Financial Performance - The company's operating revenue for 2024 reached CNY 4,708.99 million, an increase of 14.77% compared to the previous year, primarily driven by increased seed exports and domestic corn seed revenue [4]. - The seed industry revenue amounted to CNY 3,063.33 million, reflecting a growth of 6.52% year-on-year [4]. - Net profit attributable to shareholders was CNY 114.41 million, a decrease of 58.23% from the previous year, mainly due to increased competition and higher research and management expenses [4]. - The company's operating revenue for 2024 reached ¥4,708,992,457.10, representing a 14.77% increase compared to ¥4,102,895,157.95 in 2023 [18]. - Net profit attributable to shareholders decreased by 58.23% to ¥114,405,261.09 in 2024 from ¥273,862,389.94 in 2023 [18]. - Cash flow from operating activities dropped significantly by 76.99% to ¥65,396,069.32 in 2024 from ¥284,164,131.37 in 2023 [18]. - Basic earnings per share decreased by 58.62% to ¥0.12 in 2024 from ¥0.29 in 2023 [18]. - Total assets increased by 14.05% to ¥7,652,407,216.86 at the end of 2024 from ¥6,709,796,938.68 at the end of 2023 [18]. - The company reported a significant decline in quarterly net profit, with Q4 2024 showing a profit of ¥198,738,665.73 after losses in Q2 and Q3 [20]. - The company recorded a net cash outflow from operating activities of ¥633,233,782.96 in Q1 2024, followed by positive cash flows in subsequent quarters [21]. Research and Development - In 2024, the company achieved a research and development investment of 170.83 million yuan, accounting for 5.65% of seed sales revenue [34]. - The company has established multiple key research and development platforms, including a national-level hybrid rice variety creation laboratory and a national enterprise technology center [34]. - The company’s breeding cycle for new varieties typically takes 8-10 years, which can be shortened to 3-4 years using molecular breeding technology [35]. - The company has secured 36 invention patents and 361 plant variety rights, showcasing its strong research and innovation capabilities [46]. - The company has increased its R&D investment, with the proportion of R&D expenses to seed sales revenue rising from 4.9% to 5.65% [133]. - A total of 59 new rice varieties and 16 hybrid corn varieties developed by the company or in collaboration have been approved by national standards, enhancing its competitive edge [133]. Market Strategy and Expansion - The company plans to enhance market competitiveness through increased R&D innovation, brand and service improvement, and internal management optimization [6]. - Future plans include strengthening the integration of the industry chain to improve sales and net profit [6]. - The company is positioned to benefit from supportive government policies aimed at revitalizing the seed industry, which may enhance its competitive edge in the market [28]. - The company aims to create a rapid breeding technology platform for super high-yield hybrid rice, with the goal of producing superior new germplasm [72]. - The company is expanding its overseas business, focusing on markets in Southeast Asia, South Asia, and Africa, while also establishing overseas R&D bases [123]. - The company aims to strengthen its market presence in core businesses like rice, corn, and wheat, targeting to rank among the top three in corn seed sales by the end of the 14th Five-Year Plan [122]. Risk Management - The company faces risks including intensified market competition, new variety development and promotion risks, and changes in industrial policies [6]. - The overall gross margin of the seed business has declined due to increased competition and a higher number of approved varieties in the domestic market [4]. - The company acknowledges the risks associated with new variety development and aims to align its R&D with market demands to ensure successful commercialization [125]. - The company is enhancing its seed production management to mitigate risks from climate change and natural disasters affecting seed quality and yield [126]. - The company has implemented a risk-sharing mechanism with seed producers and farmers to mitigate losses caused by adverse weather conditions [38]. Corporate Governance - The company’s board of directors consists of 8 members, including 4 independent directors, ensuring compliance with governance regulations [140]. - The company maintains independence from its controlling shareholder, with no interference in decision-making or operational activities [139]. - The company has established a sound internal management structure to independently exercise management authority, ensuring separation from the controlling shareholder's operations [151]. - The company has committed to transparency in its financial dealings and governance, as evidenced by the detailed disclosures in its shareholder meetings [154]. - The company reported a total of 45,594 shares held by the chairman, with no changes during the period [156]. Employee Management - The company has implemented a series of employee incentive mechanisms, including stock ownership plans, to enhance employee motivation and align their interests with the company's goals [51]. - The company has a total of 1,829 employees at the end of the reporting period, with 933 in sales, 306 in technical roles, and 304 in production [186]. - The company emphasizes a broad salary structure that aligns compensation with job value and includes comprehensive benefits to attract and retain talent [188]. - The company has implemented training programs focusing on agricultural technology, office skills, legal knowledge, and professional development [189]. Dividend and Profit Distribution - The profit distribution plan proposes a cash dividend of CNY 0.5 per 10 shares (tax included) based on a total share capital of 947,331,751 shares as of December 31, 2024 [6]. - A cash dividend of RMB 0.5 per 10 shares (totaling RMB 47,366,587.55) is proposed for distribution to shareholders based on a total share capital of 947,331,751 shares [195]. - The company plans to retain the remaining undistributed profits for the next fiscal year and will not issue bonus shares [195].

