Financial Performance - The company's operating revenue for Q1 2025 was ¥102,461,202.49, a decrease of 28.28% compared to ¥142,862,664.59 in the same period last year[4] - The net loss attributable to shareholders was ¥18,009,763.16, an improvement from a loss of ¥22,491,397.62 in the previous year[4] - The basic and diluted earnings per share were both -¥0.09, compared to -¥0.11 in the same period last year[4] - The net profit for Q1 2025 was -18,128,942.99 CNY, an improvement from -22,492,132.94 CNY in Q1 2024, representing a 19.5% reduction in losses[21] - The total comprehensive loss for Q1 2025 was -18,128,942.99 CNY, compared to -22,605,246.04 CNY in Q1 2024, reflecting a 19.5% improvement[22] Cash Flow and Liquidity - The net cash flow from operating activities was -¥40,363,683.28, worsening from -¥29,377,206.30 year-on-year[4] - Operating cash flow for Q1 2025 was -40,363,683.28 CNY, compared to -29,377,206.30 CNY in Q1 2024, indicating a 37.5% increase in cash outflow[25] - Cash and cash equivalents decreased to CNY 47,244,196.54 from CNY 61,945,495.51, a decline of 23.8%[13] - Cash and cash equivalents at the end of Q1 2025 were 47,244,196.54 CNY, down from 61,945,495.51 CNY at the beginning of the period, a decrease of 23.8%[27] - The cash flow from financing activities in Q1 2025 was 26,254,412.52 CNY, an increase of 37.9% compared to 19,044,711.65 CNY in Q1 2024[27] - The company recorded a cash outflow of 124,272,218.10 CNY from operating activities in Q1 2025, down from 201,360,174.93 CNY in Q1 2024, indicating a 38.3% reduction[25] - The investment activities generated a net cash outflow of -585,333.12 CNY in Q1 2025, compared to -6,162,815.38 CNY in Q1 2024, showing a significant improvement[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,294,170,057.82, a slight decrease of 0.63% from ¥1,302,416,813.07 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 1,294,170,057.82, slightly down from CNY 1,302,416,813.07 at the end of 2024[17] - Total liabilities increased to CNY 841,377,578.17 from CNY 833,929,491.43, an increase of 0.5%[16] - Shareholders' equity attributable to shareholders was ¥449,851,154.20, down 3.35% from ¥465,426,816.36 at the end of the previous year[5] Revenue and Costs - Total operating revenue for Q1 2025 was CNY 102,461,202.49, a decrease of 28.3% compared to CNY 142,862,664.59 in Q1 2024[20] - Total operating costs for Q1 2025 were CNY 124,690,582.63, down 29.3% from CNY 176,222,760.85 in Q1 2024[20] - Gross profit for Q1 2025 was CNY -22,229,380.14, indicating a loss compared to a profit in the same period last year[20] - Total revenue from sales in Q1 2025 was 83,298,183.79 CNY, down 50% from 166,683,509.05 CNY in Q1 2024[24] Shareholder Information - The total number of common shareholders at the end of the reporting period was 20,029[9] - The largest shareholder, Wang Zhuangpeng, holds 20.88% of the shares, with 32,860,000 shares pledged[10] Other Financial Metrics - The weighted average return on equity decreased to -3.93% from -3.47% year-on-year, a decline of 0.46 percentage points[5] - The company reported non-recurring gains and losses totaling ¥176,941.35 for the period[7] - The company incurred interest expenses of 6,282,742.95 CNY in Q1 2025, a decrease of 10.7% from 7,034,955.86 CNY in Q1 2024[21] - Accounts receivable decreased to CNY 9,912,302.93 from CNY 10,344,380.35, a reduction of 4.2%[13] - Inventory increased significantly to CNY 99,015,172.02 from CNY 76,976,710.68, an increase of 28.5%[15] - Long-term investments increased to CNY 56,585,385.22 from CNY 54,897,209.94, a growth of 3.1%[15]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 371,337,001.15, representing a 53.20% increase compared to CNY 242,381,338.72 in the same period last year[4] - Net profit attributable to shareholders was CNY 28,337,366.79, a significant recovery from a loss of CNY 18,760,264.49 in the previous year[4] - Basic and diluted earnings per share were both CNY 0.08, compared to a loss of CNY -0.06 per share in the previous year[4] - Operating profit for Q1 2025 was CNY 29,145,513.19, compared to an operating loss of CNY 23,933,350.40 in the same period last year[18] - Total revenue from sales of goods and services reached CNY 387,620,432.28 in Q1 2025, up from CNY 220,316,988.12 in Q1 2024, indicating a growth of approximately 75.9%[21] - The company recorded a total comprehensive income of CNY 28,335,810.54 in Q1 2025, compared to a total comprehensive loss of CNY 19,094,018.29 in Q1 2024[19] Cash Flow and Expenses - The net cash flow from operating activities reached CNY 20,803,795.95, a turnaround from a negative cash flow of CNY -154,780,354.36 in the same period last year[4] - The company achieved a net cash flow from operating activities of CNY 20,803,795.95 in Q1 2025, a turnaround from a negative cash flow of CNY 154,780,354.36 in Q1 2024[22] - The