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]

Financial Performance - The company's revenue for Q1 2025 reached ¥5,098,691,636.38, representing a 9.17% increase compared to ¥4,670,618,874.87 in the same period last year[3]. - Net profit attributable to shareholders was ¥1,644,056,273.98, up 7.27% from ¥1,532,586,659.57 year-on-year[3]. - The total operating revenue for the first quarter of 2025 was CNY 4,676,826,736.42, up from CNY 3,729,576,745.85 in the first quarter of 2024, reflecting a growth of 25.3%[18]. - The operating profit for the first quarter of 2025 was CNY 2,181,658,054.58, compared to CNY 2,037,694,386.84 in the previous year, indicating an increase of 7.0%[16]. - The company reported a total comprehensive income of CNY 1,644,056,273.98 for the first quarter of 2025, compared to CNY 1,532,586,659.57 in the same period of 2024[17]. - The basic and diluted earnings per share for the first quarter of 2025 were both CNY 1.3186, up from CNY 1.2292 in the first quarter of 2024, reflecting an increase of 7.3%[17]. Cash Flow and Assets - The net cash flow from operating activities increased by 42.50%, amounting to ¥1,427,343,057.92 compared to ¥1,001,644,444.07 in the previous year[3]. - The cash flow from operating activities for the first quarter of 2025 was CNY 1,427,343,057.92, compared to CNY 1,001,644,444.07 in the first quarter of 2024, representing a growth of 42.5%[19]. - Cash and cash equivalents increased to RMB 6,334,788,375.95 from RMB 6,158,045,490.18, representing a growth of 2.9%[11]. - The cash and cash equivalents at the end of the first quarter of 2025 amounted to CNY 6,238,895,124.25, down from CNY 7,384,578,479.77 at the end of the first quarter of 2024[20]. - Current assets as of March 31, 2025, totaled RMB 14,155,629,293.63, compared to RMB 13,928,397,619.13 at the end of 2024, indicating an increase of 1.6%[11]. Liabilities and Equity - Total liabilities decreased to RMB 8,026,864,545.47 from RMB 8,768,246,857.30, a reduction of 8.4%[13]. - Shareholders' equity increased to RMB 17,098,121,035.51 from RMB 15,453,651,528.39, a growth of 10.6%[13]. - Total assets at the end of the reporting period were ¥25,124,985,580.98, a 3.73% increase from ¥24,221,898,385.69 at the end of the previous year[4]. - Total assets as of March 31, 2025, amounted to RMB 25,124,985,580.98, up from RMB 24,221,898,385.69, reflecting an increase of 3.7%[12]. Operational Highlights - The company reported a significant increase in accounts receivable, which rose by 58.57% due to higher sales on e-commerce platforms[6]. - The company reported a significant increase in accounts receivable, rising to RMB 55,275,200.47 from RMB 34,858,334.75, an increase of 58.5%[11]. - The company experienced a 66.19% decrease in contract liabilities, attributed to seasonal factors affecting advance payments[6]. - The total operating costs for the first quarter of 2025 were CNY 2,949,204,237.00, an increase from CNY 2,667,929,303.18 in the same period of 2024[16]. - The company incurred tax expenses of CNY 538,192,833.70 in the first quarter of 2025, compared to CNY 505,930,173.19 in the previous year, marking an increase of 6.4%[16]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[3]. - The company has not indicated any new product launches or major strategic changes during the reporting period[10].

