广东利扬芯片测试股份有限公司2025 年第一季度报告 证券代码：688135 证券简称：利扬芯片 广东利扬芯片测试股份有限公司 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、准确性和完整性依法承担法律责任。 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 广东利扬芯片测试股份有限公司2025 年第一季度报告 | （%） | | | | | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年 度末增减变动幅度 | | | | | (%) | | 总资产 | 2,564,478,515.20 | 2,592,747,635.77 | -1.09 | | 归属于上市公司股东的所有 者权益 | 1,111,3 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 688,989,400.70, a year-on-year increase of 0.30% and a quarter-on-quarter increase of 37.30%[3]. - Net profit attributable to shareholders decreased by 19.88% year-on-year to CNY 110,258,240.35, while the net profit excluding non-recurring gains and losses fell by 25.38% to CNY 99,168,300.25[3]. - Total revenue for Q1 2025 reached ¥688,989,400.70, a slight increase from ¥686,909,061.52 in Q1 2024, representing a growth of approximately 0.31%[21]. - Net profit for Q1 2025 was ¥116,197,969.19, compared to ¥141,852,238.97 in Q1 2024, reflecting a decrease of approximately 18.1%[22]. - The total comprehensive income for Q1 2025 was ¥116,655,247.96, down from ¥141,864,993.51 in Q1 2024, reflecting a decrease of about 17.73%[22]. - Basic and diluted earnings per share for Q1 2025 were both CNY 0.35, down from CNY 0.44 in Q1 2024, indicating a decrease of approximately 20.45% year-over-year[23]. Cash Flow - The net cash flow from operating activities dropped significantly by 51.79% to CNY 37,219,201.54 compared to the previous year[3][13]. - Cash inflow from operating activities for Q1 2025 was CNY 580,704,504.07, compared to CNY 560,317,919.65 in Q1 2024, reflecting an increase of about 3.46%[24]. - Net cash flow from operating activities decreased to CNY 37,219,201.54 in Q1 2025, down 51.74% from CNY 77,204,996.82 in Q1 2024[24]. - The company reported a total cash outflow from operating activities of CNY 543,485,302.53 in Q1 2025, compared to CNY 483,112,922.83 in Q1 2024, reflecting an increase of about 12.49%[24]. - Cash inflow from investment activities for Q1 2025 was CNY 1,109,537,955.23, significantly higher than CNY 384,384,067.11 in Q1 2024, marking an increase of approximately 188.06%[25]. - Net cash flow from investment activities improved to CNY 82,434,530.50 in Q1 2025, compared to a negative CNY 7,529,404.95 in Q1 2024[25]. - Cash inflow from financing activities totaled CNY 194,362,611.12 in Q1 2025, a substantial increase from CNY 5,170,000.00 in Q1 2024[25]. - The net increase in cash and cash equivalents for Q1 2025 was CNY 102,689,591.57, compared to CNY 50,425,150.14 in Q1 2024, indicating a growth of approximately 103.67%[25]. - The ending balance of cash and cash equivalents as of Q1 2025 was CNY 637,393,622.25, down from CNY 1,307,071,714.34 in Q1 2024[25]. Market Performance - The life sciences segment generated revenue of CNY 354 million, up 1.06% year-on-year and 53.28% quarter-on-quarter[5]. - Domestic market revenue was CNY 482 million, down 3.35% year-on-year but up 54.98% quarter-on-quarter, indicating resilience in a challenging market[6]. - Overseas market revenue reached CNY 204 million, showing a year-on-year growth of 9.88% and a quarter-on-quarter increase of 8.99%[7]. - The market share of the company's biological safety cabinet products has risen to the second brand in the domestic market during Q1 2025[7]. Research and Development - Research and development expenses totaled CNY 80,452,189.16, representing 11.68% of operating revenue, an increase of 0.43 percentage points year-on-year[4]. - Research and development expenses for Q1 2025 were ¥80,452,189.16, compared to ¥77,257,984.27 in Q1 2024, indicating a growth of about 2.85%[21]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,793[15]. - The largest shareholder, Qingdao Haier Biomedical Co., Ltd., holds 100,591,463 shares, accounting for 31.64% of the total shares[15]. - The second largest shareholder, Qingdao Haizhi Huiying Equity Investment Management Co., Ltd., holds 32,103,659 shares, representing 10.10% of the total shares[15]. - The company has no changes in the top 10 shareholders due to securities lending activities[17]. Assets and Liabilities - Total current assets as of March 31, 2025, amount to ¥2,314,000,000, a decrease from ¥2,400,000,000 as of December 31, 2024[18]. - Cash and cash equivalents decreased to ¥831,055,160.95 from ¥901,227,075.69[18]. - Accounts receivable increased to ¥431,897,441.94 from ¥323,845,820.79, indicating a growth of approximately 33.5%[18]. - Inventory decreased to ¥303,739,515.42 from ¥334,744,974.95, a decline of about 9.3%[18]. - The company's total assets amounted to ¥5,830,440,601.44, slightly up from ¥5,787,468,795.01 in the previous year[21]. - Total liabilities decreased to ¥1,121,639,324.69 from ¥1,169,332,762.22, showing a reduction of about 4.08%[20]. - The equity attributable to shareholders increased to ¥4,456,255,374.10 from ¥4,371,550,511.01, marking an increase of approximately 1.94%[20]. Operational Conditions - The company has not reported any significant changes in operational conditions during the reporting period[17]. - The company has not disclosed any new strategies or product developments in the current reporting period[17]. - The company did not report any net profit from the merged entity prior to the merger, with previous periods also showing zero net profit[23].