company incurred financial expenses of CNY -7,178,312.74 in Q1 2025, a notable improvement from CNY 780,004.43 in Q1 2024[18] - Investment activities resulted in a net cash outflow of CNY -22,910,695.78 in Q1 2025, contrasting with a net inflow of CNY 178,821,438.85 in Q1 2024[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,273,164,093.77, a slight decrease of 0.45% from CNY 2,283,546,377.34 at the end of the previous year[5] - Total liabilities decreased to ¥335,979,740.22 as of March 31, 2025, down from ¥375,259,916.58 at the end of 2024, a reduction of 10.4%[15] - The company's total assets as of March 31, 2025, were ¥2,273,164,093.77, down from ¥2,283,546,377.34 at the end of 2024, a decrease of 0.5%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,393[9] - Major shareholder Ma Jun holds 24.27% of the shares, with a total of 83,242,100 shares[9] Operating Costs - The company reported a 53.91% increase in operating costs, primarily due to the rise in operating revenue[8] - Total operating costs for Q1 2025 were ¥333,232,644.17, up from ¥264,011,282.45 in Q1 2024, reflecting an increase of 26.3%[17] - Operating costs included ¥219,183,986.91 in cost of goods sold for Q1 2025, compared to ¥142,406,358.70 in Q1 2024, marking a rise of 54.0%[17] Current Assets - As of March 31, 2025, total current assets amounted to ¥2,077,000,204.98, slightly up from ¥2,074,626,427.89 at the end of 2024[13] - The company's cash and cash equivalents were ¥148,348,631.84 as of March 31, 2025, down from ¥159,815,667.98 at the end of 2024, a decrease of 7.8%[12] - Inventory as of March 31, 2025, was ¥1,694,772,887.04, a slight decrease from ¥1,700,659,075.62 at the end of 2024, reflecting a decline of 0.3%[13] Research and Development - Research and development expenses decreased to CNY 244,035.63 in Q1 2025 from CNY 312,845.35 in Q1 2024, reflecting a reduction of about 22%[18] Future Outlook - The net profit for Q1 2025 will be reported in the upcoming financial disclosures, with expectations of continued growth based on current trends[16] - The company is actively monitoring the ongoing share transfer agreement and potential risks associated with payment completion, which may impact future financial stability[11] Return on Equity - The weighted average return on equity improved to 1.47%, an increase of 2.36 percentage points from -0.89% in the previous year[4]

Financial Performance - The company's revenue for Q1 2025 was CNY 686.93 million, representing a year-on-year increase of 6.13% compared to CNY 647.23 million in the same period last year[5]. - Net profit attributable to shareholders decreased by 61.55% to CNY 24.73 million from CNY 64.33 million year-on-year[5]. - Total operating revenue for the current period reached ¥686,928,164.92, an increase of 6.1% compared to ¥647,229,057.46 in the previous period[21]. - Net profit for the current period was ¥17,149,804.60, a decrease of 74.0% from ¥65,930,939.61 in the previous period[22]. - The profit attributable to the parent company's shareholders was ¥24,731,523.19, down from ¥64,327,510.75, representing a decline of 61.6%[22]. - Total comprehensive income for the period was CNY 14,432,666.35, a decrease from CNY 64,043,153.93 in the previous period[23]. - Basic and diluted earnings per share were both CNY 0.0300, down from CNY 0.0780 in the previous period[23]. Cash Flow and Financial Position - The net cash flow from operating activities increased significantly by 168.98%, reaching CNY 114.04 million, compared to a negative cash flow of CNY 165.32 million in the previous year[5]. - Net cash flow from operating activities was CNY 114,036,490.30, a significant improvement from a negative CNY 165,318,835.72 in the previous period[25]. - Cash inflow from investment activities totaled CNY 244,977,797.84, compared to CNY 55,664,969.52 in the previous period[25]. - Net cash flow from financing activities was negative CNY 105,346,407.51, a decline from a positive CNY 577,121,865.51 in the previous period[25]. - The ending balance of cash and cash equivalents was CNY 670,718,795.06, slightly up from CNY 668,932,589.63 in the previous period[25]. - The company’s cash and cash equivalents decreased from 755,972,381.28 CNY to 697,376,537.69 CNY, reflecting a decline of approximately 7.5%[17]. - The company reported a total cash outflow from operating activities of CNY 591,630,360.78, down from CNY 824,778,062.09 in the previous period[25]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 8.69 billion, a 0.61% increase from CNY 8.63 billion at the end of the previous year[5]. - Total assets increased to ¥8,686,979,590.40 from ¥8,634,677,996.44, showing a growth of 0.6%[19]. - Total liabilities rose to ¥3,287,098,674.03, slightly up from ¥3,263,210,041.55, indicating an increase of 0.7%[19]. - Current liabilities decreased to ¥1,542,348,228.08 from ¥1,753,956,120.72, a