Financial Performance - The company's operating revenue for Q1 2025 was ¥1,500,809,475.09, a decrease of 13.77% compared to ¥1,740,573,333.15 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥24,602,329.85, representing a decline of 183.56% from a loss of ¥8,676,243.70 in Q1 2024[4] - The company’s basic and diluted earnings per share were both -¥0.013, a decline of 160.00% from -¥0.005 in Q1 2024[4] - Net profit for the current period is -¥25,274,925.17, compared to -¥7,059,763.85 in the previous period, indicating a significant increase in losses[24] Cash Flow and Liquidity - The cash flow from operating activities improved by 28.71%, amounting to -¥344,170,127.38 compared to -¥482,746,460.57 in the previous year[4] - The company reported a total cash balance of ¥1,857,522,160.33 as of March 31, 2025, down from ¥1,902,101,728.59 at the beginning of the period, indicating a decrease of approximately 2.3%[19] - Cash inflow from investment activities was significantly lower at 12,228,101.88 CNY, down from 120,313,041.10 CNY in the prior period[25] - The company reported a decrease in cash received from sales of goods and services to 923,241,455.66 CNY, down from 1,624,129,012.58 CNY[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥11,447,715,423.40, reflecting a 1.05% increase from ¥11,328,823,020.30 at the end of the previous year[5] - Total liabilities are ¥9,824,649,834.57, up from ¥9,682,205,297.96 in the previous period[21] - Current liabilities total ¥8,294,743,605.78, an increase of 2.57% from ¥8,087,818,143.57 in the previous period[21] - Non-current liabilities amount to ¥1,529,906,228.79, a decrease from ¥1,594,387,154.39 in the previous period[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 154,734, with the largest shareholder, Yunnan Yunnei Power Group Co., Ltd., holding 33.34% of the shares[15] - The company has a significant shareholder, Yunnan Yunnei Power Group Co., Ltd., holding 650,142,393 shares, which constitutes a controlling stake[16] - The company has a total of 10 major shareholders, with no known relationships or agreements among them that could affect voting rights[16] Impairment and Losses - The company reported a significant increase in credit impairment losses, amounting to ¥1,378,283.05, compared to a gain of -¥9,874,424.50 in Q1 2024, marking a 113.96% change[13] - The company experienced a 340.95% increase in asset impairment losses, totaling ¥9,250,428.96, compared to -¥3,839,070.68 in the previous year[13] - The company recorded a 61.26% decrease in other income, which amounted to ¥3,255,276.76, down from ¥8,403,141.09 in the same period last year[13] Regulatory and Compliance - The company is currently under investigation by the China Securities Regulatory Commission for alleged violations of information disclosure laws, with no conclusion reached yet[17] - The company is actively cooperating with the ongoing investigation and will ensure timely disclosures as required by law[17] Research and Development - Research and development expenses for the current period are ¥61,689,128.82, slightly down from ¥64,631,994.22 in the previous period[24]

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,787,400,489.10, a decrease of 8.62% compared to ¥1,956,019,373.24 in the same period last year[2] - Net profit attributable to shareholders increased by 2.85% to ¥142,558,450.11 from ¥138,606,060.91 year-on-year[2] - The net profit after deducting non-recurring gains and losses rose by 21.24% to ¥132,602,679.55, compared to ¥109,369,939.21 in the previous year[2] - Operating profit for the current period is ¥196,717,301.58, an increase of 3.4% compared to ¥190,443,878.59 in the previous period[19] - Net profit for the current period is ¥142,258,773.04, up 2.4% from ¥138,606,060.91 in the previous period[19] - Basic and diluted earnings per share for the current period are both ¥0.19, compared to ¥0.18 in the previous period[20] Cash Flow and Assets - The net cash flow from operating activities significantly decreased by 81.47% to ¥106,554,078.25 from ¥575,118,635.51 in the same period last year[2] - Cash flow from operating activities for the current period is ¥106,554,078.25, a significant decrease from ¥575,118,635.51 in the previous period[21] - Cash flow from investing activities shows a net outflow of ¥291,830,147.96, compared to a net outflow of ¥208,460,714.28 in the previous period[22] - Cash flow from financing activities results in a net inflow of ¥144,120,013.56, down from ¥258,228,925.55 in the previous period[22] - The ending cash and cash equivalents balance is ¥2,593,804,469.32, a decrease from ¥3,653,646,348.00 