Financial Performance - The company's revenue for Q1 2025 was ¥315,110,184.08, a decrease of 26.58% compared to ¥429,172,675.52 in the same period last year[5] - Net profit attributable to shareholders was ¥15,201,816.26, down 47.29% from ¥28,838,483.33 year-on-year[5] - The basic earnings per share decreased by 46.57% to ¥0.0249 from ¥0.0466 in the same period last year[5] - Total operating revenue decreased to ¥315,110,184.08 from ¥429,172,675.52, representing a decline of approximately 26.6% year-over-year[19] - Net profit for the period was ¥11,227,654.31, down from ¥24,958,440.91, indicating a decline of approximately 55.1% year-over-year[19] - Total comprehensive income attributable to the parent company's owners was CNY 16,503,593.60, a decrease from CNY 28,166,335.28 in the previous period, representing a decline of approximately 41.6%[21] - Basic and diluted earnings per share were both CNY 0.0249, down from CNY 0.0466, indicating a decrease of about 46.5%[21] Cash Flow - The net cash flow from operating activities was -¥17,285,740.15, a decline of 117.05% compared to ¥101,357,363.89 in the previous year[5] - The company reported a decrease in sales expenses to ¥41,035,894.57 from ¥68,543,940.69, reflecting a cost-cutting strategy[19] - Net cash flow from operating activities was negative CNY 17,285,740.15, compared to positive CNY 101,357,363.89 in the previous period, reflecting a significant decline[22] - Cash inflow from investment activities totaled CNY 2,872,578.72, an increase from CNY 1,967,181.53 year-over-year[22] - Cash outflow from investment activities was CNY 25,332,665.92, down from CNY 166,170,288.90, indicating a reduction of approximately 84.8%[22] - Net cash flow from financing activities was negative CNY 59,487,257.84, compared to positive CNY 27,980,960.68 in the previous period, showing a reversal in cash flow[22] - The ending balance of cash and cash equivalents was CNY 44,302,664.88, down from CNY 183,656,176.46, a decrease of about 76.1%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,271,069,770.54, a decrease of 1.30% from ¥4,327,397,080.53 at the end of the previous year[5] - Total liabilities decreased to ¥1,501,478,651.87 from ¥1,570,954,359.63, showing a reduction of about 4.4%[18] - Non-current liabilities totaled ¥332,227,294.64, an increase from ¥254,681,402.98, representing a growth of approximately 30.4%[18] - As of the end of the reporting period, the company's total current assets amounted to approximately CNY 1.75 billion, a decrease from CNY 1.80 billion at the beginning of the period[16] Government Support and Subsidies - The company received government subsidies amounting to ¥27,691,508.52, which positively impacted the financial results[6] Research and Development - Research and development expenses were ¥12,774,780.81, slightly down from ¥13,058,050.61, indicating a continued commitment to innovation despite revenue challenges[19] - Wanbangde Pharmaceutical received approval from the National Medical Products Administration for the supplement application of Cefaclor granules, which is considered to have passed the consistency evaluation of generic drug quality and efficacy, enhancing market competitiveness[11] - The company obtained FDA approval for clinical trials of WP107 (Huperzine A oral solution) for treating generalized myasthenia gravis and WP103 (Huperzine A injection) for treating neonatal hypoxic-ischemic encephalopathy, marking a significant step in new drug development[12] - The FDA granted orphan drug designation for Mecobalamin for the treatment of Amyotrophic Lateral Sclerosis (ALS), providing various incentives for drug development and commercialization in the U.S. market[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,646, with the largest shareholder holding 31.37% of the shares[9] - The company completed the repurchase of 5 million shares in March 2022, which were subsequently canceled due to the inability to complete the employee stock ownership plan within the effective period[15]