reduction of 12.0%[19]. - Non-current liabilities increased to ¥1,744,750,445.95 from ¥1,509,253,920.83, reflecting a rise of 15.6%[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,576, with no preferred shareholders[12]. - The company reported a total of 27,654,757 shares held by PACIFIC RAINBOW INTERNATIONAL, accounting for 3.35% of total shares[14]. - The top ten unrestricted shareholders collectively hold 124,888,049 shares, with Yantai Dongyi Biological Engineering Co., Ltd. being the largest shareholder[14]. Operational Segments - The sales revenue from the raw material drug segment was CNY 321.50 million, up 11.10% year-on-year, primarily due to increased sales of heparin products[9]. - The sales revenue from the formulation segment decreased by 6.78% to CNY 86.63 million, while the nuclear medicine segment saw a slight decline of 0.63% to CNY 231.20 million[13]. Expenses and Financial Management - The company reported a significant increase in financial expenses by 536.48%, attributed to increased interest expenses from equity financing repurchase and reduced exchange gains[13]. - Research and development expenses were ¥44,008,471.83, slightly down from ¥45,209,265.30, a decrease of 2.7%[22]. - The company paid CNY 168,579,902.52 to employees, an increase from CNY 152,583,106.37 in the previous period[25]. - The company experienced a 271.36% increase in credit impairment losses, primarily due to provisions for bad debts on receivables[13]. Future Outlook - The company is currently exploring market expansion opportunities and new product development strategies[15].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 878.51 million, a decrease of 0.99% compared to CNY 887.27 million in the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 4.25 million, an improvement of 94.65% from a loss of CNY 79.43 million year-on-year[4]. - The basic earnings per share improved by 91.67% to CNY -0.01 from CNY -0.12 in the same period last year[4]. - Comprehensive income for Q1 2025 totaled ¥100,497,824.41, a significant recovery from -¥180,347,992.06 in Q1 2024[19]. - Total operating revenue for Q1 2025 was ¥878,512,429.39, a decrease of 1% compared to ¥887,272,891.21 in Q1 2024[18]. - Total operating costs for Q1 2025 were ¥908,339,430.40, down 5.5% from ¥961,791,023.85 in Q1 2024[18]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 31.07% to CNY 68.60 million, down from CNY 99.52 million in the previous year[4]. - Cash flow from operating activities for Q1 2025 was ¥68,600,325.55, down from ¥99,517,606.82 in Q1 2024[21]. - Cash and cash equivalents at the end of Q1 2025 were ¥848,475,632.72, a decrease from ¥1,083,289,280.97 at the end of Q1 2024[23]. - The company reported a net cash outflow from financing activities of -¥147,799,561.14 in Q1 2025, compared to an inflow of ¥322,639,716.64 in Q1 2024[23]. Assets and Liabilities - The total assets increased by 4.30% to CNY 6.84 billion, compared to CNY 6.56 billion at the end of the previous year[5]. - The company's total liabilities reached RMB 4,518,138,470.97, up from RMB 4,336,967,539.30, representing an increase of approximately 4.2%[15]. - The company's current assets totaled RMB 2,146,223,794.01, compared to RMB 2,059,697,516.67 at the end of 2024, indicating a slight increase of about 4.2%[13]. - The company's cash and cash equivalents were RMB 850,217,548.54, down from RMB 886,367,595.43, showing a decrease of about 4.1%[13]. - The accounts receivable increased to RMB 511,534,311.23 from RMB 426,666,889.32, marking a growth of approximately 19.8%[13]. - The company's inventory stood at RMB 603,194,127.37, compared to RMB 585,264,214.24, reflecting an increase of about 3%[13]. - The company's total equity attributable to shareholders was RMB 2,193,132,013.04, an increase from RMB 2,099,179,363.30, representing a growth of about 4.5%[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,801[9]. - The top two shareholders, Zhao Ruihai and Zhao Ruibin, hold 18.66% and 18.27% of the shares, respectively, with significant portions pledged[9]. Investment and Expenses - The company reported a significant increase in investment income by 76.05%, attributed to foreign exchange fluctuations affecting forward contract gains[7]. - Research and development expenses for Q1 2025 were ¥16,133,523.47, slightly down from ¥16,271,762.43 in Q1 2024[18]. Other Financial Metrics - The weighted average return on equity was -0.20%, down from 3.65% in the previous year[4]. - The company experienced a foreign exchange gain of ¥41,835,201.26 in Q1 2025, contrasting with a loss of -¥36,794,211.14 in Q1 2024[23]. - The long-term equity investments decreased to RMB 1,274,844.66 from RMB 1,524,500.47, indicating a decline of approximately 16.3%[14]. - The company reported a significant increase in short-term borrowings, which rose to RMB 389,792,115.78 from RMB 357,024,598.53, reflecting an increase of approximately 9.3%[15]. - The company's non-current liabilities decreased to RMB 1,569,241,636.69 from RMB 2,400,950,247.06, indicating a reduction of about 34.7%[15].