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].

Financial Performance - The company's operating revenue for Q1 2025 was ¥696,129,289.89, a decrease of 15.15% compared to ¥820,463,804.25 in the same period last year[5] - The net profit attributable to shareholders was ¥16,854,197.17, down 63.80% from ¥46,558,126.67 year-on-year[8] - The basic and diluted earnings per share decreased to ¥0.0143, down 63.71% from ¥0.0394 in the same period last year[5] - Net profit for the period was ¥12,968,456.95, down from ¥42,791,762.74, indicating a decline of approximately 69.7% year-over-year[26] - The net profit attributable to the parent company was ¥16,854,197.17, compared to ¥46,558,126.67 in the previous period, a decrease of about 63.8%[26] - The company reported a total comprehensive income of ¥12,981,544.12, down from ¥42,791,887.52, indicating a decrease of approximately 69.7% year-over-year[26] Cash Flow - The net cash flow from operating activities improved significantly to ¥56,562,287.60, compared to a negative cash flow of ¥331,854,369.39 in the previous year, marking a 117.04% increase[5] - Cash flow from operating activities increased to ¥215,443,701.61 from ¥201,479,198.75, showing a growth of about 6.5% year-over-year[27] - The net cash flow from operating activities was $56,562,287.60, a significant improvement compared to a negative cash flow of -$331,854,369.39 in the previous period[28] - Total cash outflow for operating activities was $226,186,272.08, down from $606,769,129.91 in the previous period[28] - The company received $5,320,000.00 from investment activities, reflecting a positive trend in capital inflow[28] - The company received government subsidies amounting to ¥702,484.77 during the reporting period[6] Assets and Liabilities - Total assets increased by 1.70% to ¥9,793,252,446.68 from ¥9,629,197,683.24 at the end of the previous year[5] - Total current assets amount to 4,468,714,348.31 CNY, an increase from 4,289,614,941.27 CNY at the beginning of the period[21] - Total liabilities increased to ¥9,486,208,139.14 from ¥9,285,745,208.44, an increase of approximately 2.2%[22] - Total equity attributable to shareholders decreased to ¥162,584,884.30 from ¥200,427,311.34, a decline of about 18.9%[22] - Non-current liabilities increased to ¥3,884,092,233.65 from ¥3,796,845,295.96, reflecting an increase of approximately 2.3%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 65,626[16] - The largest shareholder, Li Renchao, holds 13.07% of shares, amounting to 154,275,680 shares, with 107,000,000 shares pledged[16] Operational Metrics - The company's R&D expenses rose by 33.00% to ¥10,997,427.68 from ¥8,268,858.94 year-on-year[11] - The investment income dropped significantly by 92.76% to ¥4,010,179.46 from ¥55,405,629.44 in the previous year, primarily due to reduced profits from invested companies[11] - The accounts receivable increased by 59.08% to ¥14,715,867.36 due to increased transactions settled via commercial acceptance bills[9] - Accounts receivable increased to 654,722,021.55 CNY from 524,937,899.34 CNY, reflecting a growth of approximately 24.6%[21] - Inventory has risen to 601,055,411.53 CNY, up from 476,833,125.50 CNY, indicating a growth of about 26.1%[21] - Accounts payable rose to 2,841,904,901.32 CNY from 2,701,623,384.69 CNY, showing an increase of approximately 5.2%[21] Contracts and Projects - The company has signed significant contracts, including a project in Laos, with some progress payments received[18] Cost Management - Total operating costs decreased to ¥665,359,735.52 from ¥793,116,944.83, a reduction of about 16.1% year-over-year[25] - The company reported a significant decrease in tax expenses, with a 96.40% reduction in taxes paid compared to the previous year[14]

Financial Performance - The company's revenue for Q1 2025 was ¥19,333,214.23, a decrease of 1.35% compared to ¥19,596,876.55 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥14,081,720.11, representing a decline of 32.85% from a loss of ¥10,599,836.79 in the previous year[4] - The company reported a net loss of ¥14,214,976.87, compared to a net loss of ¥10,774,522.03 in the previous period, indicating an increase in losses of approximately 32%[18] - Operating profit was reported at -¥14,206,619.17, worsening from -¥10,355,362.89 in the prior period, reflecting a decline of about 37%[18] - The company recorded a total comprehensive loss of ¥14,214,976.87, compared to a total comprehensive loss of ¥10,774,522.03 in