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

Financial Performance - The company's operating revenue for Q1 2025 was ¥78,741,129.63, representing a decrease of 10.58% compared to ¥88,058,162.67 in the same period last year[4]. - The net profit attributable to shareholders was -¥3,019,866.61, while the net profit after deducting non-recurring gains and losses was -¥4,450,133.90, indicating a continued loss[4]. - Net profit for Q1 2025 was a loss of ¥4,054,605.47, compared to a loss of ¥3,125,388.59 in Q1 2024, representing a 29.7% increase in loss[18]. - Basic and diluted earnings per share for Q1 2025 were both -¥0.01, unchanged from Q1 2024[19]. - Cash received from sales and services in Q1 2025 was ¥34,850,686.15, down 30.9% from ¥50,460,078.65 in Q1 2024[20]. Cash Flow - The net cash flow from operating activities was -¥28,560,955.60, compared to -¥24,404,381.56 in the same period last year, indicating a worsening cash flow situation[4]. - Cash flow from operating activities for Q1 2025 was a net outflow of ¥28,560,955.60, compared to a net outflow of ¥24,404,381.56 in Q1 2024[20]. - Net cash flow from investment activities was $15,648,403.65, a decrease from $20,450,214.15 in the previous period, reflecting a decline of approximately 23.5%[21]. - The net increase in cash and cash equivalents was -$14,827,032.87, compared to -$4,035,094.87, indicating a decline of about 267%[21]. - The ending balance of cash and cash equivalents was $96,342,060.93, down from $40,805,615.51, reflecting a decrease of approximately 136%[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,560,660,343.91, a slight increase of 0.42% from ¥1,554,117,949.14 at the end of the previous year[5]. - Total liabilities as of the end of Q1 2025 were ¥140,772,376.01, an increase from ¥128,495,487.08 at the end of Q1 2024[16]. - The company's cash and cash equivalents decreased to RMB 96,483,629.97 from RMB 146,206,489.54 in the previous period, representing a decline of approximately 34%[12]. - Accounts receivable increased to RMB 302,159,319.19, up from RMB 261,397,654.93, indicating a growth of about 15.6%[12]. - The total non-current assets reached RMB 1,018,721,546.88, slightly up from RMB 1,003,287,152.99, showing a modest increase of about 1.8%[13]. Research and Development - Research and development expenses totaled ¥14,871,393.62, which is an increase of 4.84% from ¥14,184,983.93 in the previous year, accounting for 18.89% of operating revenue, up from 16.11%[4][5]. - Research and development expenses for Q1 2025 were ¥11,111,043.54, a decrease of 12.1% from ¥12,646,826.27 in Q1 2024[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,892[8]. - The largest shareholder, Yang Yufang, holds 21.93% of the shares, totaling 90,063,197 shares[9]. - UNITED BIOMEDICAL, INC. holds 10.52% of the shares, totaling 43,199,898 shares, with a portion of shares frozen[9]. Other Information - The company continues to focus on cost control and optimizing R&D resources despite the decline in revenue[7]. - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[11].

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

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

Financial Performance - The company's revenue for Q1 2025 reached ¥1,305,866,199.58, representing a 41.73% increase compared to ¥921,388,511.56 in the same period last year[4] - Net profit attributable to shareholders was ¥246,333,965.84, a significant increase of 207.21% from ¥80,183,413.97 year-on-year[4] - Basic and diluted earnings per share increased to ¥0.56, reflecting a growth of 211.11% compared to ¥0.18 in the same period last year[4] - Operating profit for Q1 2025 was ¥286,090,377.66, up from ¥70,563,375.62 in Q1 2024, reflecting a growth of 304.5%[16] - Net profit attributable to shareholders for Q1 2025 was ¥246,333,965.84, compared to ¥80,183,413.97 in Q1 2024, marking an increase of 207.5%[18] - The total equity attributable to shareholders rose to ¥8,079,463,700.92 in Q1 2025, compared to ¥7,665,635,114.21 in Q1 2024, an increase of 5.4%[16] Cash Flow - The net cash flow from operating activities improved to ¥93,152,164.05, a turnaround from a negative cash flow of ¥155,024,348.43 in the previous year[4] - The company reported a net cash flow from operating activities of ¥93,152,164.05 in Q1 2025, a turnaround from a negative cash flow of -¥155,024,348.43 in Q1 2024[20] - The net cash increase from operating activities for Q1 2025 was ¥237,815,909.21, compared to a net decrease of ¥93,413,672.26 in the same period last year[21] - The net cash flow from financing activities was ¥224,080,103.77, an increase from ¥149,843,070.11 year-over-year[21] - Cash inflows from financing activities totaled ¥424,672,965.68, significantly higher than ¥167,000,000.00 in the previous year[21] - Cash