Financial Performance - The company's operating revenue for Q1 2025 was ¥185,003,691.08, a decrease of 59.88% compared to ¥461,142,866.49 in the same period last year[4]. - Total operating revenue for the current period is $185.00 million, a decrease of 60.0% compared to $461.14 million in the previous period[34]. - Net profit for the current period is a loss of $84.81 million, compared to a loss of $87.01 million in the previous period, showing a slight improvement[35]. - Total comprehensive income for the current period is a loss of $84.81 million, compared to a loss of $87.01 million in the previous period[35]. - The net loss attributable to shareholders was ¥79,033,132.09, an improvement of 10.17% from a loss of ¥87,978,120.27 in the previous year[4]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 80.84%, reaching -¥43,454,651.37 compared to -¥226,842,479.55 in the same period last year[4]. - Operating cash flow for the current period is a net outflow of $43.45 million, compared to a net outflow of $226.84 million in the previous period, indicating improved cash flow management[36]. - Cash and cash equivalents at the end of the period are $123.19 million, down from $201.99 million at the end of the previous period[37]. - The company's cash and cash equivalents decreased to CNY 197,399,724.32 from CNY 236,892,033.01, reflecting a reduction of about 16.7%[30]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,989,978,321.60, a decrease of 1.98% from ¥6,111,256,769.69 at the end of the previous year[4]. - Current assets totaled CNY 4,475,672,938.32, down from CNY 4,582,547,569.58, indicating a decline of approximately 2.3%[30]. - Total liabilities were CNY 5,012,332,501.48, a slight decrease from CNY 5,079,353,723.68, indicating a reduction of about 1.3%[31]. - The company's equity attributable to shareholders decreased to CNY 1,046,350,361.16 from CNY 1,094,830,790.13, a decline of approximately 4.4%[32]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,841[25]. - The company's basic and diluted earnings per share were both -¥0.11, an improvement of 8.33% from -¥0.12 in the same period last year[4]. - Basic and diluted earnings per share for the current period are both -$0.11, compared to -$0.12 in the previous period[36]. Research and Development - Research and development expenses decreased by 90.42%, reflecting reduced investment in R&D projects[13]. - Research and development expenses decreased to $1.10 million from $11.48 million, reflecting a 90.4% reduction[34]. Other Income and Expenses - The company reported a 244.47% increase in non-operating income, primarily due to an increase in litigation compensation received[20]. - Financial expenses increased by 41.53%, primarily due to an increase in loan penalty provisions[14]. - The company reported a credit impairment loss of $4.80 million, a significant change from a gain of $4.63 million in the previous period[35]. Inventory and Contract Liabilities - The company experienced a 44.67% increase in contract liabilities, mainly due to pre-received project payments[9]. - The company’s contract liabilities increased to CNY 94,949,398.02 from CNY 65,633,948.58, reflecting an increase of approximately 44.5%[31]. - The company’s inventory increased to CNY 570,505,244.09 from CNY 524,028,316.24, showing a growth of about 8.8%[30]. Regulatory and Restructuring Actions - The company reported a fine of CNY 8.5 million due to false disclosures in annual reports from 2017 to 2021[28]. - The company signed a restructuring agreement with Shanghai Hengcen Enterprise Management Consulting Co., Ltd. and Shanghai Kangheng Environmental Co., Ltd. as the selected investors for its restructuring process[28].

Financial Performance - The company's revenue for Q1 2025 was ¥835,321,277.94, representing a 24.13% increase compared to ¥672,962,046.88 in the same period last year[4] - The net profit attributable to shareholders decreased by 87.62% to ¥2,196,667.64 from ¥17,744,469.19 year-on-year[4] - The company achieved operating revenue of CNY 835.32 million, an increase of 24.13% compared to the same period last year[17] - The net profit attributable to shareholders decreased by 87.62% to CNY 2.19 million, impacted by increased competition and rising management expenses[17] - The net profit for the current period was a loss of ¥16,847,296.05, compared to a profit of ¥16,766,262.77 in the previous period, indicating a shift in profitability[22] - The total comprehensive income attributable to the parent company was CNY 1,902,512.68, down from CNY 14,411,663.28 year-over-year[23] Cash Flow - The net cash flow from operating activities was -¥776,835,154.94, a decline of 22.68% compared to -¥633,233,782.96 in the previous year[4] - The cash inflow from operating activities increased by 17.92% to ¥798,756,372.58, driven by higher cash receipts from sales[11] - The cash outflow from operating activities rose by 20.22% to ¥1,575,591,527.52, primarily due to increased payments for seeds[11] - Operating cash flow generated a net outflow of CNY -776,835,154.94, compared to CNY -633,233,782.96 in the previous period[25] - Cash inflow from operating activities totaled CNY 798,756,372.58, an increase from CNY 677,385,806.11 year-over-year[24] - Cash outflow from operating activities was CNY 1,575,591,527.52, up from