in the previous period[22] - The company's cash and cash equivalents decreased from approximately 2.69 billion yuan at the beginning of the period to about 2.66 billion yuan at the end of the period[14] Balance Sheet - Total assets at the end of the reporting period were ¥30,360,841,471.23, a slight decrease of 0.08% from ¥30,385,433,633.76 at the end of the previous year[2] - As of March 31, 2025, the total assets amounted to approximately 30.36 billion yuan, while total liabilities were about 19.24 billion yuan[16] - Shareholders' equity attributable to the parent company increased by 1.32% to ¥11,122,141,257.95 from ¥10,976,763,782.62[2] - The company's total equity increased from approximately 10.98 billion yuan to about 11.13 billion yuan during the reporting period[16] Receivables and Borrowings - Accounts receivable increased by 41.15% to ¥37,499,272.86, primarily due to an increase in receivables from subsidiaries[5] - Short-term borrowings rose by 73.83% to ¥1,130,750,583.33, reflecting an increase in bank loans[5] Other Income and Activities - The company reported a significant increase of 261.17% in other income to ¥9,229,591.30, attributed to increased government subsidies[5] - The company received a registration notice for medium-term notes with a total amount of 1.5 billion yuan, valid for 2 years from February 12, 2025[8] - The company established a joint venture with Wangfujing Group to operate duty-free shops in Wuhan, completing the registration process[9] - The company approved a valuation enhancement plan on February 27, 2025, to improve its market valuation[10] - The company held an online performance briefing for the 2024 annual report on April 18, 2025[10] Stock Performance - The company's stock price experienced abnormal fluctuations, with a cumulative increase exceeding 20% over three consecutive trading days in early April 2025[11] - The company issued a short-term financing bond of 500 million yuan on April 17, 2025, with a maturity of 270 days and an interest rate of 1.92%[11] - The company successfully redeemed a previous short-term financing bond of 500 million yuan on April 22, 2025[12]

Financial Performance - The company's operating revenue for 2024 was CNY 4,731,422,450, representing a decrease of 11.01% compared to CNY 5,316,816,770 in 2023[20] - The net profit attributable to shareholders for 2024 was CNY 1,217,127,620, a decrease of 5.81% from CNY 1,292,140,420 in 2023[20] - The net profit after deducting non-recurring gains and losses was CNY 1,190,354,420, down 9.89% from CNY 1,321,015,940 in the previous year[20] - The company's net cash flow from operating activities for 2024 was ¥867,008,366, a decrease of 57.61% compared to ¥2,045,514,991 in 2023[21] - The total revenue for 2024 was ¥4,731,422,456.95, down from ¥5,316,816,774.69 in 2023, representing a decline of approximately 11%[22] - The net profit attributable to shareholders for 2024 was negative at -¥892,652,112.92, with a significant increase in losses compared to -¥224,675,053.20 in the third quarter of 2023[27] - The company's total assets decreased by 11.78% to ¥11,328,823,020 at the end of 2024 from ¥12,860,720,700 at the end of 2023[21] - The net assets attributable to shareholders fell by 42.83% to ¥1,637,020,520 in 2024 from ¥2,953,581,440 in 2023[21] Dividend and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the fiscal year[5] - The company decided not to distribute cash dividends for the fiscal year 2023 due to a net loss, with available distributable profits being negative[166] Market and Product Development - The company is focusing on the research and development of gasoline engines in response to regulatory changes in the light truck market[19] - The company has maintained its commitment to diesel engine research, production, and sales since its establishment in 1999[19] - The company is actively exploring opportunities for market expansion and technological advancements in its product offerings[19] - The company is actively optimizing engine products to comply with new fuel consumption standards set to take effect in 2026[32] - The company is focusing on expanding its product strategy to include traditional and new energy power systems, including hybrid and hydrogen fuel cell technologies[39] - The company is advancing its new energy product development, with hybrid products already launched in collaboration with major automotive manufacturers[54] Sales and Production - The company sold 353,900 engines in 2024, a decrease of 5.15% year-on-year, reflecting the downturn in the commercial vehicle market[31] - The diesel engine market saw