the previous period, reflecting a significant increase in overall losses[19] - The company's total profit before tax was reported at -¥14,192,878.70, worsening from -¥10,332,523.41 in the previous period, reflecting a decline of approximately 37%[18] - Basic and diluted earnings per share were both reported at -¥0.1730, compared to -¥0.1367 in the previous period, indicating a worsening performance per share[19] Cash Flow and Investments - The net cash flow from operating activities was a negative ¥21,040,897.41, which is a 19.52% increase in cash outflow compared to the previous year's outflow of ¥17,604,868.32[4] - The company experienced a net cash outflow from operating activities of -¥21,040,897.41, compared to -¥17,604,868.32 in the previous period, indicating a worsening cash flow situation[22] - Investment activities resulted in a net cash outflow of -¥43,409,178.00, significantly higher than -¥1,377,720.05 in the prior period, showing increased investment expenditures[23] - The company’s cash and cash equivalents decreased to ¥177,867,982.47 from ¥343,890,788.71, a decline of approximately 48.3%[23] - The company received cash from the recovery of investments amounting to ¥600,000.00, down from ¥11,500,000.00 in the previous period, indicating a decrease in investment recoveries[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,143,361,989.86, down 4.87% from ¥1,201,855,467.78 at the end of the previous year[4] - Total liabilities decreased to ¥437,974,280.58 from ¥469,915,460.46, a reduction of about 6.8%[14] - The company's equity attributable to shareholders decreased to ¥706,171,473.01 from ¥732,590,514.29, a decline of approximately 3.6%[15] - Accounts receivable decreased to ¥312,907,828.00 from ¥349,750,536.80, a reduction of about 10.5%[11] - The company's cash and cash equivalents decreased by 31.83% to ¥181,137,419.21 due to payments for investment projects and share repurchases[6] Research and Development - Research and development expenses for the quarter were ¥7,909,757.75, a slight increase of 3.05% compared to ¥7,675,362.43 in the previous year[6] - Research and development expenses were ¥7,909,757.75, slightly up from ¥7,675,362.43, indicating continued investment in innovation[17] Operational Metrics - Total operating revenue for the current period was ¥19,333,214.23, a decrease of 1.34% from ¥19,596,876.55 in the previous period[17] - Total operating costs increased to ¥36,561,472.92, up from ¥35,550,125.05, reflecting a rise in sales and management expenses[17] - The company reported a significant increase of 458.89% in trading financial assets, reaching ¥29,753,598.02, attributed to the purchase of bank wealth management products[6] - The company experienced a 3050.80% increase in cash outflow from investing activities, totaling ¥43,409,178.00, due to payments for project progress and wealth management purchases[6] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[16] - The total number of ordinary shareholders at the end of the reporting period was 11,229[8]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 2,637,957,471.92, representing a 41.83% increase compared to CNY 1,859,952,289.55 in the same period last year[3]. - Net profit attributable to shareholders was CNY 270,361,200.59, up 28.79% from CNY 209,917,928.44 year-on-year[3]. - The company reported a 38.61% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, driven by business growth[7]. - Total operating revenue for Q1 2025 reached ¥2,637,957,471.92, a 41.7% increase from ¥1,859,952,289.55 in Q1 2024[26]. - Net profit for Q1 2025 was ¥268,393,419.25, representing a 27.5% increase compared to ¥210,341,897.40 in Q1 2024[27]. - Basic and diluted earnings per share for Q1 2025 were both ¥0.45, up from ¥0.35 in Q1 2024[27]. - The company reported a total comprehensive income of ¥275,708,879.73 for Q1 2025, compared to ¥233,247,209.06 in Q1 2024[27]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 42,295,096.20, a 233.35% increase from a negative CNY 31,716,538.59 in the previous year[3]. - Cash flow from operating activities for Q1 2025 was ¥42,295,096.20, a recovery from a negative cash flow of ¥31,716,538.59 in Q1 2024[30]. - Cash and cash equivalents at the end of Q1 2025 totaled ¥1,935,590,947.34, down from ¥2,062,730,275.08 at the end of Q1 2024[31]. - The total current assets as of March 31, 2025, amounted to RMB 9,174,336,162.08, slightly down from RMB 9,255,312,766.25 at the end of 2024[21]. - The company's total assets were