outflows from investment activities were ¥128,863,829.25, compared to ¥235,308,626.48 in the same period last year[21] - The net cash flow from investment activities was -¥76,450,447.68, slightly improved from -¥88,777,691.67 year-over-year[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,637,612,001.52, up 4.20% from ¥12,128,452,382.81 at the end of the previous year[5] - Total assets reached ¥12,637,612,001.52, compared to ¥12,128,452,382.81, an increase of 4.18%[14] - Current liabilities totaled ¥3,597,798,695.02, slightly up from ¥3,529,551,831.90, indicating a rise of 1.52%[14] - Long-term borrowings stood at ¥765,799,142.38, compared to ¥758,194,676.18, reflecting an increase of 1.99%[14] - The total liabilities increased to ¥4,557,171,209.71 in Q1 2025 from ¥4,462,816,629.35 in Q1 2024, reflecting a growth of 2.1%[16] Research and Development - Research and development expenses totaled ¥252,173,658.10, which is 19.31% of revenue, down from 22.16% in the previous year[5] - Research and development expenses for Q1 2025 were ¥187,377,346.82, up from ¥167,819,748.27 in Q1 2024, indicating a focus on innovation[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,594[10] - ACM RESEARCH, INC. holds 81.06% of shares, totaling 357,692,308 shares[10] - The company has no significant changes in major shareholders or their shareholding status during the reporting period[11] Market and Operational Insights - The company attributed revenue growth to strong demand in the semiconductor industry, particularly in the Chinese market, and efficient sales and delivery processes[8] - The increase in net profit was primarily driven by growth in main business revenue and gross profit[8] - The company has accumulated a substantial order reserve, which supports future revenue growth[8] Cash and Equivalents - The company's cash and cash equivalents increased to ¥2,872,406,514.61 from ¥2,634,590,605.40, a growth of 9.03%[13] - The total cash and cash equivalents at the end of Q1 2025 amounted to ¥2,872,406,514.61, up from ¥1,429,928,401.69 in the previous year[22] Accounts Receivable and Inventory - Accounts receivable rose to ¥2,284,278,445.63, up from ¥2,132,274,574.65, reflecting an increase of 7.13%[13] - Inventory increased to ¥4,302,045,308.51 from ¥4,232,200,698.68, marking a growth of 1.65%[13] Other Information - There are no applicable reminders for investors regarding the company's operational status during the reporting period[12] - The company did not apply new accounting standards or interpretations for the first execution year[21] - The impact of exchange rate changes on cash and cash equivalents was -¥2,965,910.93, contrasting with a positive impact of ¥545,297.73 in the previous year[21]

Financial Performance - The company's operating revenue for Q1 2025 was ¥311,118,492.11, representing a 10.80% increase compared to ¥280,802,086.21 in the same period last year[4] - The net profit attributable to shareholders was -¥111,431,603.98, an improvement from -¥200,369,144.75 year-on-year[4] - The net cash flow from operating activities was -¥276,283,635.13, compared to -¥358,258,437.75 in the previous year[4] - Total operating revenue for Q1 2025 was ¥311,118,492.11, an increase of 10.5% compared to ¥280,802,086.21 in Q1 2024[18] - Net profit for Q1 2025 was a loss of ¥115,021,353.42, compared to a loss of ¥203,645,289.17 in Q1 2024, representing a 43.5% improvement[19] - The total comprehensive income for Q1 2025 was a loss of ¥74,320,513.17, compared to a loss of ¥140,786,726.67 in Q1 2024, indicating a 47% improvement[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,722,878,988.22, a decrease of 6.21% from ¥5,035,768,395.71 at the end of the previous year[5] - The company's total current assets decreased to RMB 2,637,069,337.01 from RMB 2,989,049,669.19, representing a reduction of about 11.8%[13] - The total non-current assets slightly decreased to RMB 2,085,809,651.21 from RMB 2,046,718,726.52, indicating a decline of approximately 3.0%[14] - The company's total liabilities decreased to RMB 2,269,710,207.80 from RMB 2,509,430,446.96, a reduction of about 9.6%[15] - The company's total equity decreased to RMB 2,453,168,780.42 from RMB 2,526,337,948.75, reflecting a decline of approximately 2.9%[15] Cash Flow - Cash flow from operating activities in Q1 2025 was a net outflow of ¥276,283,635.13, an improvement from a net outflow of ¥358,258,437.75 in Q1 2024[20] - Cash flow from investing activities resulted in a net outflow of ¥7,465,814.20 in Q1 2025, compared to a net outflow of ¥2,564,504.47 in Q1 2024[21] - Cash flow from financing activities generated a net inflow of ¥56,029,897.61 in Q1 2025, up from ¥21,085,449.69 in Q1 2024[21] - Cash and cash equivalents as of March 31, 2025, were RMB 1,486,178,566.60, down from RMB 