a decline in sales, with a total of 4,931,400 units sold in 2024, down 3.62% from the previous year[31] - The sales volume of engines during the reporting period was 353,933 units, representing a decrease of 5.15% compared to the previous year[42] - Engine sales volume dropped by 5.15% to 353,933 units, and production volume decreased by 9.13% to 329,430 units[60] Research and Development - The company has achieved an annual production capacity of 850,000 engines across its main production bases in Kunming, Chengdu, Qingzhou, and Hefei[41] - The company has developed the YN30NF gas engine, which is the first domestically mass-produced National VI four-cylinder gas engine, and has achieved batch sales of the G20TNF gas engine[36] - The company has a total of 335 valid patents in the engine field, including 231 utility model patents, 68 design patents, and 36 invention patents[43] - The company increased its R&D spending, which contributed to a rise in the gross margin per engine unit compared to the previous year[49] - R&D investment rose by 4.08% to approximately CNY 457.74 million, accounting for 9.67% of operating revenue[71] - R&D personnel decreased by 1.84% to 320 in 2024, while the proportion of R&D personnel increased to 12.34%[71] Corporate Governance - The company has a clear and independent operational structure, with no interference from the controlling shareholder in business decisions[121] - The company has established an independent financial department with a complete accounting system, ensuring compliance with tax regulations[123] - The company has a robust internal control system to enhance operational compliance and protect shareholder interests[110] - The company is committed to maintaining effective communication with stakeholders to balance interests and promote sustainable development[119] - The company has acknowledged the need for improvements in information disclosure practices following regulatory feedback[117] Environmental Compliance - The company has complied with various environmental protection laws and standards, ensuring no environmental violations occurred during the reporting period[184] - The company applied for a new pollution discharge permit on November 23, 2023, valid until November 22, 2028[184] - The total amount of hazardous waste disposed of by the company was 310.8 tons, with no exceedances reported[185] - The company has established dedicated environmental management departments to oversee environmental protection efforts and has implemented training programs for staff[188] - The company has made significant investments in upgrading and maintaining environmental protection facilities to ensure compliance with pollution discharge standards[189] Future Outlook - The company anticipates that the market for energy-saving and clean engine products, including non-road pure electric and hybrid products, will expand due to environmental requirements and national policies[94] - In 2025, the company aims to enhance its product quality and efficiency through technological innovation in diesel engines, hybrid systems, and hydrogen fuel cells, while also accelerating international business expansion[95] - The company expects improved profitability in its engine-related business due to market recovery and product optimization, with a focus on expanding into engineering machinery and agricultural machinery sectors[96] Employee and Management Structure - The total number of employees at the end of the reporting period was 2,594, with 1,354 in the parent company and 1,240 in major subsidiaries[162] - The company has established a salary system based on job value assessment to promote fairness and motivate employees[164] - The company plans to conduct 65 training programs in 2025, focusing on enhancing employee skills and performance[165] - The company has a total of 12 board members, including 6 independent directors[128] - The company has a stock incentive plan in place, with 250,000 shares allocated for management and 100,000 shares for other employees[129]