Financial Performance - The net profit attributable to shareholders for Q1 2025 was a loss of ¥7,590,124.74, representing a significant decline of 787.59% year-over-year[10] - Operating revenue for Q1 2025 was ¥8,833,426.32, down 79.48% from ¥43,040,490.24 in the same period last year[10] - The company's cash flow from operating activities showed a net outflow of ¥4,852,776.39, a decrease of 106.95% compared to the previous year[10] - Total operating revenue for Q1 2025 was CNY 8,833,426.32, compared to CNY 43,040,490.24 in Q1 2024, indicating a significant decline[41] - Net profit for Q1 2025 was a loss of CNY 7,590,124.74, compared to a loss of CNY 855,140.23 in Q1 2024, reflecting a worsening financial position[42] - The company reported a total comprehensive loss of -7,531,310.51 CNY for Q1 2025, compared to -855,259.32 CNY in Q1 2024, underscoring the financial difficulties faced[44] Assets and Liabilities - Total assets as of March 31, 2025, amounted to ¥897,075,974.09, reflecting a slight increase of 0.34% compared to the end of 2024[10] - The total liabilities to assets ratio for the consolidated entity was 30.42%, up from 29.34% at the end of 2024[10] - Total liabilities reached ¥272,887,931.41, up from ¥262,277,906.79, indicating an increase of about 4%[37] - Current liabilities rose to CNY 285,788,926.51 from CNY 278,891,855.41, showing an increase in short-term financial commitments[40] - The company's equity attributable to shareholders decreased to ¥624,188,042.68 from ¥631,778,167.42, a decline of approximately 1.2%[37] Cash Flow - Cash flow from operating activities for Q1 2025 was -4,852,776.39 CNY, a sharp decline from 69,792,422.59 CNY in Q1 2024, highlighting cash flow challenges[46] - Cash flow from investing activities for Q1 2025 was -50,998,394.28 CNY, compared to -110,170,374.45 CNY in Q1 2024, showing reduced investment outflows[46] - Cash flow from financing activities for Q1 2025 was 5,850,771.59 CNY, contrasting with -13,704,584.36 CNY in Q1 2024, indicating improved financing conditions[46] - The ending cash and cash equivalents balance for Q1 2025 was 87,015,979.61 CNY, down from 239,801,418.68 CNY in Q1 2024, reflecting liquidity pressures[46] Shareholder Information - The total number of restricted shares is 51,275,250, accounting for 38.73% of the total share capital of 132,376,125[18] - The largest shareholder, Zhang Zhen, holds 60,636,000 shares, representing 45.81% of the total shares, with 45,477,000 of these being restricted shares[19] - The total number of shareholders holding more than 5% of shares is 10, with a combined holding of 86,215,400 shares, which is 65.69% of the total shares[20] - There are no reported pledges or judicial freezes on shares held by shareholders with more than 5% ownership[21] Operational Efficiency - The company has conducted a self-inspection and made accounting adjustments due to internal control deficiencies in asset and project management[28] - The company has no ongoing litigation or arbitration matters during the reporting period[23] - The company has no reported cases of shareholder or related party occupation or transfer of company funds, assets, or other resources during the reporting period[25] Investment and Expenses - Research and development expenses for Q1 2025 were CNY 7,978,126.60, down from CNY 10,321,572.65 in Q1 2024, indicating a reduction in investment in innovation[41] - The company plans to invest 51,000,000 yuan in short-term financial products as part of its external investment strategy[29] - The company reported a financial expense of CNY -2,903,679.70 in Q1 2025, compared to CNY 1,907,417.35 in Q1 2024, reflecting improved financial management[41]

Corporate Governance and Meetings - The company held its first extraordinary general meeting on January 26, 2024, approving multiple proposals including amendments to the articles of association and profit distribution management system [4]. - The company’s board secretary is Ni Chengbiao, and the contact information is provided for investor inquiries [14]. - The board of directors held six meetings during the reporting period, addressing significant matters such as the annual report and profit distribution plan [152]. - The company held five shareholder meetings in 2024, utilizing both on-site and online voting methods [169]. - The company has maintained effective communication with its auditing firm, ensuring compliance with relevant regulations and standards [83]. - The independent directors attended all board meetings and shareholder meetings, with their suggestions being accepted [161]. - The supervisory committee reported no objections regarding the annual supervision matters, indicating effective oversight [163]. - The company has established a robust governance mechanism to ensure all