Financial Performance - The company's operating revenue for 2024 was CNY 348,114,581.36, representing a 16.95% increase from CNY 297,653,968.87 in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of CNY 52,859,917.22, which is a 22.77% decline compared to a loss of CNY 40,162,973.19 in 2023[22]. - The net cash flow from operating activities for 2024 was CNY -18,973,008.56, a significant decrease of 468.46% from CNY -41,668,781.51 in 2023[22]. - The total assets at the end of 2024 were CNY 1,614,893,582.90, marking a 4.77% increase from CNY 1,561,684,425.76 at the end of 2022[22]. - The net assets attributable to shareholders decreased by 5.00% to CNY 1,004,177,238.84 at the end of 2024 from CNY 1,100,163,060.03 at the end of 2022[22]. - The company reported a quarterly operating revenue of CNY 126,589,916.66 in Q4 2024, which is part of a total annual revenue of CNY 348,114,581.36[28]. - The company achieved a total operating revenue of ¥348,114,581.36 in 2024, representing a year-on-year increase of 16.95% compared to ¥297,653,968.87 in 2023[112]. - The industrial segment contributed ¥327,555,630.21, accounting for 94.09% of total revenue, with a year-on-year growth of 20.25%[112]. - The revenue from new energy electric vehicle charging equipment reached ¥61,021,971.70, marking a 26.20% increase from ¥48,353,983.71 in the previous year[112]. - The company reported a significant decline in the energy storage business revenue, which fell by 72.74% to ¥659,876.12 from ¥2,420,490.43 in the previous year[113]. - Domestic sales accounted for 99.78% of total revenue, with a year-on-year increase of 18.84%, while international sales dropped by 85.53% to ¥780,067.10[112]. Business Operations - The company’s main business has not changed since its listing, indicating stability in operations[20]. - The company has not disclosed any changes in its controlling shareholders since its listing, indicating consistent ownership[20]. - The company has established a joint laboratory with Hong Kong Polytechnic University to advance research in sustainable new power systems[41]. - The company has participated in major projects such as the world's largest green energy project base, including the Baihetan Hydropower Station and the Jiangsu Rudong offshore wind project[42]. - The company has delivered over 50,000 industrial power supply units, maintaining a leading market share in both State Grid and Southern Grid for several consecutive years[44]. - The company has installed over 300 MW of charging power across various electric vehicle charging stations nationwide, making it one of the earliest entrants in the electric vehicle charging sector in China[48]. - The company has invested in and operated over 150 flexible public charging demonstration stations across multiple cities, achieving a 30% increase in charging equipment utilization compared to traditional fixed-power charging devices[49]. - The company operates the largest public charging network in China with a total installed capacity exceeding 200 MW, and has a self-built distribution capacity of over 170 MVA[52]. - The company has initiated research on key devices for bidirectional interaction between electric vehicles and the grid, including V2G charging and discharging machines, and has developed a unified charging operation monitoring cloud platform[54]. - The company has been a pioneer in the energy storage sector since 2010, producing energy storage inverters with power ranges from 30 kW to 3.4 MW, applicable in various energy systems[56]. - The company has delivered over 20,000 sets of high-voltage energy extraction power supplies for major projects, including the world's highest voltage level and largest capacity flexible direct current projects[60]. Research and Development - The company has a patent portfolio of nearly 200 and has drafted over 70 IEC international standards, showcasing its strong R&D capabilities[41]. - The company aims to enhance its core competitiveness through technological iteration, market diversification, and supply chain optimization[35]. - The company has developed a ChaoJi charging system that enhances the maximum output capacity of a single charging port to 600 kW, enabling a 300 km range with just 5 minutes of charging, positioning its technology at an international leading level[50]. - The company has developed several industry-leading products, including a 27.5kV high-power railway power fusion device that has been in stable operation for 5 years[93]. - The company has launched a series of innovative products, including a new 3KW and 6KW power module, enhancing its product line and core competitiveness[103]. - The company has established a new delivery center and optimized its organizational structure to enhance cost control and customer service[105]. - The company has received multiple certifications, including ISO9001, ISO14001, and ISO45001, ensuring a robust quality management system[99]. - The company has implemented a comprehensive quality management system, achieving its quality, environmental, and occupational health safety goals for 2024[108]. - The company aims to