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 619,301,716.33, representing a 13.40% increase compared to CNY 546,141,427.38 in the same period last year[4] - Net profit attributable to shareholders for Q1 2025 was CNY 104,057,343.33, a 30.42% increase from CNY 79,785,993.27 year-on-year[4] - Basic earnings per share for Q1 2025 increased by 18.29% to CNY 0.1623, up from CNY 0.1372 in the same period last year[4] - Operating profit for Q1 2025 was ¥122,447,487.00, representing a 31.43% increase from ¥93,190,114.31 in Q1 2024[15] - Net profit for Q1 2025 was ¥122,479,678.28, compared to ¥93,233,695.97 in Q1 2024, indicating a growth of 31.43%[15] - The company reported a significant increase in net profit due to revenue growth, increased gross profit, and gains from the disposal of long-term equity investments[6] Cash Flow - The net cash flow from operating activities was negative at CNY -119,215,080.81, a significant decrease of 190.35% compared to CNY 131,943,643.03 in the previous year[4] - Cash flow from operating activities for Q1 2025 was negative at CNY -119,215,080.81, compared to a positive CNY 131,943,643.03 in Q1 2024[19] - The company reported a net cash outflow from investing activities of CNY -182,125,454.53 in Q1 2025, compared to CNY -175,896,769.24 in Q1 2024[20] - The net cash flow from investment activities was -136,599,996.23 RMB in Q1 2025, compared to -195,582,970.41 RMB in Q1 2024, indicating an improvement[29] - Cash inflow from financing activities in Q1 2025 was CNY 436,401,451.32, significantly higher than CNY 65,398,567.04 in Q1 2024[20] - The net cash flow from financing activities was 91,225,247.70 RMB in Q1 2025, contrasting with -43,876,787.20 RMB in Q1 2024, showing a positive shift[29] Assets and Liabilities - Total assets at the end of Q1 2025 were CNY 6,445,056,301.70, reflecting a 3.58% increase from CNY 6,222,431,397.56 at the end of the previous year[5] - Total current assets as of March 31, 2025, amounted to ¥2,349,682,968.16, an increase from ¥2,277,731,032.10 as of December 31, 2024[11] - Total non-current assets increased to ¥4,095,373,333.54 as of March 31, 2025, compared to ¥3,944,700,365.46 at the end of 2024[11] - Total liabilities as of March 31, 2025, were ¥3,312,296,290.93, compared to ¥3,195,348,166.29 at the end of 2024[12] - Total liabilities increased to ¥1,385,773,414.65 from ¥1,250,066,738.97, an increase of 10.8%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,613, with the largest shareholder holding 16.47% of the shares[8] - The equity attributable to shareholders increased by 3.51% to CNY 3,130,388,885.54 compared to CNY 3,024,353,306.83 at the end of the previous year[5] - Shareholders' equity increased to ¥3,132,760,010.77 as of March 31, 2025, from ¥3,027,083,231.27 at the end of 2024[12] Research and Development - Research and development expenses for Q1 2025 were ¥3,367,326.17, slightly higher than ¥3,223,878.11 in Q1 2024, indicating a focus on innovation[25] Accounting Standards - The company has not adopted new accounting standards starting from 2025, maintaining consistency in financial reporting[30]

Financial Performance - The company's operating revenue for 2024 reached ¥6,377,096,859.41, an increase of 8.80% compared to ¥5,861,303,565.61 in 2023[23]. - Net profit attributable to shareholders was ¥802,180,217.96, reflecting a growth of 22.66% from ¥653,978,430.10 in the previous year[23]. - The basic earnings per share increased to ¥0.49, up 22.50% from ¥0.40 in 2023[24]. - The net cash flow from operating activities surged by 55.64% to ¥971,868,076.32, compared to ¥624,421,448.38 in 2023[23]. - The total assets at the end of 2024 were ¥7,372,560,133.03, a 6.46% increase from ¥6,925,186,608.83 in 2023[23]. - The weighted average return on equity rose to 17.35%, an increase of 2.30 percentage points from 15.05% in 2023[24]. - The company achieved a revenue of RMB 6.377 billion, representing an 8.80% increase year-over-year[31]. - The net profit attributable to shareholders was RMB 802 million, reflecting a year-over-year growth of 22.66%[31]. - The net profit excluding non-recurring gains and losses was RMB 797 million, up 17.33% compared to the previous year[31]. Shareholder Returns - The company plans to distribute cash dividends of RMB 3.50 per 10 shares (including tax), totaling approximately RMB 578.46 million based on a total share capital of 1,652,756,249 shares as of December 31, 2024[6]. - The company will also issue 3 bonus shares for every 10 shares held, amounting to a total of 495,826,875 bonus shares[6]. - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares, along with a stock dividend of 3 shares