Financial Performance - The company's revenue for Q1 2025 reached ¥605,932,829.37, representing a 16.50% increase compared to ¥520,106,556.00 in the same period last year[5] - Net profit attributable to shareholders was ¥83,080,731.18, a significant increase of 50.66% from ¥55,145,925.84 year-on-year[5] - Basic and diluted earnings per share both increased by 50.00% to ¥0.42 from ¥0.28 in the same period last year[5] - Operating profit for the current period was ¥94,766,670.06, up 47.2% from ¥64,372,835.44 in the previous period[20] - Net profit attributable to the parent company was ¥83,080,731.18, representing a 50.6% increase from ¥55,145,925.84 in the previous period[20] Cash Flow and Investments - The net cash flow from operating activities surged by 170.17% to ¥77,070,515.89, compared to ¥28,526,967.48 in the previous year[5] - The company incurred a net cash outflow from investing activities of ¥21,974,716.85, an improvement from a net outflow of ¥24,658,387.84 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,783,717,062.54, reflecting a 0.50% increase from ¥2,769,880,939.74 at the end of the previous year[5] - Current assets totaled CNY 1,694,080,225.36, compared to CNY 1,670,441,070.85 at the start of the period, reflecting a growth of approximately 1.4%[15] - Total liabilities decreased to CNY 869,648,220.00 from CNY 879,963,561.37, a reduction of approximately 1.4%[16] - The company's equity remained stable with total equity at CNY 1,914,068,842.54, reflecting a slight change from the previous period[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,325[11] - The company repurchased 2,445,000 shares, accounting for 1.21% of the total share capital[12] - The top shareholder, Shandong LianKe Industrial Group Co., Ltd., holds 48.89% of the shares, with a total of 98,939,604 shares[12] Other Income and Expenses - The company reported a 52.57% increase in other income, totaling ¥5,679,258.61, primarily due to increased VAT refunds[9] - Research and development expenses increased to ¥22,153,034.14, up 26.5% from ¥17,449,264.74 in the previous period[19] Accounting and Reporting - The first quarter report is unaudited[23] - The new accounting standards will be implemented starting in 2025[23] - The financial statement adjustments related to the first year of implementation will be disclosed[23] - The board of directors of Shandong LianKe Technology Co., Ltd. issued the report on April 30, 2025[23]

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,454,324,789.16, a decrease of 7.25% compared to ¥1,568,036,490.60 in the same period last year[4] - Net profit attributable to shareholders was ¥100,844,222.94, down 5.47% from ¥106,677,127.35 year-on-year[4] - Basic earnings per share decreased to ¥0.21, a decline of 4.55% from ¥0.22 in the same period last year[4] - Net profit for Q1 2025 was ¥102,235,536.92, a decrease of 6.99% from ¥108,997,363.62 in Q1 2024[21] - The total comprehensive income for the first quarter of 2025 was CNY 102,235,536.92, compared to CNY 108,997,363.62 in the first quarter of 2024, reflecting a decrease of approximately 6.9%[22] - The net profit for Q1 2025 was CNY 35,120,112.37, down 40.6% from CNY 59,159,251.90 in Q1 2024[33] Cash Flow - The net cash flow from operating activities increased by 8.7% to ¥218,528,173.21, compared to ¥201,038,600.22 in the previous year[4] - The net cash flow from operating activities for Q1 2025 was negative at CNY -83,165,807.96, compared to a positive CNY 32,758,184.91 in Q1 2024[35] - The cash inflow from investment activities for Q1 2025 was CNY 104,337,234.11, significantly lower than CNY 402,882,937.72 in Q1 2024, reflecting a decrease of approximately 74.1%[25] - The cash inflow from investment activities in Q1 2025 was CNY 114,404,785.98, significantly lower than CNY 435,818,037.56 in Q1 2024[35] - The net cash flow from financing activities for Q1 2025 was CNY 180,335,199.25, compared to CNY 52,957,330.80 in Q1 2024, indicating a substantial increase of about 240.5%[26] Assets and Liabilities - Total assets as of March 31, 2025, were ¥7,647,141,781.42, reflecting a 2.70% increase from ¥7,446,203,609.51 at the end of the previous year[6] - Total liabilities increased to ¥3,641,342,728.19 from ¥3,554,030,506.19, reflecting a rise of 2.45%[17] - The total liabilities as of March 31, 2025, were CNY 1,671,506,519.87, compared to CNY 1,700,472,030.08 at the end of 2024, showing a decrease of about 1.7%[29] - The total liabilities decreased to CNY 2,537,562,519.87 in Q1 2025 from CNY 2,613,452,030.08 in Q1 2024, reflecting a reduction of 2.9%[30] Shareholder Information - The company had a total of 16,018 common shareholders at the end of the reporting period[8] - The top ten shareholders collectively held 47.75% of the company's total equity, with the largest shareholder, Anhui Energy Group, holding 41.56%[11] Equity and Investments - The total equity attributable to shareholders was ¥3,417,050,823.39, up from ¥3,300,285,057.30 at the end of the previous year[6] - The total equity increased to CNY 3,094,819,616.29 in Q1 2025 from CNY 3,046,960,083.63 in Q1 2024, representing a growth of 1.6%[30] - The company's long-term equity investments as of March 31, 