enhance product performance and reduce costs through new technology developments, including the fourth-generation DC power supply module and various charging devices[124]. - The company is focused on expanding its market presence and enhancing its product offerings in the power equipment sector[200]. Market Trends and Future Outlook - The industrial power sector is expected to see increased demand due to the government's push for non-fossil energy consumption to reach 20% by 2025[34]. - The new energy vehicle market is expected to continue growing, driven by government policies and infrastructure development, with a focus on charging facilities[37]. - The company anticipates a continued increase in electricity demand, with a projected growth rate of 6.8% in 2024[155]. - The company aims to enhance its market competitiveness and maximize the benefits of the electric vehicle public charging station project through strategic adjustments[146]. - The company plans to focus on direct sales in the new energy vehicle charging business, leveraging a stable R&D team and strong marketing capabilities to meet customized customer needs[160]. - The company will actively participate in overseas exhibitions to expand sales channels for new energy vehicle charging equipment, anticipating significant growth in exports[160]. - The company acknowledges potential risks from increasing overseas operations, including political, economic, and currency risks, and plans to adjust strategies accordingly[170]. Corporate Governance - The company has established a governance structure that ensures compliance with relevant laws and regulations, maintaining independence from its controlling shareholder[176]. - The company held 5 supervisory board meetings during the reporting period, ensuring compliance with regulations and protecting shareholder interests[178]. - The company implemented a scientific and effective incentive and restraint mechanism for directors, supervisors, and senior management to align with strategic development goals[180]. - The company has established independent financial management systems, ensuring no interference from controlling shareholders in financial decisions[185]. - The company has a complete and independent business structure, with no competition or dependency on controlling shareholders[184]. - The company has established a complete governance structure, including a board of directors, supervisory board, and management team, operating independently[185]. - The company actively engages with stakeholders to balance interests and fulfill social responsibilities[181]. - The company ensures timely and accurate information disclosure, enhancing transparency and communication with investors[182]. Subsidiary Performance - Major subsidiaries reported varying financial performances, with Shenzhen Aotexun Technology Co., Ltd. showing a net loss of 2,999,743.94[151]. - The total assets of the main subsidiary, Xi'an Aotexun Electric Power Equipment Co., Ltd., amounted to 31,175,456.46, with a net loss of 407,735.07[151]. - The company’s subsidiary, Shenzhen Aotexun Energy Technology Co., Ltd., reported a net loss of 144,612.98[151]. - The company’s subsidiary, Beijing Aotexun Technology Co., Ltd., had a net loss of 471,403.81[151]. - The total revenue for the main subsidiary, Shenzhen Qianhai Aotexun New Energy Service Co., Ltd., was 44,678,383.55[151]. - The company established new subsidiaries to optimize the layout of the new energy vehicle charging business, including Baoding, Beijing, and Haikou[154].

Revenue and Profitability - Revenue for Q1 2025 was ¥46,412,627.14, a decrease of 12.17% compared to ¥52,842,060.73 in the same period last year[5] - Net profit attributable to shareholders was -¥17,860,504.02, representing a decline of 22.34% from -¥14,598,690.13 year-on-year[5] - The company recorded a net loss of -¥19,853,378.19 after deducting non-recurring gains and losses, a decline of 25.76% from -¥15,786,239.14 year-on-year[5] - The net profit attributable to the parent company decreased to CNY 22,389,030.44 from CNY 40,249,534.46, highlighting a decline in profitability[20] - Operating profit was recorded at -¥17,995,502.17, worsening from -¥14,617,626.45 in the prior period, reflecting a decline of about 23.5%[23] - Total comprehensive income amounted to -¥18,444,593.39, compared to -¥15,474,631.64 in the previous period, representing an increase in comprehensive losses of approximately 19.1%[24] - The basic and diluted earnings per share were both -¥0.0721, worsening from -¥0.0589 in the previous period[24] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥13,194,201.75, a 41.61% increase compared to -¥22,595,505.36 in the previous year[11] - Cash flow from operating activities showed a net outflow of -¥13,194,201.75, an improvement from -¥22,595,505.36 in the previous period, indicating a reduction in cash burn of about 41.6%[26] - Cash and cash equivalents decreased to CNY 81,662,860.17 from CNY 132,333,483.07, indicating a liquidity contraction[16] - Cash and cash equivalents at the end of the period stood at ¥73,251,482.77, down from ¥104,630,505.52, reflecting a decrease of about 30%[27] - The company experienced a cash outflow from investing activities of -¥3,139,660.52, an improvement from -¥5,189,966.19 in the previous period, indicating a reduction in investment losses of about 39.5%[27] Assets and Liabilities - Total assets decreased by 3.37% to ¥1,560,515,921.06 from ¥1,614,893,582.90 at the end of the previous year[5] - The company's total assets decreased to CNY 1,560,515,921.06 from CNY 1,614,893,582.90, indicating a contraction in the asset base[20] - Total liabilities decreased to CNY 575,327,972.83 from CNY 611,261,041.28, reflecting a reduction in financial obligations[19] - The company’s total equity attributable to shareholders decreased by 1.78% to ¥986,319,334.67 from ¥1,004,177,238.84 at the end of the previous year[5] Research and Development - Research and development expenses rose by 56.04% to ¥10,927,228.27 from ¥7,002,925.92 in the same period last year[10] - Research and development expenses increased significantly to CNY 10,927,228.27, up from CNY 7,002,925.92, reflecting a focus on innovation[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 38,196[13] Credit and Impairment - The company reported a significant increase in credit impairment losses of 218.10%, amounting to ¥1,127,688.70[10] - The company incurred a credit impairment loss of ¥1,127,688.70, compared to a gain of ¥954,888.52 in the previous period, indicating a significant shift in credit quality[23] Other Income - The company reported other income of ¥3,490,907.98, an increase from ¥2,712,284.91 in the previous period, representing a growth of approximately 28.6%[23] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[22]

Financial Performance - The company's operating revenue for 2024 is CNY 944.88 million, a decrease of 32.35% compared to CNY 1,396.63 million in 2023[29]. - The net profit attributable to shareholders for 2024 is CNY -403.57 million, an improvement of 47.63% from CNY -770.63 million in 2023[29]. - The net cash flow from operating activities for 2024 is CNY 30.87 million, a decline of 91.00% compared to CNY 343.01 million in 2023[29]. - The total assets at the end of 2024 amount to CNY 2,039.23 million, down 32.37% from CNY 3,002.45 million at the end of 2023[29]. - The net assets attributable to shareholders at the end of 2024 are CNY 175.41 million, a decrease of 64.91% from CNY 487.02 million at the end of 2023[29]. - The basic earnings per share for 2024 is CNY -0.3367, an improvement of 47.63% from CNY -0.6429 in 2023[29]. - The company's operating revenue for 2024 is approximately ¥944.88 million, a decrease of about 32.4% from ¥1,396.63 million in 2023[30]. - After deducting non-recurring gains and losses, the net profit for 2024 is negative, with a total loss of approximately ¥327.07 million in Q4 alone[34]. - The company reported a total cash flow from operating activities of approximately ¥64.81 million in Q4 2024, showing a significant recovery from a negative cash flow of ¥80.41 million in Q2[34]. - The revenue from IoT products was 634,811,272.39, with a gross profit margin of 35.77%, reflecting a decrease of 7.49% in revenue year-on-year[138]. - The company reported a net loss attributable to shareholders of -42,409,334.00 for the current period[137]. Business Strategy and Transformation - The company is undergoing a business transformation that requires a substantial demand for management and technical talent, which may affect the smooth implementation of this transformation[6]. - The company plans to continue its focus on the development of smart devices and electronic products, expanding its market presence in these areas[27]. - The operational strategy includes leveraging industry partnerships and advanced integration platforms to expand into new markets and enhance service offerings[45]. - The company aims to enhance its competitiveness in the smart city sector by providing comprehensive services from planning to operation, leveraging its technological advantages[42]. - The company is committed to advancing smart education by leveraging technologies like big data and AI to create a new educational service and management system[108]. - The company aims to achieve profitability by 2025, focusing on sustainable development and enhancing core capabilities while leveraging international operations and strategic resources[178]. - Key initiatives for 2025 include deepening IoT product development, expanding sales channels, and optimizing supply chain management to improve gross margins[178]. - The company plans to adjust its solution business focus, targeting specific sectors like parks and industrial buildings, while strengthening collaboration with state-owned enterprises[179]. Market Environment and Competition - The software and information technology services industry is highly competitive, with increasing competition potentially impacting the company's future performance[7]. - The company faces significant risks related to rapid technological updates in the software and information technology services industry, which may impact future development[5]. - The company