,436,879,376.50, a slight decrease from CNY 1,439,328,461.54 at the beginning of the period[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,985, with the largest shareholder holding 37.74% of the shares[9] - The company has completed the repurchase and cancellation of 4,640,186 shares at a total price of CNY 1.00, as approved in the board meetings held on January 23 and February 13, 2025[12] Accounting and Auditing - The company did not undergo any audit for the quarterly report, indicating that the financial data has not been externally verified[4] - The company has corrected accounting errors for the years 2016-2023, which may impact the financial statements and reported figures for those years[13] Operational Performance - The decline in net profit was primarily due to a decrease in the gross margin of the company's main products, water treatment agents and derivatives[8] - The total operating revenue for the current period is CNY 204,511,043.25, a decrease of approximately 28.5% compared to CNY 285,843,137.73 in the previous period[19] - The total operating costs for the current period amount to CNY 205,335,994.45, down from CNY 279,314,131.71, reflecting a reduction of about 26.5%[19] - The net profit for the current period is not explicitly stated, but the significant decrease in both revenue and costs indicates potential challenges in profitability[19]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 57.46 billion, an increase of 1.92% compared to CNY 56.38 billion in the same period last year[5]. - Net profit attributable to shareholders was CNY 2.71 billion, reflecting a growth of 4.27% from CNY 2.60 billion year-on-year[5]. - Operating profit decreased to RMB 3.08 billion, down 25.00% from RMB 4.11 billion in the previous year[21]. - Basic earnings per share increased to RMB 0.31, compared to RMB 0.30 in the previous year, showing a growth of 3.33%[22]. - Other comprehensive income after tax was RMB 304.42 million, down from RMB 585.85 million, indicating a decrease of 48.00%[22]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -4.65 billion, a significant decline of 388.24% compared to CNY 1.61 billion in the previous year[5]. - Cash flow from operating activities was RMB 44.95 billion, a decrease from RMB 50.53 billion in the same period last year, representing a decline of 11.14%[23]. - The net cash flow from investment activities was -5.45 billion, a significant decline from 81.86 million in the previous period[24]. - Cash inflow from financing activities was 2.18 billion, up from 575.66 million in the previous year[24]. - The total cash and cash equivalents at the end of the period were 45.49 billion, down from 70.70 billion at the beginning of the period[24]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 353.46 billion, marking a 2.79% increase from CNY 343.88 billion at the end of the previous year[5]. - The total liabilities of the company reached RMB 228.32 billion, compared to RMB 221.92 billion at the beginning of the period, showing an increase of about 2.0%[19]. - The company's equity attributable to shareholders was CNY 89.48 billion, up 3.21% from CNY 86.70 billion at the end of the last year[5]. - The total equity of Weichai Power as of March 31, 2025, was RMB 125.14 billion, up from RMB 121.96 billion, reflecting an increase of approximately 2.0%[19]. Operational Metrics - The company reported a significant increase in accounts receivable by 34.61%, reaching CNY 4.16 billion compared to CNY 3.09 billion last year[11]. - The company reported a significant increase in inventory, which rose to RMB 36.48 billion from RMB 35.68 billion, a growth of about 2.2%[18]. - Management expenses rose by 56.61% to CNY 409.08 million, primarily due to efficiency-related expenses from the subsidiary KION GROUP AG[11]. - Research and development expenses were RMB 2.04 billion, slightly down from RMB 2.09 billion, indicating a decrease of 2.00%[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 224,105[12]. - The total equity attributable to shareholders reached RMB 89.48 billion, an increase from RMB 86.70 billion, reflecting a growth of 3.00%[20]. Financing Activities - The company recorded a 116.31% increase in net cash flow from financing activities, amounting to CNY 40.97 million, due to increased borrowings[11]. - The net cash flow from financing activities improved to 409.71 million, compared to a negative 2.51 billion last year[24]. - Short-term borrowings increased to RMB 3.13 billion from RMB 1.74 billion, indicating a rise of approximately 80%[19]. Market and Product Development - The company has not disclosed any new product launches or technological advancements in the provided documents[16]. - There is no mention of market expansion or mergers and acquisitions in the current financial report[16].

Financial Performance - The company's operating revenue for Q1 2025 was ¥20,447,728,414.17, a decrease of 13.90% compared to ¥23,747,478,779.97 in the same period last year[5] - Net profit attributable to shareholders increased by 34.02% to ¥445,439,544.24 from ¥332,380,304.87 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥386,176,196.07, up 32.43% from ¥291,600,496.59 in the previous year[5] - Basic and diluted earnings per share increased by 300% to ¥0.04 from ¥0.01 year-on-year[5] - The company's net profit for the current period is CNY 386,490,978.72, a decrease of 58.8% compared to CNY 936,085,793.06 in the previous period[22] - Operating profit for the current period is CNY 755,422,396.06, down 53.3% from CNY 1,615,506,739.34 in the previous period[22] - The company reported a total comprehensive income of CNY 376,521,257.29, down from CNY 914,250,804.46 in the previous period[22] Cash Flow and Liquidity - The net cash flow from operating activities improved by 17.13%, reaching -¥8,793,468,085.83 compared to -¥10,611,231,091.11 in the same period last year[5] - The company's cash and cash equivalents amount to ¥88,094,289,112.06 as of March 31, 2025, compared to ¥100,351,402,910.44 at the end of 2024, reflecting a decrease of 12.2%[18] - Cash and cash equivalents at the end of the period amount to CNY 87,134,007,161.99, compared to CNY 82,607,128,186.82 at the end of the previous period[24] - The company has a total cash inflow from financing activities of CNY 24,786,436,194.75, a decrease from CNY 37,734,411,159.10 in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥866,663,370,055.52, a slight increase of 0.74% from ¥860,308,816,014.37 at the end of the previous year[5] - The company's total liabilities stand at ¥583,864,488,230.02, an increase from ¥573,564,035,127.95, representing a rise of 1.9%[20] - Non-current assets total ¥248,237,834,217.31, up from ¥246,143,238,736.53, showing a growth of 0.8%[19] - Total current assets increased slightly to ¥618,425,535,838.21 from ¥614,165,577,277.84, indicating a growth of 0.4%[19] Equity and Shareholder Information - The equity attributable to shareholders decreased by 1.84% to ¥108,967,920,496.83 from ¥111,006,837,433.28 at the end of the last year[5] - The total equity attributable to shareholders decreased to ¥108,967,920,496.83 from ¥111,006,837,433.28, a decline of 1.9%[20] Expenses and Costs - Total operating costs for the current period are ¥19,849,682,527.08, down 10.8% from ¥22,206,949,106.13 in the previous period[21] - Research and development expenses decreased by 33.87% to ¥2,765.08 million from ¥4,181.10 million year-on-year[12] - Research and development expenses decreased to ¥27,650,782.63 from ¥41,810,985.37, a reduction of 33.9%[21] - The company reported a net profit margin decline due to increased financial expenses, which rose to ¥658,072,571.36 from ¥504,636,878.96, an increase of 30.4%[21] Investment Income - Investment income surged by 357.82% to ¥17,915.76 million from ¥3,913.30 million in the previous year[12] - The company has reported a significant increase in investment income, reaching CNY 179,157,638.89, compared to CNY 39,133,033.91 in the previous period[22] Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable by 44.44% to ¥507,008.58 million due to an increase in property management fees[11] - The company’s inventory increased to ¥375,816,845,120.39 from ¥369,183,324,334.41, reflecting a growth of 1.8%[19]