1,714,523,360.53, a decrease of about 13.3%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,041[10] - The top shareholder, Fan Yuan, holds 12.83% of the shares, totaling 13,125,717 shares[10] - The company reported a total of 13,125,717 shares held by the largest shareholder, Fan Yuan, representing a significant ownership stake[11] Research and Development - Research and development expenses totaled ¥97,869,088.51, a decrease of 27.42% from ¥134,843,611.13, with R&D expenses accounting for 31.46% of operating revenue, down from 48.02%[5] - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing cybersecurity solutions[22] Strategic Initiatives - The company is focusing on AI-driven core strategies and continuous product upgrades to enhance operational efficiency and profitability[8] - The company announced plans for a strategic acquisition of a smaller tech firm, expected to close by Q3 2025, which will enhance its product offerings[22] - The company aims to enter two new international markets by the end of 2025, targeting a revenue contribution of 100 million RMB from these markets[22] Market Performance - User data showed a growth of 30% in active users, totaling 1.2 million by the end of Q1 2025[22] - Market expansion efforts have led to a 10% increase in market share in the Asia-Pacific region[22] - The company provided a revenue guidance of 600 million RMB for Q2 2025, representing a 20% increase compared to Q2 2024[22] Profitability Metrics - The weighted average return on equity improved to -4.53%, up from -8.06%[5] - The gross margin improved to 45%, up from 40% in the previous year, due to cost optimization strategies[22] - Customer retention rate increased to 85%, reflecting improved service and product satisfaction[22]

Financial Performance - The company reported a significant increase in major accounting data for 2024 compared to 2023, with specific figures to be detailed in the financial report section[21]. - The company's operating revenue for 2024 was CNY 387,411,303.84, an increase of 8.77% compared to CNY 356,165,776.90 in 2023[23]. - The net profit attributable to shareholders for 2024 was CNY 56,168,149.88, a decrease of 33.26% from CNY 84,155,317.77 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 46,204,927.65, down 38.09% from CNY 74,630,297.18 in the previous year[25]. - The net cash flow from operating activities decreased by 81.26%, amounting to CNY 27,981,461.73 compared to CNY 149,288,530.45 in 2023[25]. - Basic earnings per share for 2024 were CNY 0.3321, a decline of 33.47% from CNY 0.4992 in 2023[24]. - The total assets at the end of 2024 were CNY 3,755,317,295.17, reflecting a 33.54% increase from CNY 2,812,072,607.81 in 2023[23]. - The company's net assets attributable to shareholders increased by 70.20% to CNY 3,425,332,272.82 from CNY 2,012,527,249.49 in the previous year[23]. - The company achieved a gross profit margin of 37.54% in the last fiscal year, down from 41.14% and 48.69% in the previous two years[101]. - The company reported a significant increase in financing activities, with net cash flow from financing activities rising by 159.79% to CNY 839.83 million[110]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 18,321,273.50, which accounts for 32.62% of the net profit attributable to shareholders for the year 2024[6]. - The company's total share capital will be adjusted accordingly if there are changes before the dividend distribution date, maintaining the per-share distribution ratio[6]. - The cash dividend amount (including tax) is CNY 18,321,273.50, which accounts for 32.62% of the net profit attributable to ordinary shareholders in the consolidated financial statements[184]. Governance and Compliance - The company has received a standard unqualified audit report from Tianheng Accounting Firm for the fiscal year[5]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has established a robust governance structure, ensuring compliance with legal requirements and protecting shareholder rights[146]. - The company has established a compensation and assessment committee to review the remuneration of directors and senior management[162]. - The company has implemented a stock incentive plan with 327,600 shares allocated, of which 91,700 shares have been vested[186]. - The company emphasizes its commitment to social responsibility, integrating ESG practices into daily operations and contributing to social progress[197]. - The governance structure has been enhanced to ensure effective decision-making and compliance with updated regulations, benefiting minority investors[198]. Market Expansion and Development - The company is currently in a phase of market expansion and is exploring new product and technology developments, although specific details are not disclosed in the summary[7]. - The