has a rising proportion of overseas business, which may be affected by geopolitical changes and international trade disputes[8]. - New Pu Hulian, an internet marketing service provider, has seen a continuous decline in revenue and profit margins due to regulatory pressures and market competition, leading to a decision for operational optimization and business contraction in 2024[46]. Risk Management - The company faces foreign exchange risks due to its overseas subsidiaries and the primary settlement currency being USD, which may impact financial performance[10]. - The company emphasizes the importance of cybersecurity but remains vulnerable to potential network attacks[11]. - The company is actively managing foreign exchange risks through various hedging strategies while ensuring safety and liquidity[182]. - The company is committed to improving its internal control systems and project evaluation methods to mitigate risks related to local government debt[182]. Research and Development - The company has established R&D centers in Shenzhen and Melbourne, focusing on technologies such as AI, big data, and 5G for smart city applications[127]. - The company has completed the AI platform project aimed at enhancing productivity and reducing costs through advanced AI applications[145]. - The company has accumulated over 30 years of experience in video IoT technology, developing a full range of smart IoT products and solutions for smart cities and buildings[120]. - R&D investment increased by 1.16% from 88,558,501.74 yuan in 2023 to 89,583,947.85 yuan in 2024, with R&D investment as a percentage of operating revenue rising from 6.34% to 9.48%[148]. Governance and Compliance - The company maintains a transparent governance structure, ensuring compliance with relevant laws and regulations while protecting the rights of all shareholders[186]. - The company has established a comprehensive internal audit system to oversee financial activities and risk management, promoting governance and protecting investor rights[188]. - The company has a performance evaluation and incentive mechanism for senior management that combines base salary with annual performance assessments[188]. - The company has a dedicated board of directors and supervisory board that operate independently, ensuring effective governance and management[192]. Shareholder Relations - The company has established a future three-year shareholder return plan for 2024-2026, indicating a commitment to shareholder value[190]. - The company reported a 53.65% approval rate at the annual shareholders' meeting, demonstrating strong support from shareholders[194]. - The company plans to distribute profits as per the 2023 profit distribution proposal, reflecting a commitment to shareholder returns[194]. - The company has a comprehensive investor relations management system, ensuring smooth communication with investors through various channels, including phone, interactive platforms, and performance briefings[189].

Financial Performance - The company's revenue for Q1 2025 was ¥103,823,880.16, a decrease of 61.26% compared to ¥268,029,824.10 in the same period last year[4] - Net profit attributable to shareholders was ¥4,786,768.91, a significant improvement of 111.29% from a loss of ¥42,409,334.10 in the previous year[4] - The company's net loss for the current period is reflected in the retained earnings, which show a decrease to -¥3,501,781,682.10 from -¥3,506,568,451.19[23] - The total profit for the current period is 4,167,788.26, while the previous period recorded a total loss of 41,320,983.19[26] - The total comprehensive income for the current period is 5,785,781.52, while the previous period experienced a comprehensive loss of 44,250,785.47[26] - The basic and diluted earnings per share for the current period are both 0.004, compared to -0.0354 in the previous period[26] Cash Flow - The net cash flow from operating activities was -¥9,893,453.64, a decline of 123.80% compared to ¥41,572,993.34 in the same period last year[9] - Cash flow from operating activities shows a net outflow of 9,893,453.64, down from a net inflow of 41,572,993.34 in the previous period[27] - Cash flow from investing activities resulted in a net outflow of 7,211,893.19, compared to a net outflow of 5,331,995.65 in the previous period[28] - Cash flow from financing activities recorded a net outflow of 5,952,142.49, an improvement from a net outflow of 73,123,011.59 in the previous period[28] - The company received cash from borrowing amounting to 202,000,000.00, a significant increase from 47,833,330.39 in the previous period[28] Assets and Liabilities - The company's total assets decreased by 4.36% to ¥1,950,421,114.19 from ¥2,039,232,247.12 at the end of the previous year[4] - Total assets decreased to ¥1,950,421,114.19 from ¥2,039,232,247.13, a decline of about 4.4%[22] - Total liabilities decreased to ¥1,789,409,778.25 from ¥1,884,006,692.89, a reduction of approximately 5%[22] - The company's cash and cash equivalents decreased to ¥163,989,536.72 from ¥185,396,131.24, a decline of approximately 11.5%[21] - The cash and cash equivalents