Company Recognition and Achievements - In 2024, the company was recognized as a leading enterprise in high-quality development in the Chinese pharmaceutical industry, with its product, Dengzhanhua Jiangong, awarded as a top brand[5]. - The company ranked 89th in the 2023 Top 100 Chinese Traditional Medicine Enterprises list[6]. - The company's product, Dengzhanhua Xixin, was included in the "Green Yunnan Products" brand directory in September 2024[9]. - The company was listed among the top 100 manufacturing enterprises in Yunnan in 2024[10]. Financial Performance - The company's operating revenue for 2024 was ¥516,232,107.07, a decrease of 17.05% compared to ¥622,338,700.67 in 2023[32]. - The net profit attributable to shareholders for 2024 was -¥74,400,964.91, representing a decline of 509.83% from -¥12,200,282.05 in 2023[32]. - The gross profit margin decreased to 72.89% in 2024 from 80.94% in 2023[32]. - Total assets at the end of 2024 were ¥1,145,047,375.03, down 7.34% from ¥1,235,702,221.84 at the end of 2023[34]. - The total liabilities decreased by 6.88% to ¥219,970,089.73 in 2024 from ¥236,223,971.63 in 2023[34]. - The net assets attributable to shareholders decreased to ¥925,077,285.30 in 2024, a reduction of 7.44% from ¥999,478,250.21 in 2023[34]. - The cash flow from operating activities for 2024 was ¥39,967,466.89, a significant decrease of 65.15% compared to ¥114,686,505.28 in 2023[34]. - The basic earnings per share for 2024 was -¥0.60, a decline of 500.00% from -¥0.10 in 2023[32]. Operational Developments - In August 2024, the company established a wholly-owned subsidiary in Shanghai to enhance its comprehensive value and sustainable development[8]. - The company relocated its registered address to Yunnan Province in February 2024[7]. - The company completed the cancellation of 3,999,993 shares, reducing the total shares from 128,000,000 to 124,000,007[26]. - The company has 7 products in the Dengzhanhua series, with Dengzhan Shengmai capsules and Dengzhan Xixin injection being the main patented products[42]. Research and Development - The company is focusing on establishing high-level R&D collaborations with prestigious medical institutions to drive innovation and improve patient care[51]. - The company aims to improve product clinical value and market competitiveness through ongoing R&D projects[100]. - The company has established collaborations with hospitals for RCT studies, enhancing its research capabilities and product validation[101]. - The company holds a total of 48 patents, all of which are invention patents, indicating a strong focus on innovation[98]. Market Strategy and Expansion - The company plans to expand its market presence by exploring new markets along the "Belt and Road" initiative and enhancing digital marketing strategies[48]. - The company aims to achieve double growth in operating income and profit by optimizing resource allocation and enhancing operational efficiency in response to the complex market environment[59]. - The company aims to strengthen the entire industrial chain of the medicinal plant, Dan Zhan Hua, to ensure raw material availability and promote high-quality development[121]. - The company plans to enhance market share of its core products, Dan Zhan Sheng Mai capsules and Dan Zhan Xi Xin injections, by expanding into untapped markets and improving coverage in grassroots medical institutions[122]. Legal and Compliance Issues - The company is actively addressing issues related to fund occupation, ensuring legal rights are protected, and is in the process of pursuing legal actions against former controlling shareholders for the return of misappropriated funds[54][55]. - The company has ongoing litigation with a total claim amount of 273,107,940.57 yuan, with the first instance ruling against the company[146]. - The company has taken measures to recover the remaining occupied funds of 257 million yuan and corresponding returns[160]. - The company has initiated legal proceedings against Jinsha River and related parties, with the first instance court ruling against the company[148]. Environmental and Social Responsibility - The company is committed to environmental responsibility, ensuring compliance with pollution discharge standards and passing external inspections[50]. - The company has promoted the planting area of Dengzhanhua in Yunnan Province to over 3,000 mu, contributing to poverty alleviation and rural revitalization[108]. - The company sponsored 20,000 yuan for the "2024 Mile Women's Half Marathon" to support local cultural and sports development[108]. - The company adheres to environmental protection regulations and has implemented measures to ensure wastewater discharge is below permitted levels[110]. Challenges and Risks - The company is facing risks of core technical personnel loss during the relocation of its production base from Kunming to Mile, which may impact long-term development[135]. - The price of traditional Chinese medicine materials has significantly increased due to various factors, which will affect the production costs of related products[136]. - The company has accumulated a bad debt provision of 195.32 million yuan due to unreturned funds, with credit impairment losses increasing by 45.63% year-on-year[148]. - The company has faced significant cash flow and operational impacts due to the large amount of funds occupied by the defendants[148]. Corporate Governance - The company has a total of 9 board members, 3 supervisors, and 2 senior management personnel[199]. - The total remuneration for the chairman and general manager, Lin Hongwei, is 26.65 million yuan[198]. - The total remuneration for the general manager, Yang Zhiling, is 53.48 million yuan[198]. - The total remuneration for the vice general manager, Zhang Chuan Kai, is 88.13 million yuan[198].

