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]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,592,834,660.31, a slight increase of 0.22% compared to CNY 1,589,268,589.07 in the same period last year[3]. - Net profit attributable to shareholders increased by 7.10% to CNY 208,991,180.87 from CNY 195,127,615.85 year-on-year[3]. - Basic and diluted earnings per share both improved by 8.33% to CNY 0.13 from CNY 0.12 in the same period last year[4]. - The company reported a net profit margin improvement, with net profit for Q1 2025 expected to be higher than the previous year, although specific figures were not disclosed[15]. - The net profit for the first quarter of 2025 was CNY 208,991,180.87, an increase of 7.4% compared to CNY 195,127,615.85 in the first quarter of 2024[16]. - The total revenue from operating activities was CNY 2,090,103,390.25, up from CNY 1,876,667,962.87 in the same period last year, representing an increase of 11.3%[19]. Cash Flow and Liquidity - The net cash flow from operating activities rose significantly by 24.23% to CNY 195,904,317.95 compared to CNY 157,691,526.41 in the previous year[3]. - Cash and cash equivalents as of March 31, 2025, were RMB 1,155,951,276.02, compared to RMB 1,178,988,446.21 as of December 31, 2024, showing a decline of approximately 1.9%[11]. - The cash flow from operating activities netted CNY 195,904,317.95, compared to CNY 157,691,526.41 in the previous year, reflecting a growth of 24.2%[20]. - The cash and cash equivalents at the end of the period were CNY 1,155,951,268.33, compared to CNY 1,066,221,102.72 at the end of the first quarter of 2024, indicating an increase of 8.4%[21]. - The company’s investment activities resulted in a net cash outflow of CNY -277,414,781.54, compared to a net inflow of CNY 37,589,536.48 in the previous year[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,548,274,973.06, reflecting a 2.38% increase from CNY 7,372,560,133.03 at the end of the previous year[4]. - Total assets as of March 31, 2025, were RMB 7,548,274,973.06, up from RMB 7,372,560,133.03, reflecting an increase of about 2.4%[13]. - Total liabilities as of March 31, 2025, were RMB 2,562,442,768.74, slightly up from RMB 2,557,671,196.47, indicating a marginal increase of about 0.2%[14]. - Shareholders' equity increased to RMB 4,985,832,204.32 from RMB 4,814,888,936.56, representing a growth of approximately 3.5%[14]. Shareholder Information - The top shareholder, Zhejiang Zhoushan Daimai Investment Co., Ltd., holds 56.37% of the shares, totaling 931,693,389 shares[7]. - The total number of ordinary shareholders at the end of the reporting period was 18,004[6]. Operating Costs and Expenses - Total operating costs for Q1 2025 were RMB 1,343,727,065.92, down from RMB 1,354,715,932.40 in Q1 2024, reflecting a decrease of about 0.8%[15]. - The company reported a significant increase in sales expenses, totaling CNY 28,723,618.44, up from CNY 26,081,271.27, which is an increase of 10.0%[16]. - Research and development expenses rose to CNY 50,289,839.75, compared to CNY 49,387,929.29, marking a 1.8% increase[16]. - The company experienced a decrease in financial expenses, reporting a net financial income of CNY -3,306,315.32, compared to CNY 17,490,117.63 in the previous year[16]. Government Subsidies and Non-Recurring Items - The company received government subsidies amounting to CNY 740,775.67, which are closely related to its normal business operations[5]. - The total amount of non-recurring gains and losses for the period was CNY 2,956,977.23 after tax adjustments[5]. Comprehensive Income - The total comprehensive income for the first quarter was CNY 170,941,300.25, slightly down from CNY 176,002,524.33 in the first quarter of 2024[17].