CNY 1,310,619,589.07 in the previous period[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,037,242,335.60, down 8.04% from ¥7,652,407,216.86 at the end of the previous year[4] - Current assets decreased to ¥5,300,793,007.73 from ¥5,913,823,531.24, a decline of approximately 10.3%[20] - Total liabilities decreased to ¥4,429,353,093.63 from ¥5,030,356,423.14, representing a reduction of about 11.9%[21] - Cash and cash equivalents dropped to ¥972,369,719.79 from ¥1,600,073,995.25, a decrease of approximately 39.1%[20] - Accounts receivable increased to ¥737,068,001.49 from ¥552,806,527.11, reflecting a growth of about 33.4%[20] - Inventory decreased to ¥2,790,168,125.20 from ¥2,988,861,416.06, a decline of approximately 6.6%[20] - Long-term borrowings rose to ¥300,231,000.00 from ¥138,974,000.00, an increase of about 116.5%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period was 49,422[13] - The largest shareholder, China Seed Group Co., Ltd., holds 20.51% of the shares, totaling 194,294,026 shares[13] - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Jia Guilan, owning 6.92%[13] - The company has a total of 10 major unrestricted shareholders, with significant holdings in common shares[14] - The number of restricted shares at the end of the period was 51,434,182, with some shares set to be released from lock-up in the future[16] Operational Challenges - The company reported a significant increase in operating costs, which rose by 33.82% to ¥722,729,826.32 due to increased orders and export business[9] - The company is facing challenges in its seed business due to increased homogenization and competition, leading to a decline in overall gross margin[17] - The company has seen an increase in seed exports and grain order business, contributing to revenue growth despite profit decline[17] Board and Governance - The company plans to delay the re-election of the board of directors and supervisory board to ensure continuity and stability[18]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 323,825,679.43, representing a year-on-year increase of 13.28% compared to CNY 285,856,920.93 in the same period last year[4]. - Net profit attributable to shareholders decreased by 34.48% to CNY 12,410,454.38 from CNY 18,942,786.54 in the previous year[4]. - The basic and diluted earnings per share fell by 36.84% to CNY 0.12 from CNY 0.19 year-on-year[4]. - Net profit for Q1 2025 was ¥13,408,194.59, a decrease of 29.1% from ¥18,942,786.54 in Q1 2024[18]. - Basic earnings per share for Q1 2025 were ¥0.12, down from ¥0.19 in Q1 2024[19]. Cash Flow - The net cash flow from operating activities decreased by 24.11% to CNY 36,431,760.31, down from CNY 48,005,388.05 in the same period last year[4]. - Cash inflow from operating activities totaled ¥369,597,366.82 in Q1 2025, compared to ¥318,152,401.34 in Q1 2024, marking an increase of 16.1%[21]. - The net cash flow from operating activities was $36,431,760.31, a decrease of 24% compared to $48,005,388.05 in the previous period[22]. - Cash outflow from investing activities totaled $8,930,252.51, significantly lower than $123,597,066.40 in the prior period, indicating a reduction in capital expenditures[22]. - The ending balance of cash and cash equivalents increased to $100,153,573.23, compared to $53,476,670.17 at the end of the previous period, reflecting a growth of 87%[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,168,704,110.46, a 1.19% increase from CNY 2,143,200,598.80 at the end of the previous year[5]. - The company's current assets reached CNY 631.45 million, up from CNY 598.96 million, indicating an increase of approximately 5.4%[13]. - Total liabilities as of the end of the reporting period were ¥1,091,858,442.14, slightly up from ¥1,079,291,600.20 in the previous period[15]. - The company's total liabilities increased to CNY 631.45 million, up from CNY 598.96 million, indicating a growth of about 5.4%[12]. Investment and Equity - The decrease in net profit was primarily due to increased investment losses related to long-term equity investments in WeiMeiZi[7]. - The equity attributable to shareholders increased by 1.20% to CNY 1,006,886,428.59 from CNY 994,947,499.08 at the end of the previous year[5]. - Total equity attributable to shareholders reached ¥1,006,886,428.59, an increase from ¥994,947,499.08 year-over-year[15]. - The company reported a decrease in investment income, with a loss of ¥6,383,206.17 in Q1 2025 compared to a loss of ¥2,670,034.45 in Q1 2024[18]. Research and Development - Research and development expenses increased to ¥12,064,343.21 in Q1 2025, compared to ¥7,654,021.47 in Q1 2024, reflecting a growth of 57.5%[17]. Other Financial Metrics - The weighted average return on equity decreased by 0.28 percentage points to 1.24% from 1.52%[5]. - Non-recurring gains and losses amounted to CNY 947,295.37, with significant contributions from government subsidies and other non-operating income[6]. - Deferred income tax liabilities increased to ¥47,598,651.97 in Q1 2025 from ¥32,826,626.46 in Q1 2024, indicating a rise of 44.9%[15]. - The company reported a significant increase in deferred tax assets, rising to CNY 22.01 million from CNY 7.51 million, reflecting a growth of approximately 194.7%[13].