Financial Performance - The company's operating revenue for Q1 2025 was ¥79,256,915.65, representing a 44.88% increase compared to ¥54,703,500.18 in the same period last year[4] - The net profit attributable to shareholders was -¥18,414,939.50, a slight increase in loss from -¥16,574,890.90 year-on-year[4] - The increase in operating revenue was primarily driven by the capacity release of the Jiaxing project, leading to higher sales volume[8] - Total revenue for Q1 2025 reached ¥79,256,915.65, a 44.8% increase from ¥54,703,500.18 in Q1 2024[18] - Net loss for Q1 2025 was ¥18,414,939.50, compared to a net loss of ¥16,574,890.90 in Q1 2024, indicating a decline in performance[20] - Operating profit for Q1 2025 was -¥17,918,872.94, slightly worse than -¥16,317,966.73 in Q1 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities was ¥34,214,425.62, showing a 3.99% increase from ¥32,902,787.08 in the previous year[4] - Cash received from sales in Q1 2025 was ¥67,243,064.37, down 20.4% from ¥84,275,755.31 in Q1 2024[22] - The cash inflow from operating activities was $96,855,662.89, compared to $102,849,413.68, showing a decrease of about 6%[23] - Cash and cash equivalents decreased to RMB 141,328,906.84 from RMB 152,211,590.34, indicating a decline of about 7.5%[15] - Cash and cash equivalents at the end of the period totaled $141,328,906.84, down from $94,141,640.85, representing an increase of about 50%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,566,631,061.12, a slight increase of 0.10% from ¥2,563,947,151.17 at the end of the previous year[5] - Total liabilities amounted to ¥1,641,924,855.70, compared to ¥1,620,826,006.25 in the previous period[17] - Non-current liabilities decreased to ¥1,042,230,082.70 from ¥1,135,110,825.51[17] - The company's equity attributable to shareholders was ¥924,706,205.42, down from ¥943,121,144.92[17] Research and Development - Research and development expenses totaled ¥7,467,497.03, which is a 7.33% decrease from ¥8,058,136.82 in the same period last year[4] - The ratio of R&D expenses to operating revenue decreased to 9.42%, down 5.31 percentage points from 14.73% year-on-year[5] - Research and development expenses for Q1 2025 were ¥7,467,497.03, a decrease from ¥8,058,136.82 in Q1 2024[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,535[10] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[12] - There were no significant changes in the top 10 shareholders or their participation in margin trading and securities lending activities[12] Other Financial Information - The company recognized government subsidies amounting to ¥1,088,065.33, which are closely related to its normal operations[6] - The financial statements for the quarter ended March 31, 2025, are unaudited[13] - The company has not identified any other important information regarding its operational performance during the reporting period[13] Operating Costs - Total operating costs for Q1 2025 were ¥98,661,338.20, up 37.4% from ¥71,851,557.80 in Q1 2024[18]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 173,957,583.38, representing a 33.93% increase compared to CNY 129,883,899.51 in the same period last year[3] - Net profit attributable to shareholders decreased by 81.31% to CNY 2,742,739.43 from CNY 14,672,292.08 year-on-year[3] - The net profit after excluding non-recurring gains and losses dropped by 97.46% to CNY 353,313.70 from CNY 13,898,883.78 in the previous year[3] - Basic earnings per share decreased by 77.78% to CNY 0.02 from CNY 0.09 in the same period last year[4] - Net profit for Q1 2025 was ¥4,301,154.94, a decrease of 72% compared to ¥15,221,887.95 in Q1 2024[17] - The net profit attributable to shareholders of the parent company for Q1 2025 was ¥2,742,739.43, down 81% from ¥14,672,292.08 in Q1 2024[18] - The total comprehensive income for Q1 2025 was ¥4,394,227.78, significantly lower than ¥15,272,658.76 in Q1 2024[18] Cash Flow - The company reported a net cash flow from operating activities of CNY 40,686,711.92, down 37.70% from CNY 65,312,513.77 year-on-year[3] - Cash flow from operating activities in Q1 2025 was ¥214,086,437.88, compared to ¥208,031,192.36 in Q1 2024, indicating a slight increase[19] - The net cash flow from operating activities was $40,686,711.92, a decrease of 37.8% compared to $65,312,513.77 in the previous period[20] - Total cash inflow from investment activities was $87,669,642.88, slightly up from $87,223,840.87 year-over-year[20] - The net cash flow from investment activities was -$95,674,961.18, worsening from -$41,060,111.99 in the previous period[20] - Cash inflow from financing activities totaled $128,000,000.00, significantly higher than $39,229,533.34 in the prior period[21] - The net cash flow from financing activities was $16,882,888.49, an increase from $9,691,536.10 year-over-year[21] - The total cash and cash equivalents at the end of the period were $471,155,204.80, down from $628,418,213.78 at the beginning of the period[21] - The company paid $84,579,533.34 in debt repayments, compared to $20,450,000.00 in the previous period[21] - The company received $772,416.99 in tax refunds, which is a significant increase from $16,545,941.68 previously[20] - The company’s cash outflow for purchasing goods and services was $103,544,468.74, nearly unchanged from $103,586,307.60 in the prior period[20] - The