RMB 12,738,906,363.06 as of March 31, 2025, compared to RMB 12,786,035,768.51 at the end of 2024[23]. - The total liabilities decreased to RMB 5,533,973,798.34 from RMB 5,845,772,549.43 in the previous period[23]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,253[10]. - The company's equity attributable to shareholders rose to CNY 6,822,558,541.55, reflecting a 4.07% increase from CNY 6,555,921,414.57[4]. - The company's equity attributable to shareholders increased to RMB 6,822,558,541.55 from RMB 6,555,921,414.57[23]. Business Operations - The company's main business revenue for Q1 2025 reached RMB 259,463.18 million, representing a year-on-year growth of 42.78%[12]. - The sales volume of smart electric control products was 1,461,909 units, up 58.43% year-on-year; disc brake sales reached 932,716 units, an increase of 36.14%[12]. - The total number of projects under research increased to 498, a growth of 6.41% compared to the same period last year; new mass production projects totaled 57, up 11.76%[13]. - The number of new designated projects rose to 120, reflecting a year-on-year increase of 13.21%[13]. - The number of projects in the electronic control product category reached 191, with 99 projects focused on new energy vehicles[16]. - The company is actively expanding its domestic and international market presence while optimizing its customer structure[13]. Costs and Expenses - Total operating costs for Q1 2025 were ¥2,369,495,116.60, up 43.9% from ¥1,646,429,151.29 in Q1 2024[26]. - Research and development expenses for Q1 2025 were ¥128,576,221.11, an increase from ¥110,913,997.79 in Q1 2024[26]. Financing Activities - The company experienced a net increase in cash flow from financing activities of ¥52,501,961.91 in Q1 2025, compared to ¥46,481,514.60 in Q1 2024[31]. - The company recorded a net investment cash outflow of ¥163,404,949.42 in Q1 2025, compared to a net outflow of ¥122,183,379.06 in Q1 2024[31]. Borrowings and Financial Assets - Short-term borrowings surged by 348.60%, primarily due to an increase in short-term loans taken[7]. - The company experienced a 66.74% increase in trading financial assets due to increased purchases of financial products during the period[7].

Financial Performance - The company's operating revenue for 2024 reached ¥2,724,860,243.65, representing a 21.90% increase compared to ¥2,235,396,716.50 in 2023[22]. - Net profit attributable to shareholders was ¥344,134,746.51, up 23.50% from ¥278,649,657.53 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥323,900,946.16, reflecting a 27.76% increase from ¥253,522,602.81 in 2023[22]. - The company's total assets increased by 16.46% to ¥6,859,807,618.48 at the end of 2024, compared to ¥5,890,214,620.87 at the end of 2023[22]. - Basic earnings per share rose to ¥0.41, a 24.24% increase from ¥0.33 in 2023[22]. - The weighted average return on equity increased to 9.97%, up 0.90 percentage points from 9.07% in 2023[22]. - The cash flow from operating activities showed a significant increase to ¥155,498,609.69, compared to ¥11,610,986.84 in 2023, marking a 1,239.24% increase[22]. - The company achieved a revenue of 272,486.02 million RMB in 2024, representing a year-on-year increase of 21.90%[125]. - The net profit attributable to shareholders was 34,413.47 million RMB, up 23.50% year-on-year, while the net profit excluding non-recurring items increased by 27.76% to 32,390.09 million RMB[125]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to shareholders, totaling approximately 41.55 million RMB (including tax) based on a total share capital of 831,088,292 shares as of March 31, 2025[6]. - The company has a total share capital of 831,088,292 shares as of the dividend distribution date[6]. - The company has no plans for significant asset restructuring or share repurchase that would affect the total share capital before the dividend distribution[6]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The company is committed to maintaining the accuracy and completeness of its financial disclosures, as stated by its management[5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has no violations of decision-making procedures for providing guarantees[8]. - There are no significant risks that could materially affect the company's operations during the reporting period[9]. Market and Industry Trends - The domestic market for hydraulic breakers is expected to grow due to increased urbanization and infrastructure development, with a current