at the end of the period amount to 124,250,113.09, down from 234,788,927.60 at the end of the previous period[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 64,213[10] - The largest shareholder, Shenzhen Investment Holdings Co., Ltd., holds 26.35% of shares, totaling 315,831,160 shares[10] - Jeffrey Zhao Huai Liu, an overseas individual shareholder, owns 16.29% of shares, amounting to 195,320,972 shares[10] - JHL Infinite LLC, an overseas corporate shareholder, holds 16.13% of shares, totaling 193,366,623 shares[10] Operational Highlights - Research and development expenses decreased by 30.17% to ¥13,383,857.56 from ¥19,167,295.49 in the same period last year[8] - The construction progress of the Xi'an Weibei Comprehensive Hospital project is approximately 51%[18] - The company is currently negotiating a framework agreement for a project that has been temporarily stalled due to management transfer procedures[19] Regulatory and Legal Issues - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[12] - The company has identified prior accounting errors and is making corrections to reflect its financial status accurately[13] - As of April 9, 2025, the company has a loan balance of RMB 85.8867 million from JHL and Jeffrey Zhao Huai Liu[15] - The company has frozen bank account funds totaling RMB 46,649,584.06 due to litigation and arbitration issues[17] Credit and Impairment - The company reported a significant increase in credit impairment losses, which rose by 898.54% to ¥56,518,067.74 from ¥5,660,052.32 in the previous year[8] - The company experienced a 57.42% decrease in taxes and surcharges, which amounted to ¥313,479.21 compared to ¥736,287.80 in the previous year[8] Cost Management - Total operating costs for the current period amount to ¥153,981,027.69, down from ¥311,164,742.14, reflecting a reduction of about 50.6%[25] - Accounts receivable decreased to ¥411,254,773.82 from ¥462,016,664.25, representing a reduction of about 11%[21] - Short-term borrowings increased significantly to ¥386,602,877.42 from ¥266,518,719.48, an increase of approximately 45%[22]

Financial Performance - The company expects a net loss of between 22 million and 28 million yuan for 2024, compared to a profit of 25.07 million yuan in the same period last year[2] - Revenue is projected to be between 315 million and 345 million yuan, an increase from 279.78 million yuan in the previous year[2] - The company anticipates a basic loss per share of between 0.2702 yuan and 0.3439 yuan, down from a profit of 0.31 yuan per share last year[2] - The decline in net profit is attributed to increased market competition leading to a decrease in gross margin[4] Expenses and Investments - The company has increased R&D investment significantly, particularly in new market areas, resulting in higher R&D expenses compared to the previous year[5] - Sales expenses have also risen due to enhanced marketing system construction and team building efforts[5] - Management expenses increased due to investments in new business and acquisitions of subsidiaries[5] Challenges and Risks - The company faced challenges in accounts receivable collection, leading to higher credit impairment losses compared to last year[5] - The financial data in the earnings forecast has not been audited, and final figures will be disclosed in the audited annual report[6] - Investors are advised to exercise caution and consider investment risks based on the preliminary nature of the earnings forecast[6]

Financial Performance - The company reported a significant increase in user data, with a focus on integrating AI and IoT technologies [20]. - The company's operating revenue for 2024 was ¥301,739,128.07, representing a 7.85% increase compared to ¥279,777,844.68 in 2023 [6]. - The net profit attributable to shareholders for 2024 was -¥51,195,661.24, a decrease of 304.23% from ¥25,067,399.41 in 2023 [6]. - The net cash flow from operating activities for 2024 was -¥55,692,245.22, a significant decline of 4,411.21% compared to -¥1,234,530.81 in 2023 [6]. - The total assets at the end of 2024 were ¥1,201,855,467.78, an increase of 2.92% from ¥1,167,749,579.40 at the end of 2023 [6]. - The net assets attributable to shareholders decreased by 9.83% to ¥732,590,514.29 at the end of 2024 from ¥812,431,197.56 at the end of 2023 [6]. - The company reported a basic earnings per share of -¥0.63 for 2024, down 303.23% from ¥0.31 in 2023 [6]. - The company achieved operating revenue of 30,173.91 million yuan, representing a year-on-year growth of 7.85%, but reported a net loss of 5,119.57 million yuan, a decline of 304.23% compared to the previous year [103]. - The company reported a net profit attributable to shareholders of -¥22,885,033.09 for Q4 2024, compared to a profit of ¥42,780,859.87 in Q4 2023 [113]. Business Expansion and Strategy - The company has expanded its business scope to include "security technology prevention system design and construction services; security equipment manufacturing; information system integration services; artificial intelligence application software development" among others [19]. - The company