shareholders, especially minority shareholders, can exercise their rights effectively [148]. Financial Performance - The total revenue for 2024 was CNY 180,417,281.43, a decrease of 19.79% compared to CNY 224,933,420.70 in 2023 [25]. - The net profit attributable to shareholders for 2024 was CNY 13,958,547.66, down 22.25% from CNY 17,952,154.55 in 2023 [25]. - The gross profit margin increased to 26.82% in 2024 from 22.18% in 2023 [25]. - The total assets decreased by 11.64% to CNY 358,950,442.43 in 2024 from CNY 406,216,416.01 in 2023 [24]. - The total liabilities decreased by 32.16% to CNY 113,727,199.15 in 2024 from CNY 167,628,754.61 in 2023 [24]. - The cash flow from operating activities increased by 88.39% to CNY 43,797,192.27 in 2024 from CNY 23,247,717.74 in 2023 [24]. - The weighted average return on equity based on net profit attributable to shareholders was 5.79% in 2024, down from 7.72% in 2023 [25]. - The inventory turnover rate decreased to 2.91 in 2024 from 4.01 in 2023 [24]. Profit Distribution and Share Capital - On May 30, 2024, the company implemented a profit distribution plan, increasing the total share capital from 72,250,000 shares to 101,150,000 shares by issuing 4 new shares for every 10 shares held and distributing 1 RMB in cash per share [4]. - The company’s total share capital after the profit distribution is 101,150,000 shares, with no preferred shares issued [17]. - The company revised its profit distribution policy, ensuring that cash dividends will not be less than 10% of the distributable profit for the year, with a total cash dividend amounting to 7,225,000 RMB, representing 40.25% of the 2023 net profit [125]. - The annual equity distribution plan for 2023 includes a cash dividend of 1.00 RMB for every 10 shares and a capital reserve conversion of 4 shares for every 10 shares [125]. - The company has committed to a cash dividend policy where the total cash dividends over the last three years will not be less than 30% of the average annual net profit [125]. Research and Development - The company holds 63 patents as of December 31, 2024, and is recognized as a "specialized, refined, distinctive, and innovative" enterprise [34]. - Research and development expenses rose by 11.37% to ¥8,453,487.74, compared to ¥7,590,785.55 in 2023 [43]. - R&D expenditure amounted to ¥8,453,487.74, representing 4.69% of operating revenue, up from 3.37% in the previous period [72]. - Significant R&D projects completed include the development of a low-voltage energy storage system for electrified railways, aimed at improving grid performance and reducing electricity costs [76]. - The company plans to enhance product safety and performance through ongoing R&D initiatives, including the development of a new type of dry transformer [76]. Risk Management - The company has not identified any major risks of delisting or significant changes in major risks during the reporting period [10]. - The company has identified high customer concentration as a risk, with major clients including railway and power grid companies, and plans to enhance market promotion efforts [92]. - The company has not encountered any significant uncertainties affecting its future operational strategies during the reporting period [91]. Employee and Management - The company has implemented a comprehensive labor contract system and provided social insurance for all employees, including pension and medical insurance [140]. - The total number of R&D personnel increased from 31 to 34, with R&D personnel accounting for 30.09% of total employees [73]. - The company’s management compensation for 2024 will be determined based on industry standards, company performance, and individual responsibilities [137]. - The company is committed to continuous employee training to enhance professional skills and management capabilities [140]. Legal and Compliance - The company has not faced any major lawsuits or arbitration cases that remain unresolved during the reporting period [98]. - The company has not engaged in any significant asset acquisitions or disposals during the reporting period [101]. - The company has established a system for disclosing information, adhering to principles of authenticity, accuracy, completeness, and timeliness [170]. - The audit report issued by Zhongxi Accounting Firm confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2024 [173]. Future Outlook - Future outlook indicates continued market expansion and potential new product launches [10]. - The company plans to actively develop and promote energy storage equipment and expand its intelligent substation cloud platform business [90]. - The domestic power distribution industry is expected to benefit from increasing electricity demand and government infrastructure investments, providing growth opportunities [87].