company aims to achieve steady capacity ramp-up by 2025, further consolidating its supply chain advantages and market competitiveness[36]. - The company is actively pursuing market expansion and technological breakthroughs in the precision transmission field, addressing the need for high-performance components in the robotics sector[34]. - The company plans to expand its global presence in key markets such as Japan, Southeast Asia, North America, and Europe by 2024, enhancing local partnerships[141]. - The company is focusing on expanding its market presence in robotics, CNC machine tools, and medical devices through innovative product development[86]. Research and Development - The total R&D investment for the year was approximately ¥49.59 million, representing a 2.44% increase from the previous year's ¥48.41 million[82]. - R&D investment as a percentage of operating income decreased by 0.79 percentage points to 12.80% from 13.59% in the previous year[82]. - The company has developed new technologies such as integrated modules for robotic joints and high-response control pumps, enhancing product performance and stability[79]. - The company has established multiple research centers and partnerships with universities, enhancing its R&D capabilities in harmonic reducers and related technologies, holding 6 overseas patents and 209 domestic patents[92]. - The company is developing a new type of high-precision harmonic reducer with a total investment of $797.22 million, currently in the small-scale testing phase, targeting international advanced levels[86]. Risks and Challenges - The company faces risks from intensified market competition, particularly from international industry giants in the precision reducer sector[100]. - The company is exposed to foreign exchange risks due to overseas procurement and sales, which are typically priced in euros and US dollars[102]. - The hydraulic precision transmission industry in China is facing challenges such as reliance on imports for high-end products and insufficient innovation capabilities[58]. - The company needs to continuously upgrade its products and technologies to maintain competitiveness in the rapidly evolving market[100]. Employee and Operational Management - The total number of employees in the parent company and major subsidiaries is 823, with 681 in the parent company and 142 in subsidiaries[176]. - The company has a total of 641 production personnel, 26 sales personnel, 118 technical personnel, 8 financial personnel, and 30 administrative personnel[176]. - The average net profit growth rate for the company from 2020 to 2022 is 112.48%, with a net profit of CNY 155 million in 2022[190]. - The company provides various employee benefits, including commercial insurance, regular health check-ups, and sports facilities to enhance employee satisfaction[178]. - The company has established a salary management system and performance management system to motivate employees and align with market competition levels[178]. Product Development and Innovation - The company is focusing on the development of harmonic reducers, with a weight reduction of over 30% for humanoid robots while enhancing precision and lifespan of the reducers[34]. - The company has developed a new harmonic reducer product that meets or exceeds international leading levels in key performance indicators, based on innovative design theories and dynamic compensation methods[91]. - The company has developed high-end grinding equipment, including AGP (Adaptive Grinding and Polishing) tools and AES (Floating Electric Spindle), which are suitable for various applications such as grinding, polishing, and deburring[48]. - The company has developed a smart harmonic reducer design method that integrates MEMS thin-film strain and temperature sensors for real-time state perception and feedback, enhancing the overall performance of the reducer[64]. - The company has established a 3D simulation system for harmonic reducers, enabling efficient parameterized modeling and real-time dynamic simulation[76]. Financial Position and Assets - Cash and cash equivalents increased to 1,524,699,139.20 RMB, which is 40.60% of total assets, reflecting a 57.29% increase compared to the previous period[128]. - The company's accounts receivable rose to 146,535,614.07 RMB, representing 3.90% of total assets, with a 50.69% increase from the previous period[128]. - The company's total liabilities decreased significantly, with short-term borrowings down by 84.05% to 69,198,707.70 RMB[128]. - The capital reserve increased to 2,747,317,731.15 RMB, which is 73.16% of total assets, showing a 105.01% increase compared to the previous period[129]. - The company reported a total of 10,622,672.33 RMB in overseas assets, accounting for 0.28% of total assets[130].