impact of exchange rate changes on cash and cash equivalents was $1,883,675.27, compared to $811,123.85 in the previous period[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,168,597,997.76, a slight decrease of 0.56% from CNY 2,180,776,351.68 at the end of the previous year[4] - As of March 31, 2025, the company's total assets amounted to approximately ¥2.17 billion, a slight decrease from ¥2.18 billion as of December 31, 2024[11] - The company's cash and cash equivalents decreased to ¥471.79 million from ¥509.42 million, reflecting a decline of about 7.35%[11] - Accounts receivable decreased to ¥238.02 million from ¥270.16 million, representing a reduction of approximately 11.9%[11] - The company's total current liabilities decreased to ¥288.57 million from ¥332.24 million, indicating a decrease of about 13.14%[12] - Long-term equity investments remained relatively stable at ¥53.14 million compared to ¥53.31 million, showing a minor decrease of 0.32%[12] - The company's fixed assets decreased to ¥678.34 million from ¥691.43 million, a decline of approximately 1.89%[12] - The company's inventory remained stable at approximately ¥197.74 million, showing no significant change from the previous period[11] - The company reported a total current asset of approximately ¥1.10 billion, a slight decrease from ¥1.12 billion, reflecting a decline of about 1.6%[11] - The company's total non-current assets increased to approximately ¥1.07 billion from ¥1.06 billion, indicating a growth of about 0.68%[12] - Total liabilities decreased to ¥877,415,349.33 in Q1 2025 from ¥887,755,543.06 in Q1 2024[16] - Total equity attributable to shareholders of the parent company was ¥1,273,996,414.07, slightly down from ¥1,277,691,164.39 in Q1 2024[16] Research and Development - R&D investment totaled CNY 23,651,737.23, an increase of 10.43% from CNY 21,418,316.46, accounting for 13.60% of operating revenue[4] - Research and development expenses for Q1 2025 were ¥23,651,737.23, an increase from ¥21,418,316.46 in Q1 2024[17] Management and Operations - The company anticipates that the economic benefits from new business demands will gradually restore profitability as capacity utilization improves[4] - The increase in management expenses by CNY 3,150,600 was attributed to the underutilization of new capacities in Hunan and Vietnam factories[7] - The total number of ordinary shareholders at the end of the reporting period was 6,514[8] - The company has not reported any significant changes in shareholder structure or major financing activities during the reporting period[10]

Financial Performance - The company's operating revenue for Q1 2025 reached ¥554,270,119.55, representing a 60.52% increase compared to ¥345,288,588.23 in the same period last year[4] - Net profit attributable to shareholders was ¥70,568,105.32, a significant increase of 116.96% from ¥32,525,834.62 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥66,574,118.95, reflecting a 177.92% increase compared to ¥23,954,687.67 in the previous year[4] - Basic earnings per share rose to ¥0.17, up 112.50% from ¥0.08 in the same quarter last year[4] - Total operating revenue for Q1 2025 reached ¥554,270,119.55, a significant increase of 60.4% compared to ¥345,288,588.23 in Q1 2024[16] - Operating costs for Q1 2025 were ¥479,907,755.43, up 50.7% from ¥318,555,826.08 in Q1 2024[16] - Net profit for Q1 2025 was ¥70,568,105.32, representing a 116.7% increase from ¥32,525,834.62 in Q1 2024[17] - Basic and diluted earnings per share for Q1 2025 were both ¥0.17, compared to ¥0.08 in Q1 2024[18] - The company reported a total comprehensive income of ¥71,577,356.98 for Q1 2025, compared to ¥34,638,933.50 in Q1 2024[18] Research and Development - The total R&D investment amounted to ¥47,336,306.48, which is a 23.06% increase from ¥38,466,345.99 in the previous year[5] - Research and development expenses for Q1 2025 were ¥47,336,306.48, up from ¥38,466,345.99 in Q1 2024, indicating a focus on innovation[16] - The proportion of R&D investment to operating revenue decreased to 8.54%, down from 11.14% year-on-year[5] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,666,031,546.71, a 3.56% increase from ¥2,574,288,758.72 at the end of the previous year[5] - Current assets totaled CNY 2,529,816,486.65, up from CNY 2,373,320,481.36 in the previous period[13] - Cash and cash equivalents were reported at CNY 1,730,573,283.00, slightly down from CNY 1,757,374,244.05[12] - Accounts receivable decreased to CNY 226,019,967.00 from CNY 244,221,857.14[13] - Inventory increased significantly to CNY 335,017,892.57 from CNY 244,490,892.96[13] - Total liabilities rose to CNY 410,728,053.74 compared to CNY 394,140,140.39 in the previous period[14] - The company reported a decrease in accounts payable to CNY 229,546,582.61 from CNY 202,417,844.80[14] - Non-current assets totaled CNY 136,215,060.06, down from CNY 200,968,277.36[13] - The company's total equity remains unspecified in the provided data[14] Cash Flow - The net cash flow from operating activities was negative at -¥23,474,455.83, an improvement from -¥38,743,973.36 in the previous year[4] - Cash inflow from operating activities in Q1 2025 totaled ¥633,421,910.18, an increase from ¥365,005,854.28 in Q1 2024[18] - The net cash flow from operating activities was -$23.47 million, an improvement from -$38.74 