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 607.69 million, a decrease of 18.68% compared to CNY 747.27 million in the same period last year[4] - The net profit attributable to shareholders was CNY 32.76 million, down 5.43% from CNY 34.64 million year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 23.84 million, a decline of 25.17% from CNY 31.85 million in the previous year[4] - The basic and diluted earnings per share were both CNY 0.0872, down 5.43% from CNY 0.0922 year-on-year[4] - Operating profit for Q1 2025 was CNY 53,204,225.88, a decline of 15.4% from CNY 62,846,007.65 in Q1 2024[18] - Net profit for Q1 2025 after tax was CNY 41,722,758.55, compared to CNY 48,343,509.47 in Q1 2024, reflecting a decrease of 13.7%[18] - The net profit for the first quarter of 2025 is approximately ¥41.72 million, a decrease of 13.4% compared to ¥48.34 million in the same period of 2024[19] - The net profit attributable to the parent company's shareholders is ¥32.76 million, down from ¥34.64 million, reflecting a decline of 5.1% year-over-year[19] - The total comprehensive income for the first quarter is ¥40.70 million, compared to ¥45.30 million in the previous year, indicating a decrease of 10.5%[19] - The basic and diluted earnings per share for the first quarter are both ¥0.0872, down from ¥0.0922 in the first quarter of 2024, representing a decline of 5.4%[19] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 14.11 million, a significant decrease of 111.89% compared to CNY 118.75 million in the same period last year[4] - Cash flow from operating activities shows a net outflow of approximately ¥14.11 million, a significant drop from a net inflow of ¥118.75 million in the same quarter last year[23] - Cash inflow from investment activities is approximately ¥1.40 billion, compared to ¥653.69 million in the previous year, marking a substantial increase[24] - The net cash flow from investment activities is ¥139.66 million, a turnaround from a net outflow of ¥118.29 million in the first quarter of 2024[24] - The cash and cash equivalents at the end of the period stand at approximately ¥334.66 million, down from ¥412.92 million at the end of the first quarter of 2024[24] - The decline in cash flow from operating activities was primarily due to the disposal of a controlling subsidiary and a decrease in cash received from sales and services[6] - The company reported a decrease in cash inflow from sales of goods and services, totaling ¥688.23 million, down 17.5% from ¥834.16 million in the previous year[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3.69 billion, an increase of 1.20% from CNY 3.65 billion at the end of the previous year[5] - Total assets as of March 31, 2025, amounted to CNY 3,690,749,265.36, a slight increase from CNY 3,646,890,333.32 at the end of 2024[15] - Total liabilities were CNY 248,456,806.31 as of March 31, 2025, compared to CNY 246,173,909.18 at the end of 2024, indicating a marginal increase of 0.9%[15] - The company's equity attributable to shareholders increased to CNY 3,294,545,697.34 as of March 31, 2025, from CNY 3,261,815,914.99 at the end of 2024, reflecting a growth of 1.0%[15] Shareholder Information - Shareholder Wei Zhonghao holds 30.53% of the shares, amounting to 117,014,266 shares[9] - The company repurchased 7,600,000 shares, accounting for 1.9831% of the total share capital[10] Research and Development - Research and development expenses for Q1 2025 were CNY 8,614,052.18, down 13.9% from CNY 10,016,534.27 in Q1 2024[18] Fair Value and Market Activity - The company reported a fair value gain of CNY 8,212,885.93 in Q1 2025, compared to a loss of CNY 899,765.15 in Q1 2024, indicating a significant turnaround[18] - The company has not reported any new product launches or significant market expansion strategies during this quarter[25]

石家庄科林电气股份有限公司2025 年第一季度报告 证券代码：603050 证券简称：科林电气 石家庄科林电气股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同 | | --- | --- | --- | --- | | | | | 期增减变动幅度 | | | | | (%) | | 营业收入 | 911,806,138.20 | 752,199,793.92 | 21.22% | | 归属于上市公司股东的净利 润 | 72,705,684.06 | 67 ...