2025, were valued at CNY 2,753,430,890.27, up from CNY 2,739,621,204.81 at the end of 2024, representing an increase of approximately 0.5%[28] Expenses - Total operating costs for Q1 2025 were ¥1,330,089,677.23, down from ¥1,430,026,940.50 in Q1 2024, reflecting a reduction of 6.93%[20] - Research and development expenses for Q1 2025 were ¥1,747,542.95, compared to ¥1,330,843.95 in Q1 2024, marking an increase of 31.4%[21] - The company reported a decrease in financial expenses to ¥13,320,235.36 from ¥16,963,737.19, a reduction of 21.5%[21] - The financial expenses for Q1 2025 were CNY 9,835,584.49, a decrease of 28.5% from CNY 13,682,435.88 in Q1 2024[32] - Investment income of CNY 13,435,574.93 in Q1 2025, down 39.5% from CNY 22,204,893.75 in Q1 2024[32]

Financial Performance - The company's revenue for Q1 2025 was CNY 246,160,048.21, representing a 13.71% increase compared to CNY 216,472,925.87 in the same period last year[4] - Net profit attributable to shareholders decreased by 44.38% to CNY 4,504,651.07 from CNY 8,099,072.31 year-on-year[4] - Net profit for Q1 2025 was ¥4,519,679.00, a decrease of 35.5% from ¥6,999,569.19 in Q1 2024[14] - The company's operating profit for Q1 2025 was ¥4,536,840.57, down from ¥6,862,686.22 in Q1 2024, indicating a decline of 33.8%[14] - The gross profit margin declined due to a decrease in sales prices of fruit products, leading to a significant drop in net profit[6] Cash Flow - The net cash flow from operating activities improved significantly, increasing by 280.94% to CNY 20,512,048.49, compared to a negative cash flow of CNY 11,336,365.44 in the previous year[4] - Cash inflow from operating activities for Q1 2025 was CNY 271,506,189.09, down from CNY 282,191,567.01 in Q1 2024, representing a decrease of approximately 2.4%[16] - Cash outflow for purchasing goods and services was CNY 231,113,205.60, down from CNY 276,915,415.09 in Q1 2024[16] - Cash outflow from investing activities was CNY 6,164,837.77, an increase from CNY 4,959,268.49 in Q1 2024[17] - Cash inflow from financing activities totaled CNY 60,500,000.00, compared to CNY 89,800,000.00 in Q1 2024, reflecting a decrease of approximately 32.6%[17] - The net cash flow from financing activities was negative CNY 7,113,015.60, contrasting with a positive net flow of CNY 13,063,958.57 in the previous year[17] - The ending balance of cash and cash equivalents increased to CNY 65,670,739.78 from CNY 35,370,193.53 year-over-year[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,925,206,670.65, a slight decrease of 0.54% from CNY 1,935,742,342.38 at the end of the previous year[5] - Total liabilities decreased from ¥765,143,820.40 to ¥749,438,940.67, a reduction of 2.1%[12] - The company's cash and cash equivalents showed a slight decrease, with current assets totaling ¥1,206,117,213.89 compared to ¥1,211,167,151.19 previously[12] - The equity attributable to shareholders increased by 0.40% to CNY 1,174,654,641.59 from CNY 1,170,000,461.51 at the end of the previous year[5] - The equity attributable to shareholders increased to ¥1,174,654,641.59 from ¥1,170,000,461.51, reflecting a growth of 0.4%[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,661[8] - Basic and diluted earnings per share remained unchanged at CNY 0.01[4] - Basic and diluted earnings per share remained at CNY 0.01 for the current period[15] Other Income and Expenses - The company received government subsidies amounting to CNY 115,850.93, which were included in the non-recurring gains and losses[6] - Research and development expenses increased to ¥573,547.36 in Q1 2025, compared to ¥405,056.31 in Q1 2024, marking a rise of 41.5%[13] - Other comprehensive income for Q1 2025 was ¥136,169.72, contrasting with a loss of ¥1,761,379.76 in Q1 2024[14] - The total comprehensive income attributable to minority shareholders was CNY 15,027.93, a decrease of CNY 1,099,503.12 compared to the previous period[15] Accounting Standards - The company will not apply new accounting standards starting from 2025[18]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 770,318,916.82, representing a 21.88% increase compared to CNY 632,019,899.09 in the same period last year[4]. - Net profit attributable to shareholders was CNY 102,057,101.42, up 15.62% from CNY 88,267,742.55 year-on-year[4]. - Basic earnings per share rose to CNY 0.12, a 9.09% increase from CNY 0.11 in the same period last year[5]. - The net profit for Q1 2025 reached CNY 101,922,640.30, an increase of 15.4% compared to CNY 88,257,157.73 in Q1 2024[18]. - The total comprehensive income attributable to the parent company was CNY 101,920,833.93, compared