Financial Performance - Operating revenue for the first quarter of 2025 reached CNY 11,759,217.16, representing a significant increase of 180.25% year-over-year[11] - Net profit attributable to shareholders for the first quarter of 2025 was a loss of CNY 2,675,522.31, a decline of 431.11% compared to the same period last year[11] - The company reported a total comprehensive income of -¥2,275,518.95 for Q1 2025, compared to ¥1,812,845.94 in Q1 2024, reflecting a substantial decline[42] - The net profit for Q1 2025 was a loss of ¥2,275,518.95, compared to a net profit of ¥1,812,845.94 in Q1 2024, indicating a decline in profitability[41] - Basic and diluted earnings per share for Q1 2025 were both -¥0.03, compared to ¥0.01 in Q1 2024[40] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 11,351,613.64, a decrease of 767.99% year-over-year[11] - The net cash flow from operating activities for Q1 2025 was negative at -¥11,351,613.64, compared to -¥1,307,802.31 in Q1 2024, showing a worsening cash flow situation[43] - The cash inflow from operating activities totaled ¥24,124,572.78 in Q1 2025, slightly up from ¥23,702,145.00 in Q1 2024, showing a marginal improvement[43] - Cash and cash equivalents decreased by 37.27% to CNY 99,740,270.63 due to investments in short-term low-risk financial products[12] - The total cash and cash equivalents at the end of Q1 2025 were ¥95,627,247.85, down from ¥132,492,935.82 at the end of Q1 2024, a decrease of approximately 28%[43] Assets and Liabilities - Total assets as of March 31, 2025, were CNY 271,577,014.77, a decrease of 0.18% compared to the end of 2024[11] - Total liabilities as of March 31, 2025, were CNY 32,843,353.36, up from CNY 30,661,896.67 at the end of 2024, indicating an increase of approximately 7.12%[34] - The company's equity decreased from CNY 241,409,183.72 to CNY 238,733,661.41, a decline of about 0.70%[34] - Current assets totaled CNY 201,147,518.77, compared to CNY 202,914,844.59 at the end of 2024, indicating a decrease of approximately 0.87%[32] - Total liabilities decreased to ¥26,472,343.63 from ¥27,448,362.32, indicating a reduction in financial obligations[37] Investments and Expenses - Total operating costs for Q1 2025 were ¥16,512,097.75, up from ¥13,490,042.27 in Q1 2024, reflecting a rise in expenses[38] - Research and development expenses for Q1 2025 were ¥6,080,548.20, compared to ¥5,438,823.06 in Q1 2024, highlighting an increase in investment in innovation[38] - The company incurred total operating expenses of ¥35,476,186.42 in Q1 2025, compared to ¥25,009,947.31 in Q1 2024, marking an increase of about 41.9%[43] Shareholder Information - The total number of unrestricted shares increased from 66,328,421 to 66,648,421, representing a rise from 62.47% to 62.77% of total shares[19] - Major shareholder Xu Yifa holds 43,378,037 shares, accounting for 40.85% of total shares, with 32,533,528 being unrestricted[20] - The total share capital remained unchanged at 106,182,400 shares, with 9,127 shareholders[19] Legal Matters - The company initiated legal proceedings against Yichang Chengfa Kangyang Industry Investment Co., Ltd. for unpaid goods totaling 5,334,725.00[25] - The company also filed a lawsuit against Wuhan Jinmao Engineering Technology Co., Ltd. for the return of unjust enrichment amounting to 5,214,627.00[26] Other Financial Metrics - Non-recurring gains totaled 587,942.58, significantly impacting the financial results[17] - The company reported a credit impairment loss of ¥493,360.88 