for every 10 shares held[174]. - The company has accumulated a total cash dividend of 1,557,874,902.45 RMB over the last three accounting years, with an average annual net profit of 675,323,395.04 RMB, resulting in a cash dividend ratio of 230.69%[125]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible executives[5]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has implemented strict compliance with information disclosure obligations as per relevant regulations, ensuring timely and accurate reporting[95]. - The company has not faced any penalties from securities regulatory authorities in the past three years[105]. - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[128]. Risk Management - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section[9]. - The company recognizes the risk of price volatility in key raw materials, which could affect its operational costs and profitability[87]. - The automotive industry is facing cyclical risks due to macroeconomic fluctuations, which could impact the company's order volume and inventory management[87]. - The company emphasizes strict quality control throughout the production process, but faces potential liability risks if product defects lead to recalls[89]. Research and Development - The company has invested in research and development, maintaining a leading position in technology and product quality, which has contributed to its high market recognition[43]. - The company’s R&D expenses totaled RMB 219.49 million, accounting for 3.44% of operating revenue, with no capitalized R&D expenditures[61]. - The number of R&D personnel is 997, accounting for 9.59% of the total workforce[62]. - The company has developed a new sun visor light switch structure, which has been patented and widely applied in Volkswagen models, showcasing its commitment to innovation[44]. Market Position and Strategy - The company operates in the automotive interior parts sector, focusing on R&D, production, and sales of components like headliners and seat systems[35]. - The company has established partnerships with major global automakers, including Tesla, BMW, and Ford, enhancing its market position[35]. - The company continues to optimize its global production capacity and logistics operations to improve competitiveness amid market fluctuations[31]. - The company has established a strong global customer base, supplying parts to major automotive manufacturers such as Bentley, Porsche, Mercedes-Benz, BMW, and Tesla, among others[43]. - The company is focusing on enhancing its market presence and exploring new strategies for expansion, although specific details were not disclosed in the meeting[95]. Corporate Governance - The company adheres to corporate governance standards, ensuring compliance with laws and regulations, and maintaining transparency for shareholders[93]. - The board of directors operates in accordance with established rules, ensuring responsible decision-making and protecting shareholder interests[94]. - The company has established a dedicated department for investor relations to enhance communication with minority shareholders and ensure their rights are protected[95]. - The company has established a series of internal control systems to enhance governance and risk management for subsidiaries, ensuring good control status as of the reporting period[127]. Environmental Responsibility - The company has implemented comprehensive environmental protection measures, including waste management and pollution control systems, to comply with environmental standards[131]. - The company has adopted measures to reduce carbon emissions, including energy-saving equipment upgrades, although specific CO2 equivalent reductions were not disclosed[134]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[131]. Investment and Financing - The total amount of raised funds is 907.94 million RMB, with a net amount of 896.99 million RMB after deductions[162]. - The company has invested a total of 487.77 million RMB from the raised funds, achieving a cumulative investment progress of 54.38%[165]. - The company has temporarily used 100 million RMB of idle raised funds to supplement working capital, with a usage period not exceeding 12 months[167]. - The company has a cash management authorization of up to 300 million RMB, with a balance of 70 million RMB as of the end of the reporting period[169]. Share Capital and Ownership - The total share capital increased from 1,271,349,212 shares to 1,652,756,249 shares due to the issuance of new shares and stock dividends[174]. - The largest shareholder, Daimai Investment, holds 931,693,389 shares, representing 56.37% of total shares[180]. - The company has not reported any changes in the status of restricted shares or any new strategies related to market expansion or acquisitions[177]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[184].