to CNY 88,267,742.55 in the same quarter last year, marking a 15.5% increase[19]. Cash Flow and Operating Activities - The net cash flow from operating activities increased by 35.34% to CNY 76,262,347.21, compared to CNY 56,346,880.94 in the previous year[4]. - The total revenue from operating activities was CNY 462,186,954.28, up from CNY 438,712,167.07 in the same period last year, reflecting a growth of 5.3%[20]. - The cash flow from operating activities showed a net increase of CNY 76,262,347.21, compared to CNY 56,346,880.94 in Q1 2024, indicating a 35.4% improvement[20]. - The company experienced a cash and cash equivalents balance of CNY 451,500,590.49 at the end of Q1 2025, down from CNY 805,785,616.09 at the end of Q1 2024[21]. - The cash flow from financing activities resulted in a net outflow of CNY 12,735,383.76, contrasting with a net inflow of CNY 19,926,376.07 in the previous year[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,831,473,778.59, a slight decrease of 0.41% from CNY 6,859,807,618.48 at the end of the previous year[5]. - Total current assets as of March 31, 2025, were ¥3,734,929,959.67, slightly down from ¥3,783,729,658.67 as of December 31, 2024[13]. - Total liabilities decreased to ¥3,170,042,134.50 as of March 31, 2025, from ¥3,301,212,756.71 as of December 31, 2024, a reduction of approximately 4%[14]. - Non-current assets increased to ¥3,096,543,818.92 as of March 31, 2025, compared to ¥3,076,077,959.81 as of December 31, 2024, reflecting a growth of about 1%[13]. - The company's total assets as of March 31, 2025, were ¥6,831,473,778.59, a slight decrease from ¥6,859,807,618.48 as of December 31, 2024[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,337[9]. - The top shareholder, Feng Xiao Hong, holds 23.54% of the shares, totaling 195,632,833 shares[9]. Other Income and Expenses - The company received government subsidies amounting to CNY 16,377,136.31, contributing to other income growth of 144.95%[6]. - The company reported a significant increase in other income, totaling CNY 16,377,136.31, compared to CNY 6,685,895.31 in Q1 2024, reflecting a growth of 145.5%[18]. - The interest expenses for the period were CNY 10,336,322.82, slightly down from CNY 10,630,137.63 in the previous year[18]. Investment and R&D - The company reported a significant increase in trading financial assets by 410.14%, primarily due to investments in bank wealth management products[6]. - Research and development expenses in Q1 2025 amounted to ¥34,219,221.19, compared to ¥29,644,224.76 in Q1 2024, indicating an increase of 15%[17]. - The company reported a significant increase in investment activities, with cash outflow totaling CNY 1,058,282,227.06, compared to CNY 130,843,503.73 in Q1 2024[21].

Financial Performance - Revenue for Q1 2025 was CNY 784.49 million, a decrease of 12.99% compared to CNY 901.65 million in the same period last year[3]. - Net profit attributable to shareholders was CNY 140.98 million, down 34.07% from CNY 213.81 million year-over-year[3]. - Basic earnings per share decreased by 34.09% to CNY 0.29 from CNY 0.44 in the previous year[3]. - Gross profit for Q1 2025 was CNY 180,623,594.81, compared to CNY 261,844,210.98 in Q1 2024, indicating a decline of 30.9%[17]. - Operating profit for Q1 2025 was CNY 157,045,038.18, down from CNY 245,964,888.66 in the same period last year, representing a decline of 36%[18]. - The total comprehensive income for Q1 2025 was CNY 143,028,221.58, down from CNY 196,713,334.14 in Q1 2024, reflecting a decrease of about 27%[19]. - Basic and diluted earnings per share for Q1 2025 were both CNY 0.29, down from CNY 0.44 in Q1 2024[19]. Cash Flow and Assets - Operating cash flow turned negative at CNY -8.50 million, a decline of 102.76% compared to CNY 307.76 million in the same period last year[3]. - Cash flow from operating activities for Q1 2025 was negative at CNY -8,501,578.80, contrasting with a positive cash flow of CNY 307,761,819.87 in Q1 2024[23]. - Cash flow from investment activities in Q1 2025 was CNY 555,926,985.36, a significant improvement compared to CNY -965,252,463.70 in Q1 2024[23]. - Cash and cash equivalents as of March 31, 2025, were CNY 2,064,546,794.15, down from CNY 2,580,796,045.18 as of December 31, 2024, a decrease of 20.0%[12]. - The total cash and cash equivalents at the end of Q1 2025 stood at CNY 1,411,393,873.19, compared to CNY 1,591,402,203.55 at the end of Q1 2024[24]. - The company reported a net increase in cash and cash equivalents of CNY 465,032,675.45 for Q1 2025, compared to a decrease of CNY -791,881,612.37 in Q1 