Financial Performance - Total operating income for Q1 2025 was RMB 190,070 million, a decrease of 5.40% compared to RMB 200,928 million in Q1 2024[5] - Net profit for Q1 2025 was RMB 83,742 million, down 3.64% from RMB 86,907 million in Q1 2024[5] - The net profit attributable to shareholders was RMB 83,351 million, reflecting a decline of 3.99% year-over-year[5] - The group's net profit for the three months ended March 31, 2025, was RMB 83,742 million, slightly down from RMB 86,907 million in the same period last year, a decrease of approximately 2%[52] - The group's total comprehensive income for the three months ended March 31, 2025, was RMB 67,451 million, down 25.4% from RMB 90,424 million in the same period of 2024[42] Assets and Liabilities - Total assets as of March 31, 2025, reached RMB 42,794,715 million, representing a growth of 5.48% from RMB 40,571,149 million at the end of 2024[5] - Total assets as of March 31, 2025, amounted to RMB 42.795 trillion, an increase from RMB 40.571 trillion year-over-year[35] - Total liabilities reached RMB 39.383 trillion, compared to RMB 37.227 trillion in the previous year[35] - The total equity attributable to shareholders was RMB 3.389 trillion, up from RMB 3.322 trillion year-over-year[35] Cash Flow - The net cash flow from operating activities increased significantly to RMB 721,067 million, a rise of 244.46% compared to RMB 209,335 million in the same period last year[8] - The net cash flow from financing activities was a negative RMB 20,295 million, compared to a positive RMB 38,576 million in the same period last year, indicating a shift in financing strategy[51] - The net increase in cash and cash equivalents was RMB 194,385 million, compared to RMB 116,926 million in the previous year, representing an increase of about 66%[53] - The total cash and cash equivalents at the end of the period stood at RMB 763,833 million, compared to RMB 1,042,389 million at the end of the previous year, indicating a decrease in liquidity[51] Shareholder Information - As of March 31, 2025, the total number of ordinary shareholders was 308,181, with H-share shareholders numbering 36,896 and A-share shareholders at 271,285[6] - The top shareholder, Central Huijin Investment Ltd., held 57.03% of H-shares, totaling 142,590,494,651 shares[6] - The number of preferred shareholders was 24, all domestic, with the largest holding being 104,690,000 shares by Hua Bao Trust Co., Ltd., representing 17.45%[9] Income and Expenses - Net interest income was RMB 141.923 billion, down 5.21% from the same period last year, with a net interest margin of 1.41%, a decline of 16 basis points[28] - Non-interest income totaled RMB 48.147 billion, a decrease of 5.96% year-over-year, with net fee and commission income at RMB 37.460 billion, down 4.63%[28] - The group's total operating expenses decreased to RMB 96,549 million, down from RMB 98,730 million in the same period of 2024[38] Loans and Advances - The total loans and advances amounted to CNY 27.02 trillion, up CNY 1.18 trillion or 4.55% from the previous year-end[22] - The balance of loans to technology-related industries exceeded CNY 4 trillion, with loans to strategic emerging industries growing by 17.14% year-on-year to CNY 3.34 trillion[15] - The balance of green loans reached CNY 5.64 trillion, reflecting a year-to-date growth of 13.18%[15] - The balance of inclusive finance loans for small and micro enterprises rose to CNY 3.63 trillion, an increase of CNY 2.22 billion from the previous year-end[20] Capital and Investment - The group's capital adequacy ratio was 19.15%, with a Tier 1 capital ratio of 14.67% and a core Tier 1 capital ratio of 13.98%[27] - The bank issued RMB 40 billion in subordinated capital bonds in March 2025[29] - The bank plans to issue A-shares to raise up to RMB 105 billion to supplement its core tier one capital[29] - The group has signed a strategic cooperation agreement for a venture capital secondary market fund with a scale of CNY 10 billion, marking a significant step in supporting technology innovation[15] Other Financial Metrics - The annualized weighted average return on equity decreased to 10.42%, down 1.17 percentage points from 11.59% in the previous year[5] - The annualized average return on assets was 0.80%, and the annualized weighted average return on equity was 10.42%[28] - The non-performing loan ratio stood at 1.33%, a slight decrease of 0.01 percentage points from the previous year-end, with a provision coverage ratio of 236.81%[23] - The group's credit impairment losses remained stable at RMB 48,156 million, consistent with RMB 48,157 million in the same period of 2024[38]