Financial Performance - The company's operating revenue for 2024 was approximately ¥3.55 billion, a decrease of 11.81% compared to ¥4.03 billion in 2023[25]. - The net profit attributable to shareholders was approximately -¥162.77 million, an improvement of 46.49% from -¥304.18 million in the previous year[25]. - The net cash flow from operating activities was approximately ¥585.98 million, down 24.20% from ¥773.09 million in 2023[25]. - Total assets at the end of 2024 were approximately ¥6.56 billion, a decrease of 5.75% from ¥6.96 billion at the end of 2023[25]. - The net assets attributable to shareholders increased by 10.43% to approximately ¥2.10 billion from ¥1.90 billion in 2023[25]. - Basic earnings per share decreased to -0.24 CNY, a 53.85% improvement compared to -0.52 CNY in the same period last year[26]. - Net profit attributable to shareholders increased by 46.49% year-on-year, primarily due to a decrease in labor and raw material costs[27]. - Operating cash flow decreased by 24.20% year-on-year, mainly due to a reduction in cash received from sales of goods and services[27]. - The net profit after deducting non-recurring gains and losses increased by 43.69% year-on-year, driven by the rise in net profit attributable to shareholders[27]. - The company reported a net profit of -79,428,144.23 CNY in the first quarter, with a gradual improvement in subsequent quarters[30]. Revenue and Sales - The company reported a decrease in revenue from non-core business activities, with a total of approximately ¥3.48 billion, down 12.08% from ¥3.96 billion in 2023[25]. - Revenue for the reporting period decreased by 11.81% year-on-year, attributed to a downturn in demand in the furniture industry[26]. - The total revenue from all sales channels decreased by 12.08% to ¥3,481,751,069.81, with a gross margin of 35.57%[97]. - The revenue from the domestic distribution model was CNY 554,509,049.09, with a gross margin of 25.74%, reflecting a year-over-year decrease of 23.99%[72]. - Custom furniture revenue was CNY 557,589,571.50, down 14.40% year-over-year, with a gross margin of 34.05%[71]. - The revenue from Ekornes products was CNY 2,531,123,970.34, with a gross margin of 37.98%, showing a year-over-year decrease of 9.65%[71]. Operational Efficiency - The company improved its operational efficiency, resulting in a decrease in office, management, and operational costs compared to 2023[43]. - The company's operating costs decreased by 16.51% to 2.302 billion RMB, primarily due to lower labor and raw material costs[68]. - The company has a production cycle of 12 days for panel finished products and 22-25 days for solid wood finished products, utilizing an ERP system for flexible production management[53]. - The company has a robust supply chain system, leveraging Ekornes' global resources to optimize raw material procurement and reduce costs[65]. Strategic Initiatives - The company has established a strategic partnership with major real estate developers to provide furniture solutions for furnished apartments, enhancing its market presence[56]. - The company aims to capture the growing demand in the second-hand housing market, which is expected to drive furniture sales through integrated supply chain services[101]. - The company plans to enhance its online brand presence through new media platforms, aiming to increase natural traffic and brand exposure[106]. - The company is committed to product innovation, with plans to launch new product lines to drive sales growth[106]. Environmental Commitment - The company has been recognized for its commitment to environmental standards, being the first in the industry to use water-based paint across all products[63]. - The company has implemented a green supply chain management system, ensuring compliance with higher environmental standards than national regulations[160]. - The company has successfully implemented water-based paint technology, significantly reducing volatile organic compound emissions[157]. - The company has established a dedicated energy and environmental management department to oversee green initiatives throughout the product lifecycle[160]. Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with laws and regulations, and enhancing investor relations management[113]. - The board of directors consists of 10 members, including 4 independent directors, meeting legal requirements for governance structure[113]. - The company maintains a robust information disclosure system to enhance transparency and protect investor rights[114]. - There are no significant discrepancies between the company's governance practices and regulatory requirements, ensuring compliance and operational independence[114]. Shareholder and Financial Management - The company plans to repurchase shares through centralized bidding as approved in the first extraordinary general meeting of 2024[115]. - The company’s total remuneration for the chairman and general manager, Zhao Ruihai, was 82.40 million yuan during the reporting period[116]. - The company has a cash dividend policy that mandates at least 20% of the distributable profit to be distributed in cash, barring special circumstances[141]. - The company has committed to repay the non-operating funds, with expected repayment amounts and dates specified for each related party[175]. Risks and Challenges - The company faces risks from rising raw material costs, which significantly impact production costs due to the high proportion of direct materials in overall expenses[108]. - Labor costs are increasing due to tightening human resources, which may affect the company's operating performance and profitability if the trend continues[108]. - The furniture industry is experiencing intensified competition, with many companies accelerating capacity investment and store openings, leading to a potential decline in profitability for distributors[108]. - The company is exposed to tariff risks, particularly from the U.S. imposing high tariffs that could increase global trade costs and create barriers to business development[110].