million in the previous period[19] - Cash inflow from investment activities totaled $184.81 million, significantly up from $30 million year-over-year[19] - The net cash flow from investment activities was $63.09 million, compared to a negative $18.11 million in the prior period[19] - Cash outflow from financing activities was $889,869.67, a decrease from $49.30 million in the previous period[19] - The net increase in cash and cash equivalents was $41.94 million, contrasting with a decrease of $104.75 million in the prior period[19] - The ending balance of cash and cash equivalents was $250.51 million, compared to $268.73 million at the end of the previous period[19] Shareholder and Financing Activities - The company has not reported any significant changes in shareholder structure or financing activities during the reporting period[11] - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[19] Profitability - The weighted average return on net assets was 3.18%, up from 1.65% in the same period last year, indicating improved profitability[4] - The company's retained earnings increased to ¥871,642,738.64, compared to ¥801,074,633.32 in the previous year[15] - The total equity attributable to shareholders increased to ¥2,255,303,492.97, compared to ¥2,180,148,618.33 in the previous year[15]

Financial Performance - The company's revenue for Q1 2025 reached ¥282,885,275.77, representing a 63.42% increase compared to ¥173,108,475.50 in the same period last year[4]. - Net profit attributable to shareholders was ¥7,805,691.91, an increase of 81.78% from ¥4,294,058.13 year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥754,705.54, showing a significant increase of 144.13% compared to ¥309,146.43 in the previous year[4]. - The company's basic and diluted earnings per share both increased by 50.00%, reaching ¥0.06 per share[4]. - Total operating revenue for Q1 2025 reached ¥282,885,275.77, a significant increase of 63.5% compared to ¥173,108,475.50 in Q1 2024[18]. - Operating profit for Q1 2025 was ¥2,856,413.79, up from ¥1,793,073.33 in Q1 2024, reflecting a growth of 59.3%[19]. - Net profit for Q1 2025 was ¥5,410,411.52, compared to ¥4,294,058.13 in Q1 2024, representing an increase of 26.0%[19]. - Basic and diluted earnings per share for Q1 2025 were both ¥0.06, an increase from ¥0.04 in Q1 2024[20]. - The total comprehensive income for Q1 2025 was ¥5,409,870.09, compared to ¥4,294,109.67 in Q1 2024, reflecting a growth of 25.9%[20]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥87,146,532.15, compared to -¥13,830,773.47 in the same period last year, indicating increased cash outflows[4][8]. - Cash flow from operating activities for Q1 2025 was negative at -¥87,146,532.15, worsening from -¥13,830,773.47 in Q1 2024[21]. - Cash flow from investing activities showed a net outflow of -¥955,336,081.69 in Q1 2025, compared to -¥569,792,701.52 in Q1 2024, indicating increased investment activity[21]. - The company reported a cash and cash equivalents balance of ¥1,043,125,963.25 at the end of Q1 2025, down from ¥1,661,541,583.87 at the end of Q1 2024[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,110,952,021.03, a slight increase of 0.36% from ¥3,099,883,346.78 at the end of the previous year[5]. - The company's current assets totaled RMB 2,768,481,817.81, showing a decrease from RMB 2,801,426,577.49 in the previous period[14]. - Cash and cash equivalents decreased significantly from RMB 2,084,185,195.71 to RMB 1,043,125,963.25, representing a decline of approximately 50%[13]. - The company's inventory increased from RMB 360,602,241.41 to RMB 420,984,536.61, reflecting a growth of about 16.7%[14]. - Short-term borrowings rose from RMB 4,760,271.90 to RMB 16,750,271.90, indicating an increase of approximately 251%[15]. - Total liabilities increased from RMB 200,139,616.66 to RMB 209,158,780.96, marking a rise of about 4.5%[15]. - The equity attributable to shareholders increased slightly from RMB 2,899,743,730.12 to RMB 2,907,548,880.60, showing a growth of approximately 0.3%[16]. - The company reported a decrease in accounts payable from RMB 150,994,482.48 to RMB 147,971,768.92, a decline of about 2%[15]. - The company's long-term equity investments increased from RMB 155,292,109.13 to RMB 178,380,392.35, reflecting a growth of approximately 14.9%[14]. Research and Development - Research and development expenses totaled ¥19,916,625.75, accounting for 7.04% of revenue, down from 11.61% in the previous year, a decrease of 4.57 percentage points[5]. - Research and development expenses for Q1 2025 were ¥19,916,625.75, slightly down from ¥20,102,415.25 in Q1 2024, indicating a decrease of 0.9%[18]. Company Strategy and Market Position - The company attributed revenue growth to optimizing product mix strategies, expanding production capacity, and increasing demand in key application areas such as 5G base station power supplies and electric vehicle charging[7]. - The company has not disclosed any new product developments or market expansion strategies during this reporting period[12]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,820[10]. - The weighted average return on equity increased by 0.12 percentage points to 0.27%[4]. Foreign Exchange Impact - The company experienced a foreign exchange loss of -¥541.43 in Q1 2025, contrasting with a gain of ¥51.54 in Q1 2024[21].