for Q1 2025, compared to ¥2,844,726.63 in the previous year, indicating improved asset quality[39] - The company recorded a fair value change gain of ¥134,711.27 in Q1 2025, contributing positively to the financial results[39]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 115,296,526.87, a decrease of 10.9% compared to CNY 129,406,701.97 in the same period last year[4]. - Net profit attributable to shareholders decreased by 51.52% to CNY 34,029,618.77 from CNY 70,190,798.47 year-on-year[4]. - The net profit after deducting non-recurring gains and losses increased by 15.95% to CNY 22,760,297.27 compared to CNY 19,629,646.53 in the previous year[4]. - Net profit for Q1 2025 was CNY 34,227,418.43, down 51.3% from CNY 70,334,720.12 in Q1 2024[19]. - Earnings per share for Q1 2025 was CNY 0.27, compared to CNY 0.55 in Q1 2024[20]. - The company reported a decrease in comprehensive income to CNY 32,331,616.02 in Q1 2025 from CNY 70,370,450.36 in Q1 2024[20]. Cash Flow - The net cash flow from operating activities was negative at CNY -11,098,782.01, compared to a positive CNY 1,008,618.28 in the same period last year[4]. - Net cash flow from operating activities was -$11.1 million, a decrease from $1.0 million in the previous period[23]. - Cash paid for operating activities totaled $138.6 million, compared to $166.1 million last year[23]. - Cash received from sales in Q1 2025 was CNY 103,961,347.43, a decrease from CNY 110,735,727.41 in Q1 2024[22]. - The company reported a net increase in cash and cash equivalents of -$31.8 million, compared to an increase of $321.7 million last year[24]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,844,995,156.61, reflecting a 1.31% increase from CNY 5,769,310,895.27 at the end of the previous year[5]. - Current assets totaled RMB 4,847,904,481.23, compared to RMB 4,769,982,927.28 at the end of 2024, reflecting a growth of approximately 1.6%[13]. - Total liabilities reached RMB 612,876,253.81, compared to RMB 569,523,608.49 at the end of 2024, marking an increase of about 7.6%[14]. - The company's non-current assets totaled RMB 997,090,675.38, slightly down from RMB 999,327,967.99[14]. - The company's total equity attributable to shareholders was CNY 5,235,733,004.95, reflecting a slight increase from CNY 5,203,599,188.59[15]. Research and Development - Research and development expenses totaled CNY 25,058,704.57, representing an increase of 26.3% from CNY 19,840,217.39 year-on-year[4]. - Research and development expenses rose to CNY 25,058,704.57 in Q1 2025, an increase of 26.5% from CNY 19,840,217.39 in Q1 2024[19]. Non-Recurring Items - The company reported non-recurring gains of CNY 11,269,321.50 after tax, primarily due to government subsidies and other non-operating income[7]. - Other income decreased significantly to CNY 1,725,120.33 in Q1 2025 from CNY 13,159,386.79 in Q1 2024[19]. Inventory and Receivables - The company reported a significant increase in inventory, which stood at RMB 143,539,795.97, compared to RMB 147,167,029.08 previously[13]. - Accounts receivable increased to RMB 283,512,930.50, up from RMB 203,690,596.91, representing a significant rise of approximately 39.2%[13]. Other Information - The total number of ordinary shareholders at the end of the reporting period was 5,935[9]. - The company has not disclosed any new product launches or technological advancements during this reporting period[12]. - There are no significant mergers or acquisitions reported in the current financial period[12].