is focusing on integrating AI technologies to enhance its operational capabilities and market penetration in the smart security industry [33]. - The company plans to deepen its core industries, focusing on rail transit, finance, and healthcare, to enhance differentiated competitiveness [154]. - The company will explore new business areas such as smart parking and low-altitude safety, aiming to expand its operational service offerings [158]. - The company intends to leverage its public platform to seek strategic investments and acquisitions to enhance its core competitiveness and drive long-term growth [159]. Research and Development - The company maintains a strong focus on R&D, investing significantly in AIOT platform technology and intelligent recognition systems, positioning itself as a leader in key technology areas [72]. - Research and development expenses increased by 14.34% to ¥33,841,735.69 in 2024, compared to ¥29,596,490.24 in 2023 [125]. - The company’s R&D investment accounted for 11.22% of operating revenue in 2024, up from 10.58% in 2023 [127]. - The company has developed a specialized algorithm model library for security inspection, leveraging years of data accumulation and advanced machine learning techniques [74]. - The company is involved in multiple national key R&D projects, focusing on advanced security inspection technologies for urban rail transit and high-speed parcel processing [87]. Market Presence and Industry Trends - The smart security industry in China has surpassed ¥1 trillion in total output value, reflecting significant growth and technological advancement [32]. - The security service sector is experiencing rapid growth, with the value and scope of services continuously expanding, driven by increasing demand for maintenance and operational services post-project completion [34]. - The company’s integrated security solutions have been widely applied in various sectors, including urban rail transit, finance, healthcare, and hazardous materials management, showcasing a strong market presence [40]. - The company’s smart hospital security solution has been implemented in nearly 50 medical institutions across multiple provinces, receiving widespread acclaim and recognition in the industry [50]. - The company has established solid partnerships with key clients in the transportation, finance, and healthcare sectors, enhancing its market presence and customer loyalty [100]. Operational Efficiency and Cost Management - The company aims to reduce costs and improve efficiency, targeting a decrease in operating costs and an increase in profitability through refined management practices [156]. - The company has established a comprehensive management system certified by ISO across five major management areas, indicating a high level of systematic management [102]. - The company has established a three-tier operational service network to provide rapid response and support, enhancing service quality and operational efficiency [89]. - The company has a robust accounts receivable collection responsibility system, linking the recovery of receivables to the performance evaluation of various business departments [164]. - The company emphasizes source control of accounts receivable by implementing reasonable credit policies and conducting credit investigations on new clients [164]. Governance and Management - The company has conducted 2 shareholder meetings during the reporting period, reviewing 10 proposals, ensuring compliance with legal requirements [171]. - The company’s board of directors consists of 6 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements [173]. - The company has held 7 board meetings during the reporting period, reviewing 33 proposals, with all procedures adhering to legal standards [174]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, ensuring no conflicts of interest or unfair transactions [177]. - The company has established an independent financial department and a complete financial accounting system, allowing for independent financial decision-making [179]. Challenges and Risks - The company has faced risks of delisting due to negative financial indicators, including a net profit below -5.52 million CNY after non-recurring losses [161]. - The company is actively exploring new business and application scenarios, but may face risks related to market, technology, management, and collaboration, potentially delaying business development and impacting overall performance [165]. - The company recognizes the intensifying competition in the domestic security industry and is focused on innovation in product development and service quality to maintain its competitive edge [163]. Employee and Management Changes - The company has experienced changes in its senior management, including the appointment of a new general manager [183]. - The company aims to enhance employee motivation and cohesion through performance incentives and competitive equity plans [157]. - The total pre-tax remuneration for the board of directors, supervisors, and senior management during the reporting period amounted to 3.8692 million yuan [196].