Financial Performance - The company's revenue for Q1 2025 was ¥909,945,198.53, representing a year-on-year increase of 9.61% compared to ¥830,133,907.19 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥122,238,253.41, slightly improved from a loss of ¥125,285,669.54 in the previous year[4] - Total operating revenue for Q1 2025 reached ¥909,945,198.53, an increase of 9.6% compared to ¥830,133,907.19 in Q1 2024[17] - Net profit for Q1 2025 was a loss of ¥122,238,253.41, slightly improved from a loss of ¥125,285,669.54 in Q1 2024[18] - The company reported a total comprehensive loss of ¥125,639,748.00 for Q1 2025, compared to a loss of ¥132,351,736.68 in Q1 2024[19] Research and Development - Research and development (R&D) expenses totaled ¥357,257,685.32, an increase of 12.88% from ¥316,480,241.79, accounting for 39.26% of total revenue, up from 38.12%[5] - Research and development expenses for Q1 2025 amounted to ¥357,257,685.32, an increase of 12.9% from ¥316,480,241.79 in Q1 2024[18] Cash Flow - The company reported a net cash flow from operating activities of -¥183,222,888.41, an improvement from -¥228,518,251.87 in the previous year[4] - Cash inflow from operating activities in Q1 2025 was ¥852,991,323.38, compared to ¥644,054,320.13 in Q1 2024, reflecting a growth of 32.4%[21] - The net cash flow from operating activities was -$183.22 million, an improvement from -$228.52 million in the previous period[22] - The net increase in cash and cash equivalents was $390.40 million, contrasting with a decrease of $110.21 million in the previous period[22] - The ending balance of cash and cash equivalents was $3.01 billion, up from $2.44 billion year-over-year[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,405,918,272.81, a decrease of 2.00% from ¥6,536,868,670.00 at the end of the previous year[5] - Total current assets as of March 31, 2025, amount to ¥5,374,727,831.06, a decrease from ¥5,473,216,050.76 as of December 31, 2024[13] - Total liabilities as of March 31, 2025, are ¥737,727,135.46, slightly up from ¥736,294,799.95[14] - The total liabilities as of the latest reporting period were ¥799,307,423.37, a decrease from ¥855,090,183.65[15] - The company’s non-current assets total ¥1,031,190,441.75, down from ¥1,063,652,619.24[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,780[10] - The largest shareholder, Alibaba (China) Network Technology Co., Ltd., holds 64,557,440 shares, accounting for 15.43% of total shares[10] - The company has a share repurchase account holding 13,358,771 shares, representing 3.19% of total shares as of March 31, 2025[11] Earnings Per Share - The basic earnings per share were -¥0.30, slightly improved from -¥0.31 in the same period last year[5] - Basic and diluted earnings per share for Q1 2025 were both -¥0.30, compared to -¥0.31 in Q1 2024[19] Other Financial Metrics - The weighted average return on equity was -2.17%, a decrease of 0.18 percentage points from -1.99%[5] - The company experienced an increase in gross profit margin, with total gross profit rising by ¥42,754,300, a growth rate of 21.70%[7] - Non-recurring gains and losses amounted to ¥59,817,380.47, primarily from government subsidies and other non-operating income[6] - Deferred income as of the latest reporting period was ¥30,861,768.06, down from ¥87,843,100.27[15] Accounting Standards - The company plans to implement new accounting standards starting in 2025[23]

Financial Performance - JinkoSolar reported a negative distributable profit for the fiscal year 2024, leading to no profit distribution or capital reserve transfer to shareholders[5]. - The company's operating revenue for 2024 was approximately ¥92.47 billion, a decrease of 22.08% compared to ¥118.68 billion in 2023[22]. - Net profit attributable to shareholders was ¥98.93 million, down 98.67% from ¥7.44 billion in the previous year[22]. - The net cash flow from operating activities decreased by 68.30%, from ¥24.82 billion in 2023 to ¥7.87 billion in 2024[25]. - Basic earnings per share dropped to ¥0.01, a decline of 98.65% compared to ¥0.74 in 2023[23]. - The weighted average return on equity fell to 0.30%, a decrease of 23.89 percentage points from 24.19% in 2023[24]. - The total assets decreased by 8.33% from ¥132.12 billion in 2023 to ¥121.11 billion in 2024[22]. - The company reported a significant decline in sales revenue due to intensified competition and falling prices in the photovoltaic market[25]. - The company experienced a net loss in the fourth quarter, with a net profit of -¥1.12 billion attributable to shareholders[27]. - The company's revenue for 2024 was 92.471 billion RMB, a decrease of 22.08% year-on-year, while net profit attributable to shareholders was 99 million RMB, down 98.67%[36]. Market Position and Strategy - Jinko Solar reported a revenue of RMB 10.5 billion for the last quarter, representing a year-over-year increase of 25%[21]. - The company shipped 5.2 GW of solar modules in the last quarter, a 30% increase compared to the same period last year[21]. - Jinko Solar expects to achieve a revenue target of RMB 45 billion for the full year 2024, indicating a growth of 20% from 2023[21]. - The company is exploring potential acquisitions in the European market to enhance its market presence and distribution channels[21]. - The company has established partnerships with three major utility companies to expand its project pipeline in North America[21]. - The company is focusing on developing customized solutions for zero-carbon parks and integrated solar-storage systems to enhance its market presence[41]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its offerings[174]. - The company plans to expand its market presence and is focusing on new product development to drive future growth[174]. Research and Development - Jinko Solar is investing RMB 1 billion in R&D for new solar technologies, aiming to improve conversion efficiency by 2% over the next two years[21]. - The total R&D expenditure for the year was approximately ¥4.41 billion, a decrease of 36.12% compared to the previous year's ¥6.90 billion[70]. - The company filed 796 new invention patents and obtained 387 patents during the reporting period, bringing the total number of valid patents to 3,010[68]. - The company is focusing on the commercialization of perovskite solar cells, achieving an efficiency of 21.68% and a record efficiency of 34.22% for tandem cells[73]. - The company has established a research laboratory dedicated to the development of next-generation high-efficiency battery components, ensuring a strong technological reserve[73]. - The company is committed to continuous optimization of its solar cell technology, with a focus on achieving industry-leading performance metrics[73]. - The company is actively participating in various international academic conferences, including the SNEC and IEEE PVSC, to stay updated on photovoltaic technology