Financial Performance - For Q1 2025, the operating income was RMB 164.91 billion, representing a year-on-year increase of 2.41%[5] - The net profit after tax for the same period was RMB 58.64 billion, showing a decrease of 2.22% compared to the previous year[5] - In Q1 2025, the group achieved a net profit of RMB 58.644 billion, a year-on-year decrease of 2.22%[15] - Total operating income for the group was RMB 164.911 billion, an increase of RMB 3.873 billion or 2.41% year-on-year[15] - The basic and diluted earnings per share were RMB 0.18, down from RMB 0.32 in the same period last year[5] - The weighted average return on equity (annualized) was 9.09%, a decrease of 0.77 percentage points compared to the previous year[5] - Net interest income decreased by RMB 4.985 billion, down 4.42%, with a net interest margin of 1.29%[15] - Non-interest income rose to RMB 57.184 billion, an increase of RMB 8.858 billion or 18.33%, accounting for 34.68% of total operating income[15] Assets and Liabilities - The total assets as of March 31, 2025, amounted to RMB 35.99 trillion, an increase of 2.64% from the end of 2024[5] - Total assets reached RMB 35,987.147 billion, an increase of RMB 925.848 billion or 2.64% from the end of the previous year[16] - Total liabilities amounted to RMB 33,019.414 billion, an increase of RMB 911.079 billion or 2.84%[17] - Total liabilities increased to RMB 33,019,414 million as of March 31, 2025, up from RMB 32,108,335 million as of December 31, 2024[25] Shareholder Information - As of March 31, 2025, the total number of ordinary shareholders was 581,247, including 419,116 A-share shareholders and 162,131 H-share shareholders[9] - The top ten ordinary shareholders held a combined 64.13% of the shares, with the largest shareholder being Central Huijin Investment Ltd.[10] - The total number of preferred shareholders was 104, all of whom were domestic investors[12] Cash Flow and Dividends - The net cash flow from operating activities was a net outflow of RMB 40.46 billion, a significant change from a net inflow of RMB 3.24 billion in the same period last year[7] - The company reported a net cash outflow from operating activities of RMB 40,463 million in Q1 2025, compared to a net inflow of RMB 3,240 million in Q1 2024[27] - The group announced a cash dividend of RMB 1.208 per 10 shares, totaling RMB 35.562 billion, and a second phase of overseas preferred stock dividends amounting to approximately USD 10.15 million[20][21] - The company distributed dividends to common shareholders amounting to (35,562) thousand in Q1 2025, marking a new expense category compared to no dividends in Q1 2024[29] Customer Loans and Deposits - Customer loans and advances totaled RMB 32,260.874 billion, up RMB 1,014.680 billion or 4.70%[16] - Customer loans and advances net amount reached RMB 22,052,439 million as of March 31, 2025, an increase from RMB 21,055,282 million as of December 31, 2024[24] - The net increase in customer deposits was RMB 1,412,785 million in Q1 2025, compared to RMB 1,208,403 million in Q1 2024[27] Other Financial Metrics - The non-performing loan ratio remained stable at 1.25%, with a coverage ratio of 197.97%, down 2.63 percentage points from the previous year[18] - Other comprehensive income for Q1 2025 was a loss of RMB 23,648 million, contrasting with a gain of RMB 8,602 million in Q1 2024[23] - Cash flow from investment activities for Q1 2025 was a net outflow of (370,671) thousand, compared to (148,016) thousand in Q1 2024, indicating a significant increase in investment expenditures[29] - Cash flow from financing activities showed a net outflow of (169,343) thousand in Q1 2025, a decrease from a net inflow of 52,762 thousand in Q1 2024, reflecting higher debt repayments[29] - The net decrease in cash and cash equivalents for Q1 2025 was (565,055) thousand, compared to (100,680) thousand in Q1 2024, highlighting a substantial decline in liquidity[29] - Interest income received in Q1 2025 was 205,639 thousand, down from 224,791 thousand in Q1 2024, indicating a decrease in interest earnings[29] - The cash balance at the end of Q1 2025 was 1,803,874 thousand, a decrease from 2,416,045 thousand at the end of Q1 2024, showing a reduction in available cash[29] - Cash received from the disposal of financial investments in Q1 2025 was 1,178,558 thousand, slightly up from 1,172,717 thousand in Q1 2024, indicating stable asset liquidation[29] - Cash paid for purchasing financial investments in Q1 2025 increased to (1,600,188) thousand from (1,368,275) thousand in Q1 2024, reflecting a higher investment in financial assets[29] - Cash received from bond issuance in Q1 2025 was 221,714 thousand, compared to 206,948 thousand in Q1 2024, showing an increase in capital raised through debt[29] - The interest paid in Q1 2025 was (137,416) thousand, a decrease from (150,442) thousand in Q1 2024, indicating improved interest expense management[29]