Financial Performance - The company's operating revenue for Q1 2025 was RMB 55.57 million, a decrease of 44.46% compared to RMB 100.06 million in the same period last year[2]. - The net profit attributable to shareholders was a loss of RMB 13.29 million, compared to a loss of RMB 9.38 million in the previous year, reflecting a decrease of 41.71%[2][7]. - The net cash flow from operating activities was a negative RMB 32.37 million, a decline of 113.71% from RMB -15.15 million year-on-year[2][7]. - The company reported a net loss of CNY 401,486,779.60 for the period, compared to a net loss of CNY 388,196,896.08 at the end of 2024[16]. - The company's net profit for Q1 2025 was -13,760,376.90 RMB, compared to -7,938,271.35 RMB in Q1 2024, representing an increase in net loss of approximately 73%[20]. - Operating profit for Q1 2025 was -13,420,404.99 RMB, worsening from -7,049,886.89 RMB in the same period last year[20]. - Total revenue from sales and services in Q1 2025 was 48,493,439.42 RMB, down from 67,156,758.39 RMB in Q1 2024, indicating a decline of about 28%[22]. - The cash flow from operating activities in Q1 2025 was -32,366,884.89 RMB, compared to -15,145,304.53 RMB in Q1 2024, reflecting a worsening cash flow situation[23]. - The basic earnings per share for Q1 2025 was -0.17 RMB, compared to -0.12 RMB in Q1 2024[21]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 1,007.76 million, a decrease of 1.81% from RMB 1,026.32 million at the end of the previous year[3]. - Total liabilities as of March 31, 2025, were CNY 309,727,404.07, down from CNY 314,527,617.77 at the end of 2024[15]. - The company's total equity as of March 31, 2025, was CNY 698,033,200.31, a decrease from CNY 711,793,577.21 at the end of 2024[16]. - Cash and cash equivalents as of March 31, 2025, were CNY 80,111,653.19, slightly down from CNY 80,346,375.99 at the end of 2024[13]. - Accounts receivable increased to CNY 381,227,943.97 as of March 31, 2025, compared to CNY 377,780,310.13 at the end of 2024[14]. - Inventory as of March 31, 2025, was CNY 35,427,923.07, up from CNY 34,991,410.27 at the end of 2024[14]. Research and Development - Research and development expenses totaled RMB 11.21 million, accounting for 20.17% of operating revenue, an increase of 5.52 percentage points compared to 14.64% last year[3]. - The company's total expenses for R&D in Q1 2025 were 7,160,322.82 RMB, down from 12,940,729.70 RMB in Q1 2024, indicating a reduction of approximately 44%[20]. - The company plans to continue focusing on R&D and market expansion despite the current financial challenges[2]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 4,563[9]. - The largest shareholder, Shanghai Baiyu Information Technology Co., Ltd., holds 31.63% of the shares[10]. Cash Flow and Investment - Investment activities generated a net cash flow of 16,728,048.33 RMB in Q1 2025, down from 61,996,900.26 RMB in Q1 2024[23]. - The company reported a cash and cash equivalents balance of 79,284,903.19 RMB at the end of Q1 2025, a decrease from 105,226,620.61 RMB at the end of Q1 2024[24]. - The total cash inflow from operating activities in Q1 2025 was 52,755,631.23 RMB, down from 72,840,967.90 RMB in Q1 2024, a decline of about 27%[22]. Financial Ratios - The weighted average return on equity was -1.86%, down from -1.15% in the previous year[3]. - The company incurred financial expenses of 304,615.70 RMB in Q1 2025, slightly up from 288,582.54 RMB in Q1 2024[20].

申联生物医药（上海）股份有限公司2025 年第一季度报告 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。 证券代码：688098 证券简称：申联生物 申联生物医药（上海）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、准确性和完整性依法承担法律责任。 重要内容提示 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 | 本报告期比上 | | | --- | --- | --- | --- | | | | 上年同期 年同期增减变 | | | | | 动幅度(%) | | | 营业收入 | 78,741,129.63 | 88,058,162.67 | -10.58 | | 归属于上市公司股东的净利润 | -3,019,866.61 ...