developments[67]. Governance and Risk Management - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[7]. - JinkoSolar's financial report received a standard unqualified audit opinion from Tianjian Accounting Firm[4]. - The company has no special arrangements for corporate governance that would affect the annual report's accuracy and completeness[8]. - The company has implemented a comprehensive risk management strategy to address global policy risks and market uncertainties[79]. - The company has established an industry-leading integrated production capacity of approximately 100GW by the end of 2024, focusing on N-type TOPCon battery technology for efficiency and cost reduction[43]. - The company has maintained a transparent information disclosure system, with no incidents of information leakage or insider trading reported[168]. Operational Efficiency - The company is enhancing its financial risk management and operational efficiency to navigate the cyclical fluctuations in the photovoltaic industry[40]. - The company has implemented a dual sales model, utilizing direct sales for large projects and distribution for smaller commercial and residential markets, optimizing service processes and quality management[51]. - The company is focusing on the development of dual-sided modules, which enhance energy generation and reduce internal losses, thereby improving overall competitiveness[74]. - The company has adjusted its R&D project investments based on strategic planning and technological needs, leading to changes in ongoing project funding[75]. Sustainability and Environmental Impact - The company has established nine "zero-carbon factories" certified by TÜV Rheinland, promoting a significant reduction in the carbon footprint of photovoltaic components[81]. - The company is committed to sustainability initiatives, aligning with global trends and consumer preferences[174]. - The company aims to enhance the ecological impact of photovoltaic systems through integrated design and lifecycle assessment technologies[74]. Future Outlook - Future guidance indicates a positive outlook with expected revenue growth driven by increased user adoption and market expansion strategies[174]. - The company plans to issue global depositary receipts and list them on the Frankfurt Stock Exchange, indicating a strategy for market expansion[170]. - The company aims for an annual shipment target of 85-100GW in 2025, reinforcing its market leadership position[164]. - The global photovoltaic market is expected to see a 17% year-on-year growth in new installations, reaching approximately 698GW in 2025[154].

Financial Performance - The company's revenue for Q1 2025 was CNY 13.84 billion, a decrease of 40.03% compared to CNY 23.08 billion in the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 1.39 billion, down 218.20% from a profit of CNY 1.18 billion year-on-year[6]. - The net cash flow from operating activities was a negative CNY 2.62 billion, a decline of 323.43% compared to CNY 1.17 billion in the previous year[6]. - Total operating revenue for Q1 2025 was CNY 13.84 billion, a decrease of 40.2% compared to CNY 23.08 billion in Q1 2024[20]. - The net profit for Q1 2025 was a loss of CNY 1.45 billion, compared to a profit of CNY 1.18 billion in Q1 2024[21]. - The company's operating profit for Q1 2025 was a loss of CNY 2.08 billion, compared to a profit of CNY 1.47 billion in Q1 2024[21]. - The company reported a total comprehensive loss of CNY 1.46 billion for Q1 2025, compared to a comprehensive income of CNY 1.18 billion in Q1 2024[22]. Earnings Per Share - The basic earnings per share were CNY -0.14, a decline of 216.67% from CNY 0.12 in the previous year[6]. - The diluted earnings per share were CNY -0.14, down 227.27% from CNY 0.11 year-on-year[7]. - Basic earnings per share for Q1 2025 were CNY -0.14, compared to CNY 0.12 in Q1 2024[22]. Research and Development - Research and development expenses totaled CNY 495.90 million, a decrease of 63.17% from CNY 1.35 billion in the same period last year[7]. - Research and development expenses in Q1 2025 were CNY 128.78 million, a decrease of 57.6% from CNY 303.72 million in Q1 2024[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 119.03 billion, a decrease of 1.72% from CNY 121.11 billion at the end of the previous year[7]. - The total liabilities as of the end of the reporting period were CNY 86.56 billion, slightly down from CNY 87.19 billion in the previous period[19]. - The total equity attributable to shareholders was CNY 30.92 billion, a decrease from CNY 32.31 billion in the previous period[19]. - The total current assets as of March 31, 2025, amounted to RMB 66,886,217,910.95, a decrease from RMB 68,790,452,676.93 at the end of 2024[17]. - The total assets as of March 31, 2025, were RMB 119,032,648,312.30, down from RMB 121,109,877,893.38 at the end of 2024[17]. Cash Flow - In Q1 2025, the net cash flow from operating activities was -$2.62 billion, a significant decline compared to $1.17 billion in Q1 2024, indicating a negative cash flow trend[23]. - Total cash inflow from operating activities in Q1 2025 was $16.51 billion, down 25.6% from $22.18 billion in Q1 2024[23]. - Cash outflow from operating activities increased to $19.13 billion in Q1 2025, compared to $21.01 billion in Q1 2024, reflecting higher operational costs[23]. - Cash flow from investing activities showed a net outflow of -$573.37 million in Q1 2025, an improvement from -$2.39 billion in Q1 2024[24]. - Cash inflow from financing activities in Q1 2025 was $10.93 billion, up 52.5% from $7.17 billion in Q1 2024, indicating increased borrowing[24]. - The net cash flow from financing activities improved to $3.75 billion in Q1 2025, compared to a net outflow of -$3.27 billion in Q1 2024[24]. - The ending cash and cash equivalents balance increased to $24.55 billion in Q1 2025, compared to $12.73 billion in Q1 2024, showing a strong liquidity position[24]. - Cash received from the disposal of fixed assets was $62.09 million in Q1 2025, significantly higher than $16.52 million in Q1 2024, indicating asset monetization efforts[24]. - The company received $10.52 billion in borrowings in Q1 2025, a notable increase from $6.95 billion in Q1 2024, reflecting a strategy to enhance liquidity[24]. - The company reported a cash inflow of $415.13 million from other financing activities in Q1 2025, compared to $225.34 million in Q1 2024, indicating diversified funding sources[24]. Market and Industry Context - The company attributed the decline in revenue and profit primarily to the decrease in photovoltaic module prices[9]. - The company has faced pressure on profit levels due to low prices across the photovoltaic industry chain and changes in overseas trade policies[13]. - The company is actively responding to industry demand and policy changes while optimizing market strategies and supply chain management[13]. - The company is committed to maintaining its industry-leading position through continuous technology upgrades and product competitiveness[14]. - The total shipment volume for Q1 2025 was 19,130 MW, with module shipments at 17,504 MW, representing a year-over-year decrease of 12.68%[14]. - As of the end of the reporting period, the cumulative global shipment of photovoltaic modules exceeded 320 GW[14]. - The average efficiency of mass-produced high-efficiency N-type TOPCon cells reached over 26.6%[14]. - The company expects module shipments for Q2 2025 to be between 20 GW and 25 GW[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,561[10].