Financial Performance - The company's operating revenue for 2024 reached RMB 213,646 million, an increase of 3.76% compared to RMB 205,896 million in 2023[39]. - The net profit attributable to shareholders for 2024 was RMB 68,576 million, reflecting a growth of 2.33% from RMB 67,016 million in 2023[39]. - The total assets of the company as of December 31, 2024, amounted to RMB 9,532,722 million, representing a 5.31% increase from RMB 9,052,484 million in 2023[44]. - The company's loan and advance total reached RMB 5,720,128 million, marking a 4.03% increase from RMB 5,498,344 million in 2023[44]. - The average return on total assets (ROAA) for 2024 was 0.75%, a decrease of 0.02% from 0.77% in 2023[42]. - The weighted average return on equity (ROAE) for 2024 was 9.79%, down from 10.80% in 2023, indicating a decline of 1.01%[42]. - The cost-to-income ratio for 2024 was 32.49%, slightly up from 32.35% in 2023[42]. - The total customer deposits reached RMB 5,778,231 million, reflecting a growth of 7.04% from RMB 5,398,183 million in 2023[44]. - The company's general corporate loan balance reached CNY 2,679.67 billion, an increase of CNY 200.03 billion or 8.07% compared to the end of the previous year, with the new issuance of corporate loans achieving a historical high[184]. Asset Quality and Risk Management - Non-performing loan ratio improved to 1.16%, marking six consecutive years of decline, with provision coverage ratio rising to over 209%[22]. - Non-performing loan ratio decreased to 1.16% in 2024 from 1.18% in 2023, showing a 0.02% improvement[47]. - Provision coverage ratio increased to 209.43% in 2024 from 207.59% in 2023, reflecting a 1.84% rise[47]. - The loan provision ratio was 2.43% in 2024, slightly down from 2.45% in 2023[47]. - The bank's overall risk resistance capability remains adequate, with a loan provision ratio of 2.43%, a slight decrease of 0.02 percentage points from the end of the previous year[196]. - The bank's focus on risk management includes differentiated credit policies for real estate enterprises to mitigate risks effectively[198]. Strategic Initiatives and Market Position - The bank's strategy focuses on becoming a leading wealth management and comprehensive financing bank, emphasizing digital transformation[5]. - The bank aims to deepen digital integration and enhance customer engagement through intelligent management and operations[25]. - The bank plans to enhance dividend payout ratio to reward investor trust and support[18]. - Strategic focus on "light capital, light assets, light costs" to drive quality improvement and achieve sustainable development[24]. - The bank aims to enhance its financial services to support the real economy and improve risk management capabilities[58]. Awards and Recognition - CITIC Bank was recognized as a "Market Influential Institution" and "Market Innovative Business Institution" by the National Interbank Funding Center in January 2024[33]. - The bank received an "A-" issuer rating from S&P in April 2024[34]. - The bank was awarded multiple honors by the Shanghai Clearing House for its high-quality development in centralized clearing and issuance registration services in February 2024[33]. - CITIC Bank was recognized as an "Outstanding Comprehensive Business Institution" and "Outstanding Acceptance Institution" by the Shanghai Bills Exchange in January 2024[33]. - The bank was rated as a "Leading Institution in the Bond Market" and "Outstanding Financial Bond Issuer" by the Central Government Bond Registration and Settlement Co., Ltd. in January 2024[33]. Customer Base and Market Expansion - Retail customer base expanded to 145 million, with retail management assets reaching 4.69 trillion, and personal mortgage loans exceeding 1 trillion[21]. - CITIC Bank has established 1,470 branches across 153 major cities in China, enhancing its market presence[4]. - The bank's international presence includes 31 branches and 2 business centers in major global financial hubs[4]. ESG Commitment - The bank's ESG rating improved significantly, reflecting its commitment to sustainable development[17]. - Commitment to ESG principles, balancing social and economic value while fostering a value community with stakeholders[26]. Financial Metrics - The liquidity coverage ratio stood at 218.13% in 2024, up from 167.48% in 2023, indicating improved liquidity management[52]. - The capital adequacy ratio stood at 13.36%, with a Tier 1 capital ratio of 11.26% and a core Tier 1 capital ratio of 9.72%, all meeting regulatory requirements[169]. - The net interest margin remained stable at 1.77%, outperforming the market for three consecutive years[23]. - The bank's total operating income for 2024 was RMB 213,646 million, an increase of 3.5% compared to RMB 205,896 million in 2023[181].