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 297,367,393.83, a decrease of 28.59% compared to CNY 416,417,220.05 in the same period last year[6]. - Net profit attributable to shareholders was CNY 32,794,692.78, down 32.73% from CNY 48,753,926.16 year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 31,845,371.81, reflecting a significant decline of 51.76% from CNY 66,019,271.25 in the previous year[6]. - The basic earnings per share decreased to CNY 0.08, down 33.33% from CNY 0.12 in the same period last year[6]. - Operating profit for Q1 2025 was ¥36.17 million, a decrease of 37.7% compared to ¥58.07 million in Q1 2024[21]. - Total operating revenue for Q1 2025 was ¥297.37 million, a decrease of 28.6% compared to ¥416.42 million in Q1 2024[21]. - Net profit for Q1 2025 was ¥32.79 million, a decline of 32.7% from ¥48.75 million in Q1 2024[22]. - Basic earnings per share for Q1 2025 were ¥0.08, compared to ¥0.12 in Q1 2024[22]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 36,233,432.29, a decrease of 18.17% compared to CNY 44,280,099.84 in the same period last year[6]. - Cash flow from operating activities for Q1 2025 was ¥36.23 million, down 18.1% from ¥44.28 million in Q1 2024[24]. - Cash flow from investing activities for Q1 2025 was -¥147.47 million, compared to -¥21.08 million in Q1 2024[25]. - Cash flow from financing activities for Q1 2025 was -¥127.66 million, a significant increase from -¥40.00 million in Q1 2024[25]. - The ending cash and cash equivalents balance for Q1 2025 was ¥829.12 million, down from ¥990.08 million in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,770,520,758.85, down 3.95% from CNY 2,884,489,843.36 at the end of the previous year[7]. - As of March 31, 2025, the total assets of Chongqing Qin'an Electromechanical Co., Ltd. amounted to RMB 2,770,520,758.85, a decrease from RMB 2,884,489,843.36 as of December 31, 2024, reflecting a decline of approximately 3.93%[16]. - The company's total liabilities decreased from RMB 500,377,981.38 on December 31, 2024, to RMB 343,096,818.33 on March 31, 2025, representing a reduction of about 31.5%[17]. - The total current liabilities decreased from RMB 482,079,331.06 on December 31, 2024, to RMB 330,035,601.09 on March 31, 2025, a reduction of about 31.5%[17]. - Cash and cash equivalents decreased from RMB 1,082,660,246.99 on December 31, 2024, to RMB 958,620,941.14 on March 31, 2025, a decline of about 11.5%[15]. - Accounts receivable rose from RMB 339,948,109.25 as of December 31, 2024, to RMB 234,326,714.34 as of March 31, 2025, indicating a decrease of approximately 31.1%[15]. - Inventory increased from RMB 224,733,521.52 on December 31, 2024, to RMB 264,076,819.90 on March 31, 2025, reflecting an increase of about 17.5%[15]. - The company's short-term borrowings slightly increased from RMB 14,710,000.00 on December 31, 2024, to RMB 15,383,090.00 on March 31, 2025, an increase of approximately 4.6%[17]. - The company reported a decrease in other payables from RMB 136,654,683.62 on December 31, 2024, to RMB 7,898,972.14 on March 31, 2025, indicating a significant decline of approximately 94.2%[17]. Market Conditions - The average procurement price of aluminum increased by 4.87% year-on-year to CNY 17.73 per kg, while the average procurement price of copper rose by 11.29% to CNY 68.85 per kg[9]. - The company experienced a decrease in sales volume due to intensified industry competition, leading to a significant drop in revenue and profit margins[9]. Equity and Expenditure - The total equity attributable to shareholders increased from RMB 2,384,111,861.98 as of December 31, 2024, to RMB 2,427,423,940.52 as of March 31, 2025, marking an increase of approximately 1.8%[17]. - The company’s development expenditure increased from RMB 72,409,503.59 on December 31, 2024, to RMB 76,772,406.26 on March 31, 2025, reflecting an increase of about 6%[16]. - Other comprehensive income after tax for Q1 2025 was ¥295,591.75, compared to a loss of ¥54,975.00 in Q1 2024[22].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 324,246,660.96, representing a year-on-year increase of 12.53% compared to CNY 288,147,713.92 in the same period last year[5]. - Net profit attributable to shareholders of the listed company reached CNY 49,905,646.58, a significant increase of 71.50% from CNY 29,099,530.45 in the previous year[5]. - Basic earnings per share rose to CNY 0.11, an increase of 83.33% from CNY 0.06 in the previous year[5]. - Net profit for Q1 2025 was CNY 52,464,527.81, representing a 74.66% increase from CNY 30,013,417.31 in Q1 2024[18]. - Total comprehensive income for Q1 2025 was CNY 52,464,527.81, up from CNY 30,013,417.31 in Q1 2024[18]. Cash Flow - The net cash flow from operating activities was CNY 29,828,001.99, showing a remarkable increase of 162.12% compared to CNY 11,379,408.39 in the same period last year[5]. - Cash flow from operating activities for Q1 2025 was CNY 29,828,001.99, significantly higher than CNY 11,379,408.39 in Q1 2024[20]. - Net cash flow from investment activities was -$660.59 million, compared to -$207.71 million in the previous period[21]. - Cash inflow from financing activities totaled $1.36 billion, up from $291.64 million year-over-year[21]. - The net increase in cash and cash equivalents was $68.96 million, contrasting with a decrease of $100.37 million in the prior year[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,628,347,383.72, reflecting a year-on-year growth of 15.36% from CNY 6,612,424,832.88[6]. - Current assets amounted to RMB 2,386,444,163.70, up from RMB 1,807,426,579.99, indicating a rise of about 32.0%[14]. - Total liabilities increased to RMB 4,595,097,380.86 from RMB 3,631,789,095.23, which is an increase of approximately 26.5%[15]. - The company's equity remained stable at RMB 1,033,249,002.86, unchanged from the previous period[15]. - Non-current assets totaled RMB 5,241,903,220.02, up from RMB 4,804,998,252.89, indicating a growth of approximately 9.1%[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,849[9]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[12]. Future Plans - The company plans to continue expanding its market presence and enhancing its operational efficiency in the upcoming quarters[1]. - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[21]. Other Financial Metrics - The weighted average return on net assets increased to 1.80%, up by 0.67 percentage points from 1.13% in the previous year[5]. - The net profit after deducting non-recurring gains and losses was CNY 35,497,214.64, which is a 27.56% increase from CNY 27,828,398.69 in the same period last year[5]. - The company recorded a non-recurring gain of CNY 14,408,431.94, primarily due to the recovery of historical receivables and other factors[8]. - Research and development expenses for Q1 2025 were CNY 334,280.76, a decrease from CNY 422,240.60 in Q1 2024[17]. - The company reported a significant increase in investment income, reaching CNY 222,164.66 in Q1 2025 compared to CNY 481,149.12 in Q1 2024[18].