Financial Performance - The company achieved total revenue of 129.47 million yuan in 2024, representing a year-on-year growth of 13.32%[5]. - The company reported a net loss attributable to shareholders of 201.38 million yuan in 2024, a reduction in loss by 127.58 million yuan compared to the previous year[13]. - The net cash flow from operating activities improved, with a net outflow of CNY 172.52 million, a reduction of CNY 9.47 million from the previous year, due to cost reduction and efficiency enhancement efforts[36]. - The basic earnings per share for 2024 was -CNY 0.54, an improvement from -CNY 0.88 in 2023[34]. - The company achieved a revenue of RMB 129.47 million in the reporting period, but reported a net loss of RMB 201.38 million attributable to shareholders[142]. - The company reported a significant non-recurring gain of CNY 125.93 million, primarily from the disposal of a 70% stake in Qianyan Jianling and government subsidies[39]. - The quarterly revenue for Q4 2024 was CNY 37.83 million, contributing to the overall annual growth[38]. - The company has set a performance guidance of achieving RMB 600 million in revenue for the next quarter, reflecting a 20% growth target[32]. Research and Development - Research and development expenses for 2024 amounted to 137.21 million yuan, primarily focused on post-marketing studies of Aikening® and advancing pipeline product development[13]. - The company has established a value-driven R&D management system to prioritize innovative projects with significant clinical advantages[9]. - The company is committed to strengthening its new drug R&D and production capabilities to maintain competitiveness in the pharmaceutical industry[45]. - The company is focusing on optimizing its R&D pipeline, with new projects currently in early development stages[127]. - The total R&D expenditure for the year was ¥137,205,648.06, a decrease of 35.95% compared to the previous year[126]. - The company’s R&D investment accounted for 105.97% of its revenue during the reporting period, significantly higher than the industry average[191]. - The R&D investment for small nucleic acid drugs was 26.65 million RMB, accounting for 20.59% of operating revenue, with no applicable year-on-year comparison[195]. - The company has established a comprehensive patent management system to protect its innovative products, creating a patent moat in the long-acting HIV drug and small nucleic acid drug fields[138]. Product Development and Pipeline - The core product, Aikening®, has seen sales exceed 100 million yuan for two consecutive years since 2023, indicating successful commercialization[14]. - Aikening® is currently undergoing Phase II clinical trials for two additional indications, which have been approved by the National Medical Products Administration[14]. - The company is advancing the clinical development of FB7013, a candidate drug for IgA nephropathy, which is in the preclinical research stage and has First-in-Class potential[8]. - The company is focusing on developing long-acting HIV drugs and new small nucleic acid drugs, with a pipeline that includes innovative and high-end generic drugs to meet market demands[55][56]. - The company is actively developing multiple new drugs, including FB1002 for HIV treatment and FB2001 for COVID-19, with clinical trials progressing as planned[24]. - The company is exploring the application of Aikening® in post-exposure prophylaxis, with successful implementations in private clinics in cities like Shanghai, Nanjing, and Guangzhou[52]. - The company is developing high-end generic drugs in the chronic disease treatment field, including FB4001 for osteoporosis and FB3002 for musculoskeletal pain, to strengthen its competitive advantage[135]. Market Strategy and Expansion - The company aims to enhance operational efficiency and marketing network construction to drive high-quality development and value growth in 2025[10]. - Frontier Biotechnologies aims to expand its market presence, targeting a 15% increase in market share over the next fiscal year[32]. - The company is focusing on building a comprehensive long-acting anti-HIV product matrix while also exploring opportunities in the chronic disease market with small nucleic acid drugs and high-end generics[14]. - The company has expanded its product coverage to over 300 HIV treatment hospitals and 200 DTP pharmacies across 30 provinces and municipalities in China, with the product included in the national medical insurance directory for 2024[47]. - The company is committed to increasing R&D investment and advancing the development of small nucleic acid products across various therapeutic areas[90]. - The company employs a dual sales model, utilizing both distributor and direct supply methods to enhance market reach and patient access[95][96]. Regulatory and Compliance - The company is exposed to regulatory risks in the pharmaceutical industry, which could hinder market expansion or increase compliance costs if strategic adjustments are not made in response to policy changes[149]. - The company has successfully renewed the inclusion of Aikening® in the National Medical Insurance Directory, maintaining the original payment standards and scope, which supports further commercialization in local markets[47]. - The company has submitted an ANDA for the osteoporosis treatment FB4001 to the FDA, which is currently under review, aiming for commercialization in the U.S. by 2025[62]. Financial Position and Risks - Total assets decreased by 15.33% year-on-year to CNY 1.81 billion, while equity attributable to shareholders decreased by 15.00% to CNY 1.14 billion, mainly due to the sale of a 70% stake in Qianyan Jianling[36]. - The company faces significant risks related to the rapid technological changes in the pharmaceutical industry, which could affect its business operations and financial status if competitors develop superior products[145]. - The company is still heavily reliant on Aikening® for revenue, and any significant changes in the HIV drug market could adversely impact its business performance[146]. - The company is facing risks related to potential significant declines in performance or losses, particularly if the market performance of Aikening® does not meet expectations[144].