excavator market of approximately 2.5 million units[31]. - The Chinese construction machinery industry generated operating revenue of 810.1 billion yuan in 2023, reflecting a stable market demand recovery[34]. - The domestic excavator sales in 2024 are projected to reach 100,543 units, representing a year-on-year growth of 11.7%[38]. - The global hydraulic components market size has surpassed $100 billion, with Asia accounting for approximately 41% of the market share[41]. - The Chinese hydraulic components market is projected to reach approximately 106.7 billion yuan in 2024, reflecting a year-on-year growth of over 5.3%[42]. - The demand for hydraulic components in the new energy sector is anticipated to triple by 2030, driven by the growth of wind and solar power installations, which are projected to reach 521 million kW and 887 million kW, respectively, in 2024[46]. Research and Development - The company's R&D investment intensity reached 5.02%, indicating a strong commitment to technological innovation and product development[34]. - The company has established a strong R&D team over more than a decade, achieving advanced production technology and product performance recognized by domestic and international clients[179]. - The company emphasizes independent research and technological innovation as key to enhancing competitiveness, with plans to increase R&D investment and expand product series to meet customer needs[171]. - The company plans to enhance its R&D capabilities by upgrading existing products to improve efficiency and environmental performance, while also strengthening its R&D department[174]. Strategic Initiatives - The company aims to enhance its product offerings with innovations such as adjustable hydraulic breakers and low-noise models to meet growing market demands[31]. - The company plans to enhance its product differentiation strategy, focusing on the development of heavy-duty hydraulic breakers and a full range of hydraulic components[34]. - The company is expanding its market presence by strengthening partnerships with major construction machinery manufacturers and enhancing its sales network[35]. - The company intends to deepen cooperation with domestic excavator manufacturers and expand its international market presence by segmenting global markets and establishing regional responsibilities[177]. - The company aims to launch multiple new products annually while enhancing its after-sales service system to strengthen market influence and expand into surrounding markets[177]. Human Resources - The company has a total of 3,149 employees, with 1,485 in the parent company and 1,664 in major subsidiaries[199]. - The number of R&D personnel is 427, making up 14.25% of the total workforce, with a majority aged between 30 and 40 years[136]. - The educational background of employees shows 57 with postgraduate degrees, 507 with bachelor's degrees, 834 with associate degrees, and 1,751 with other qualifications[200]. - The company plans to implement a talent development plan to build a skilled workforce, focusing on internal training and external talent acquisition to support innovation and growth[175]. Governance and Shareholder Relations - The company has a comprehensive governance structure in place, including a board of directors, supervisory board, and management team, ensuring compliance with regulations and protection of minority shareholders' rights[181]. - The company has held multiple shareholder meetings in 2024, with all resolutions passed, indicating strong shareholder support[182]. - The chairman and general manager holds 158,083,941 shares, with no changes in shareholding during the reporting period, reflecting stability in leadership[183]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 8.1268 million yuan[186]. Challenges and Risks - The company acknowledges the risk of macroeconomic fluctuations affecting product demand, as its performance is closely tied to fixed asset investment levels[178]. - The hydraulic industry is sensitive to macroeconomic conditions, with potential demand declines during economic slowdowns affecting construction and infrastructure investments[169]. - The hydraulic components industry faces significant competition from foreign companies dominating the high-end market, which poses challenges for domestic firms[61]. - Domestic companies are experiencing intense competition in the mid-to-low-end market, leading to potential profit margin pressures due to price competition[61].