Financial Performance - The company's operating revenue for Q1 2025 was ¥574,701,113.35, representing a year-on-year increase of 12.89% compared to ¥509,059,504.38 in the same period last year[4] - The net profit attributable to shareholders was ¥23,049,475.53, a significant recovery from a loss of ¥13,714,459.90 in the previous year[4] - The basic earnings per share increased to ¥0.06 from a loss of ¥0.04 in the same period last year[4] - Operating profit for Q1 2025 was ¥23,844,568.95, a significant recovery from a loss of ¥13,894,670.14 in Q1 2024[23] - Net profit for Q1 2025 was ¥22,337,315.48, compared to a net loss of ¥13,996,526.95 in Q1 2024, indicating a turnaround in profitability[24] Cash Flow - The net cash flow from operating activities was negative at -¥11,160,353.31, a decline of 545.14% compared to a positive cash flow of ¥2,507,177.82 in the previous year[4] - In Q1 2025, the cash inflow from operating activities totaled $636,954,301.81, an increase of 7.4% compared to $592,784,305.24 in Q1 2024[27] - The cash outflow for operating activities was $648,114,655.12 in Q1 2025, compared to $590,277,127.42 in Q1 2024, marking an increase of 9.8%[27] - Cash inflow from investment activities amounted to $108,859,325.96 in Q1 2025, significantly higher than $58,190,958.06 in Q1 2024, representing an increase of 86.7%[28] - The net cash flow from investment activities was $27,726,767.57 in Q1 2025, compared to $627,388.45 in Q1 2024, indicating a substantial improvement[28] - Cash inflow from financing activities was $87,463,240.84 in Q1 2025, down from $151,000,000.00 in Q1 2024, reflecting a decrease of 42.2%[28] - The net cash flow from financing activities was negative at -$102,155,352.81 in Q1 2025, contrasting with a positive $130,223,032.63 in Q1 2024[28] - The ending cash and cash equivalents balance decreased to $126,028,375.76 in Q1 2025 from $493,436,631.72 in Q1 2024, a decline of 74.5%[28] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,539,594,972.06, down 4.69% from ¥2,664,530,136.18 at the end of the previous year[5] - Total liabilities decreased to ¥623,486,865.34 from ¥770,952,993.38, representing a reduction of 19.2%[20] - The company's equity increased to ¥1,916,108,106.72 from ¥1,893,577,142.80, reflecting a growth of 1.2%[20] Operational Metrics - The gross profit margin for the overall business improved by 0.77 percentage points compared to the previous year, reaching 49.37%[16] - Online sales accounted for 57.85% of total revenue, with a gross margin of 32.16%, while offline sales contributed 42.15% with a gross margin of 72.99%[16] - The revenue from the JUZUI brand was RMB 16,044.65 million, with a gross profit margin of 68.55%, showing a decrease of 2.69 percentage points year-on-year[12] - The company reported a significant increase in revenue from the Northeast region, which rose by 48.02% year-on-year[17] - The overall operating costs increased by 12.38% year-on-year, reflecting the company's investment in growth strategies[12] - Total operating costs for Q1 2025 were ¥534,050,602.30, slightly up from ¥516,543,184.48 in Q1 2024, reflecting a 3.0% increase[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,325[7] - The largest shareholder, Zheng Anzheng, holds 29.61% of the shares, amounting to 118,188,853 shares[8] Future Plans - The company plans to continue expanding its market presence and developing new products and technologies[4] - The company plans to continue expanding its online sales channels, which have shown consistent growth[16] Research and Development - Research and development expenses for Q1 2025 were ¥9,752,892.38, down from ¥11,640,706.79 in Q1 2024, a decrease of 16.2%[23]