Financial Performance - The company's operating revenue for Q1 2025 was ¥54,903,476.57, a decrease of 22.72% compared to ¥71,046,221.35 in the same period last year[4] - Net profit attributable to shareholders was ¥46,494,495.17, down 7.37% from ¥50,192,583.10 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥26,424,953.02, reflecting a significant decline of 37.00% compared to ¥41,944,349.94 in the previous year[4] - The net cash flow from operating activities decreased by 35.48% to ¥7,003,028.12 from ¥10,853,625.56 in the same period last year[4] - Total revenue for Q1 2025 was CNY 54,903,476.57, a decrease of 22.5% compared to CNY 71,046,221.35 in Q1 2024[17] - Operating profit for Q1 2025 was approximately $51.19 million, compared to $56.08 million in Q1 2024, indicating a decrease of about 8.3%[18] - Total comprehensive income for Q1 2025 was approximately $46.36 million, down from $50.21 million in Q1 2024, reflecting a decrease of about 7.4%[19] - Basic and diluted earnings per share for Q1 2025 were both $0.25, compared to $0.27 in Q1 2024, a decrease of about 7.4%[19] Operating Costs and Expenses - Total operating costs for Q1 2025 were CNY 29,089,906.84, slightly increased from CNY 28,993,281.89 in Q1 2024[17] - Operating costs in Q1 2025 included CNY 10,217,143.85 for cost of goods sold, down 23.8% from CNY 13,375,178.63 in Q1 2024[17] - Research and development expenses totaled ¥19,072,897.24, accounting for 34.74% of operating revenue, an increase of 7.27 percentage points from 27.47% year-on-year[4] - R&D expenses for Q1 2025 were approximately $19.07 million, a slight decrease from $19.52 million in Q1 2024, reflecting a reduction of about 2.3%[18] - The company reported a decrease in financial expenses, with interest expenses of approximately $4.93 thousand in Q1 2025, down from $677.61 thousand in Q1 2024[18] Cash Flow and Investments - Cash flow from operating activities for Q1 2025 was approximately $7.00 million, down from $10.85 million in Q1 2024, a decline of about 35.5%[21] - Cash flow from investing activities generated a net inflow of approximately $121.77 million in Q1 2025, compared to a net outflow of approximately $395.75 million in Q1 2024[22] - Cash and cash equivalents as of March 31, 2025, were CNY 663,236,081.97, up from CNY 512,196,672.91 at the end of 2024[14] - Cash and cash equivalents at the end of Q1 2025 were approximately $663.24 million, an increase from $452.21 million at the end of Q1 2024[22] - The company received approximately $1.25 billion from investment recoveries in Q1 2025, significantly higher than $595.68 million in Q1 2024, indicating a substantial increase[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,859,800,304.36, representing a 1.01% increase from ¥3,821,078,755.50 at the end of the previous year[5] - Total assets as of March 31, 2025, amounted to CNY 3,859,800,304.36, compared to CNY 3,821,078,755.50 at the end of 2024[16] - Total liabilities decreased to CNY 200,364,763.22 as of March 31, 2025, from CNY 208,003,524.27 at the end of 2024[16] - Shareholders' equity increased to CNY 3,659,435,541.14 as of March 31, 2025, compared to CNY 3,613,075,231.23 at the end of 2024[16] - The company reported a decrease in accounts receivable from CNY 45,212,808.81 in 2024 to CNY 29,712,389.21 in Q1 2025[14] - The company’s inventory remained stable at CNY 722,867.26 as of March 31, 2025[14] - The company’s long-term equity investments increased slightly to CNY 642,260,123.48 from CNY 635,922,563.15[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,243[10] - The largest shareholder, Huang Shan, holds 68.23% of the shares, totaling 124,823,913 shares[11] Investment Income - The company reported a significant increase of 179.04% in investment income, primarily due to gains from the disposal of trading financial assets[9]