Financial Performance - The company's revenue for 2024 reached RMB 540,698,462.10, representing a 7.42% increase compared to RMB 503,357,076.78 in 2023[20]. - The net profit attributable to shareholders for 2024 was RMB 192,295,303.31, a significant increase of 35.85% from RMB 141,553,680.39 in 2023[20]. - The net cash flow from operating activities improved to RMB 75,093,227.27 in 2024, recovering from a negative cash flow of RMB -623,082,613.12 in 2023[20]. - The total assets as of the end of 2024 were RMB 5,769,310,895.27, a slight decrease of 0.35% from RMB 5,789,539,225.57 in 2023[20]. - The basic earnings per share for 2024 increased to RMB 1.51, up 36.04% from RMB 1.11 in 2023[21]. - The diluted earnings per share also rose to RMB 1.51, reflecting the same growth rate of 36.04% compared to 2023[21]. - The net profit after deducting non-recurring gains and losses decreased to RMB 37,897,947.37 in 2024, down 27.6% from RMB 52,345,318.72 in 2023[20]. - The gross profit margin decreased by 3.15 percentage points to 39.10% due to rising costs[111]. - The company achieved a revenue of 540.70 million RMB, representing a year-on-year growth of 7.42%[108]. - The net profit attributable to the parent company was 192.30 million RMB, an increase of 35.85% compared to the previous year[108]. Dividend Policy - The company plans to distribute a cash dividend of 8 CNY per 10 shares, totaling approximately 101.67 million CNY for the year, which represents 79.30% of the net profit attributable to shareholders[4]. - The total cash dividend for the year, including interim distributions, amounts to 152.50 million CNY[4]. - The company has a cash dividend policy that allows for profit distribution in cash, stock, or a combination of both, ensuring it does not exceed distributable profits[177]. - The company plans to distribute cash dividends amounting to CNY 101,666,244.00, which represents 52.87% of the net profit attributable to ordinary shareholders in the consolidated financial statements[184]. - The cumulative cash dividend amount over the last three accounting years is CNY 657,199,648.00, with an average net profit of CNY 1,126,174,097.84, resulting in a cash dividend ratio of 58.36%[187]. Research and Development - The company invested 18.69% of its operating revenue in R&D, a decrease of 2.22% compared to the previous year[22]. - The cumulative investment in R&D projects reached ¥578,427,519.68, indicating a strong commitment to innovation and development[87]. - The company has developed 10 new POCT platforms, enhancing its product offerings in the clinical testing market[86]. - The R&D investment as a percentage of operating revenue decreased by 2.22% compared to the previous year, indicating a shift in resource allocation[85]. - The company is actively pursuing new technologies and products, with several projects in various stages of development aimed at enhancing diagnostic capabilities[86]. Market Expansion and Strategy - The company is focusing on expanding its market presence and enhancing its product offerings in the medical device sector[12]. - The company aims to become a leader in the POCT industry, emphasizing its commitment to providing excellent products and services for human health[32]. - The company is exploring growth potential in pet health management, family health management, and medical laboratory sectors[32]. - The company is focusing on expanding its market presence internationally, with significant certifications obtained in Canada (115) and Australia (9)[84]. - The company is committed to developing eight major product series, particularly in drug testing, with a focus on product iteration and providing better services to ensure stable business growth[144]. Compliance and Governance - The company has not reported any significant governance issues that would affect the accuracy of the annual report[6]. - The company has implemented measures to enhance compliance with relevant laws and regulations, including the Securities Law and the Shanghai Stock Exchange listing rules[161]. - The internal control audit report issued by Zhonghuan Accounting Firm confirmed that the company maintained effective financial reporting internal controls as of December 31, 2024[200]. - The independent directors supervise the execution of the company's compensation system and provide review opinions on senior management's compensation[198]. - The company aims to enhance its operational compliance and governance standards to promote sustainable development[161]. Innovation and Technology - The company has established nine major technology platforms in the field of precision medical diagnostics, covering eight areas including drug testing, infectious disease testing, and chronic disease testing[34]. - The company is focusing on technology innovation and global ecological chain layout to drive high-quality development[32]. - The company is actively pursuing innovation in core technologies, with platforms for immunochromatography, dry chemistry, and liquid biochips under development[69]. - The company has developed a dry biochemical technology platform that enhances product performance through enzyme catalysis, membrane immobilization, and multi-detection technology, establishing a competitive advantage in chronic disease detection[71]. - The molecular diagnostics segment is the fastest-growing part of the in vitro diagnostics market, focusing on high-throughput and timely technologies[65]. Risks and Challenges - The company has disclosed potential risks that may adversely affect its operations in the management discussion section[3]. - The company faces risks from intensified market competition and potential declines in market share if it fails to maintain its advantages in R&D and product offerings[98]. - The company is at risk of quality control issues due to the complexity of managing multiple stages in the production and supply chain[100]. - The company faced potential risks from stricter regulations under the new EU IVDR, which could impact its manufacturing capabilities[104]. - The company is exposed to risks from currency fluctuations and international market conditions, as over 90% of its main business income comes from overseas sales[101]. Leadership and Management - The company has maintained a stable leadership structure with no changes in shareholdings among key executives during the reporting period[152]. - The overall compensation structure for executives reflects the company's commitment to aligning performance with shareholder interests[153]. - The management team has undergone changes, with new appointments aimed at strengthening operational efficiency[156]. - The company has established a performance evaluation mechanism for senior management, with annual performance bonuses proposed and approved by the board[198]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 499.94 million[160].