2024[24]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,569[8]. - The largest shareholder, Zhejiang Haixing Holding Group Co., Ltd., holds 49.3% of the shares[9]. Assets and Liabilities - Total assets increased by 0.64% to CNY 9.54 billion from CNY 9.48 billion at the end of the previous year[4]. - Total current assets as of March 31, 2025, were CNY 5,580,807,500.14, down from CNY 6,129,296,377.01 as of December 31, 2024, a decline of 9.0%[13]. - Total liabilities as of March 31, 2025, were CNY 2,259,816,254.30, compared to CNY 2,339,438,064.74 as of December 31, 2024, a decrease of 3.4%[14]. - Total assets as of March 31, 2025, were CNY 9,538,508,831.92, slightly up from CNY 9,478,317,442.50 as of December 31, 2024, an increase of 0.6%[15]. Research and Development - Research and development expenses for Q1 2025 amounted to CNY 74,324,363.72, an increase of 18.4% from CNY 62,829,013.93 in Q1 2024[17]. - The company continues to focus on R&D, indicating a strategic commitment to innovation despite declining revenues[17]. Other Financial Metrics - Non-recurring gains and losses totaled CNY -1.96 million, primarily due to increased expenses and revenue decline[6]. - The company reported a decrease in the weighted average return on equity by 1.23 percentage points to 1.96%[3]. - The company experienced a foreign exchange gain of CNY 6,776,326.14 in Q1 2025, contrasting with a loss of CNY -1,206,029.28 in Q1 2024[24].

Financial Performance - The company's operating revenue for Q1 2025 was ¥628,668,847.63, a decrease of 5.56% compared to ¥630,497,061.74 in the same period last year[5]. - Net profit attributable to shareholders was ¥18,983,192.59, down 34.33% from ¥24,468,894.47 year-on-year[5]. - Basic earnings per share decreased to ¥0.04, a decline of 33.33% from ¥0.05 in the same period last year[5]. - Net profit for Q1 2025 was ¥36.99 million, a decline of 23.36% compared to ¥48.32 million in Q1 2024[20]. - The total profit for Q1 2025 was ¥52.91 million, down 20.73% from ¥66.41 million in Q1 2024[20]. Cash Flow and Management - The net cash flow from operating activities improved to ¥48,795,270.92, compared to a negative cash flow of ¥35,295,940.09 in the previous year[5]. - Cash flow from operating activities for Q1 2025 was ¥48.80 million, a significant improvement from a negative cash flow of ¥32.97 million in Q1 2024[22]. - Cash and cash equivalents increased to ¥476,672,493.03 from ¥321,592,894.07, representing a growth of approximately 48.3%[14]. - Cash and cash equivalents at the end of Q1 2025 increased to ¥315.75 million from ¥247.07 million at the end of Q1 2024[23]. - The company has strengthened cash management, which contributed to the significant improvement in cash flow from operating activities[7]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,161,090,081.38, a decrease of 1.38% from ¥4,219,515,694.00 at the end of the previous year[5]. - The company's current assets totaled RMB 1,104,375,933.62, down from RMB 1,143,070,562.94, indicating a decrease of about 3.38%[14]. - The company's total liabilities decreased to RMB 2,278,784,496.52 from RMB 2,378,198,372.40, a reduction of about 4.19%[16]. - Long-term borrowings rose significantly to RMB 559,600,000.00 from RMB 332,800,000.00, marking an increase of approximately 68%[16]. - The total current liabilities decreased to RMB 1,484,907,287.17 from RMB 1,734,981,532.20, a decline of approximately 14.4%[16]. Equity and Shareholder Information - Shareholders' equity attributable to shareholders increased by 1.54% to ¥1,510,903,736.59 from ¥1,487,920,579.80 at the end of the previous year[5]. - The company's equity attributable to shareholders increased to RMB 1,510,903,736.59 from RMB 1,487,920,579.80, reflecting a growth of about 1.7%[16]. Operational Insights - The decrease in net profit was primarily due to reduced revenue from gas equipment and operation services[7]. - The company completed the acquisition of 100% equity in Shandong Shengdong Gas Comprehensive Utilization Co., Ltd., which was included in the consolidated financial statements from September 2024[5]. - Research and development expenses decreased to ¥2.51 million in Q1 2025 from ¥4.00 million in Q1 2024, a reduction of 37.24%[19]. Inventory and Receivables - The company's inventory slightly decreased to RMB 176,433,786.88 from RMB 177,886,149.71, a reduction of about 0.81%[14]. - The accounts receivable increased to RMB 240,038,356.05 from RMB 234,467,671.99, indicating a growth of approximately 2.4%[14]. - The company reported a significant increase in prepayments to RMB 60,304,317.55 from RMB 40,261,142.71, representing a growth of about 49.9%[14].