Financial Performance - The net profit attributable to the parent company for the fiscal year 2024 is negative, leading to a decision not to distribute profits or dividends [6]. - In 2024, the company's operating revenue decreased by 2.97% to ¥488,125,581.61 compared to ¥503,084,480.19 in 2023 [24]. - The net profit attributable to shareholders of the listed company fell significantly by 383.69% to -¥61,618,728.34 in 2024 from ¥21,720,777.41 in 2023 [24]. - The basic earnings per share dropped by 381.82% to -¥0.31 in 2024, down from ¥0.11 in 2023 [25]. - The company's total assets increased by 25.00% to ¥2,592,747,635.77 in 2024, compared to ¥2,074,242,043.92 in 2023 [24]. - The cash flow from operating activities increased by 3.98% to ¥204,251,660.94 in 2024, compared to ¥196,442,710.52 in 2023 [24]. - The company achieved operating revenue of 48,812.56 million, a decrease of 2.97% year-on-year, and a net profit attributable to shareholders of -6,161.87 million, down 383.69% year-on-year [40]. - The company's debt-to-asset ratio has increased from 45.26% to 56.74%, indicating a rising trend in liabilities that could impact its solvency [142]. Governance and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants [5]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance [5]. - The company has not reported any special arrangements in corporate governance [9]. - The governance structure has been strengthened with the establishment of a dedicated meeting mechanism for independent directors to enhance oversight and optimize governance [56]. Research and Development - The company invested RMB 7,783.18 million in R&D in 2024, accounting for 15.95% of its revenue, with cumulative R&D investment over the past three years totaling RMB 22,054.67 million, representing 15.28% of total revenue during that period [51]. - The company has developed 44 categories of chip testing solutions and completed mass production testing for thousands of chip models, accumulating a vast database of over 100 billion testing data points [51]. - The company has established a comprehensive R&D center focusing on integrated circuit testing, continuously improving testing solutions and developing core technologies to enhance testing accuracy and efficiency [101]. - The company has received 15 new invention patents and 29 utility model patents during the reporting period, bringing the total to 111 and 268 respectively, showcasing its commitment to innovation [103]. Market and Growth Strategy - The company plans to roll over the undistributed profits to the next fiscal year to support stable development [6]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year [19]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% to 1.44 billion RMB [19]. - The company is focusing on high-end integrated circuit testing and wafer thinning technologies, aiming to improve product quality and reduce costs [43]. - The company aims to enhance its core competitiveness through management efficiency, risk control capabilities, and capacity building, focusing on high-reliability testing for GPUs, CPUs, AI, and automotive chips [52]. Operational Efficiency - The operating expenses were reduced by 10%, reflecting improved operational efficiency [19]. - The gross margin improved to 40%, up from 35% in the previous year, indicating better cost management [19]. - The company is implementing a precise capacity allocation model driven by project determination and market demand starting in 2024 [39]. - The company is enhancing supply chain management by establishing a dynamic price monitoring mechanism and improving inventory management [46]. Risks and Challenges - The company faces risks related to potential significant declines in performance due to external factors such as international politics and macroeconomic conditions, which could adversely affect market demand [126]. - The company is at risk of losing key R&D personnel, which could significantly impact its operational capabilities and competitive edge in the rapidly evolving semiconductor industry [128]. - The company is exposed to risks from potential changes in tax policies that could affect its net profit, particularly if it fails to maintain its high-tech enterprise status [141]. - The company is vulnerable to cyclical fluctuations in the integrated circuit industry, which could negatively impact its business performance during industry downturns [144]. Customer and Market Relationships - The company maintains long-term partnerships with chip design firms, developing testing solutions in tandem with product updates and technological advancements [85]. - The marketing team has expanded its network by adding 25 new strategic partners, enhancing overall marketing capabilities and customer satisfaction [54]. - The company emphasizes customer resource management and interaction, which enhances customer loyalty and supports sustainable business growth [116]. Investment and Financial Management - The company raised a net amount of RMB 51,288.91 million from the issuance of convertible bonds after deducting issuance costs of RMB 711.09 million [4]. - The company has established five testing technology service production bases in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region to enhance service capabilities and meet customer demands [53]. - The company has made a capital increase of ¥32,925.71 million to its wholly-owned subsidiary Dongguan Liyang to support operational needs [186].