Financial Performance - The company's revenue for Q1 2025 was ¥257,034,222, a decrease of 9.73% compared to ¥284,730,246 in the same period last year[4] - Total operating revenue for Q1 2025 was ¥257,034,222, a decrease of 9.7% compared to ¥284,730,246 in Q1 2024[15] - Net profit for Q1 2025 was a loss of ¥1,177,459, compared to a loss of ¥4,180,420 in Q1 2024, indicating an improvement of 71.8%[16] - The net profit attributable to shareholders was -¥960,847, an improvement from -¥4,628,470 year-on-year[4] Cash Flow and Liquidity - The net cash flow from operating activities increased by 102.43%, reaching ¥31,725,448, compared to ¥15,672,624 in the previous year[4] - Cash flow from operating activities for Q1 2025 was ¥31,725,448, an increase from ¥15,672,624 in Q1 2024[19] - Cash flow from investing activities for Q1 2025 was ¥78,923,829, a significant recovery from a negative cash flow of ¥144,436,068 in Q1 2024[19] - Cash and cash equivalents at the end of Q1 2025 totaled ¥257,368,205, up from ¥227,612,372 at the end of Q1 2024[20] - The company's cash and cash equivalents increased to CNY 258,409,546 from CNY 181,897,320, representing a growth of approximately 42.2%[11] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,633,508,673, a decrease of 0.50% from ¥1,641,758,790 at the end of the previous year[5] - The company's total liabilities amounted to CNY 569,450,736, a slight decrease from CNY 576,123,095[13] - Total current liabilities decreased to CNY 308,310,747 from CNY 321,456,935, a decline of approximately 4.1%[13] - The company's long-term borrowings increased to CNY 188,000,000 from CNY 180,000,000, an increase of about 4.4%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,598[8] - The largest shareholder, Qingdao Hetian Trading Partnership, held 17.45% of the shares, totaling 73,239,821 shares[8] - The equity attributable to shareholders decreased by 0.13%, amounting to ¥1,041,330,061 compared to ¥1,042,691,207 at the end of the previous year[5] - The total equity attributable to shareholders decreased to CNY 1,041,330,061 from CNY 1,042,691,207, a decrease of approximately 0.1%[13] Expenses and Costs - Total operating costs for Q1 2025 were ¥252,554,192, down from ¥284,287,554 in Q1 2024, reflecting a reduction of 11.2%[15] - Sales expenses for Q1 2025 were ¥123,858,639, slightly down from ¥132,723,959 in Q1 2024, a decrease of 6.5%[15] - Research and development expenses for Q1 2025 were ¥6,161,575, down from ¥7,520,952 in Q1 2024, reflecting a decrease of 18.1%[15] Government Support and Other Income - The company received government subsidies amounting to ¥500,494, which were closely related to its normal business operations[6] - Non-recurring gains and losses totaled ¥1,917,652 after accounting for tax and minority interests[6] - The company recorded other comprehensive income after tax of -¥415,978 in Q1 2025, compared to -¥273,543 in Q1 2024, indicating a worsening in comprehensive income[16] Inventory and Investments - Inventory decreased to CNY 240,597,316 from CNY 263,141,050, reflecting a reduction of about 8.6%[11] - The company’s total current assets increased to CNY 815,489,787 from CNY 802,480,108, an increase of approximately 1.4%[11] - The company’s long-term equity investments increased to CNY 17,193,064 from CNY 16,852,234, reflecting a growth of about 2%[12] Operational Focus - The company focused on optimizing and upgrading channels, which led to a significant reduction in overall expenses, contributing to a decrease in losses[7]