Company Recognition and Awards - Nanjing Innovative Data Technologies, Inc. was recognized as a "Little Giant" enterprise by the Ministry of Industry and Information Technology[7]. - The company was awarded the runner-up position in the AIM National Roadshow Competition for the China region[11]. - The company was included in the list of typical application cases for advanced computing empowering new productivity by the Ministry of Industry and Information Technology[9]. Financial Performance - The company's operating revenue for 2024 was ¥50,400,843.87, a decrease of 82.95% compared to ¥295,659,389.16 in 2023[32]. - The net profit attributable to shareholders was -¥174,081,719.02, representing a decline of 189.56% from -¥60,120,358.78 in the previous year[32]. - The gross profit margin improved to 32.82% in 2024, up from 29.70% in 2023[32]. - Total assets decreased by 21.70% to ¥894,056,074.21 from ¥1,141,762,103.78 at the end of 2023[34]. - The total liabilities also fell by 21.92% to ¥262,277,906.79 compared to ¥335,902,217.34 in 2023[34]. - The net asset attributable to shareholders decreased by 21.60% to ¥631,778,167.42 from ¥805,859,886.44 in 2023[34]. - The operating cash flow turned positive at ¥69,832,426.87, a significant improvement from -¥93,613,533.81 in 2023[35]. - The revenue reported in the preliminary earnings announcement was revised down by 80.79% from ¥262,343,295.16 to ¥50,400,843.87 in the annual report[36]. - The company reported a basic earnings per share of -¥1.32, a decline of 193.33% from -¥0.45 in 2023[32]. Investigations and Audit Reports - The company received a "unable to express opinion" audit report from its accounting firm, indicating significant adjustments in financial data[17]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[29]. - The audit report indicates a disclaimer of opinion due to insufficient evidence related to the investigation, affecting the ability to provide a clear audit opinion on the financial statements[113]. - The audit report highlights the importance of addressing the investigation's implications to protect the interests of the company and its shareholders[112]. Shareholder and Ownership Structure - The company has a major shareholder, Zhang Zhen, and actual controllers include Zhang Zhen and Liu Peng[27]. - The total number of ordinary shares is 132,376,125[27]. - The largest shareholder, Zhang Zhen, holds 60,636,000 shares, representing 45.81% of the total shares[164]. - The second largest shareholder, Tongding Interconnection Information Co., Ltd., holds 14,007,407 shares, accounting for 10.58%[164]. - The total shares held by the top ten shareholders amount to 86,745,920, which is 65.53% of the total shares[165]. Research and Development - The company added 16 new patents in 2024, including 15 invention patents and 1 utility model patent[13]. - The company holds 74 authorized patents, 214 software copyrights, and 96 trademarks as of December 31, 2024[47]. - R&D expenditure amounted to ¥37,087,210.46, representing 73.58% of operating revenue, a significant increase from 24.41% in the previous period[98]. - The total number of R&D personnel decreased from 103 to 81, with R&D personnel now accounting for 71.5% of total employees, up from 68%[100]. - The company is developing a multi-source heterogeneous data storage architecture, which is expected to enhance big data storage and processing capabilities, expanding its market share[103]. Cash Flow and Liquidity - As of December 31, 2024, the company's cash balance was RMB 139,966,926.94, with short-term borrowings of RMB 140,428,240.77, indicating a significant liquidity issue[116]. - The company reported a net loss of RMB 174,081,700 for the reporting period, primarily due to lower business expansion and increased credit impairment losses[121]. - The company has significant receivables from a controlling shareholder amounting to RMB 534,510,902.38, which raises concerns about the recoverability of these amounts[116]. Strategic Focus and Market Position - The company is focusing on AI technology development and application, aiming to integrate AI with big data across various sectors[55]. - The company plans to leverage artificial intelligence and big data technologies to enhance its product offerings and support industry transformation[123]. - The company is committed to the digital transformation of traditional industries, supporting SMEs in their digital transition and enhancing product quality and brand recognition[127]. - The company is optimizing its strategy to focus on high-capital sectors, actively expanding its client base to include large enterprises and state-owned enterprises[129]. Internal Control and Governance - The company plans to strengthen internal controls and improve financial management to address the issues identified in the audit report[133]. - The company has established a communication mechanism to enhance management oversight of subsidiaries and ensure timely feedback on operational conditions[133]. - The company is committed to improving the accuracy and compliance of its financial disclosures through training for management and key personnel[133]. - The company has implemented a comprehensive employee training program, including onboarding and skills training, to enhance employee capabilities[200]. Employee and Management Changes - The total number of employees decreased from 144 to 119 during the reporting period, with a net reduction of 27 employees[199]. - The company has seen changes in key positions, including the appointment of a new financial head, Li Shujian[190]. - Liu Peng transitioned from General Manager to Chairman of the Board as part of the restructuring[190]. - Chen Zhihua was appointed as the new General Manager following the board restructuring[190].

Financial Performance - Revenue for the first quarter of 2025 was CNY 5,597,913.00, representing a 59.76% increase from CNY 3,504,006.65 in the same period of 2024[9] - Net loss attributable to shareholders for the first quarter of 2025 was CNY -6,091,309.86, an improvement of 14.63% compared to CNY -7,134,891.94 in Q1 2024[9] - The company's net profit was reported at -$11,101,846.61, worsening from -$6,654,157.99 in the previous period, reflecting ongoing challenges[13] - The company's net loss for Q1 2025 was reported at ¥386,304.21, reflecting a loss from investments in joint ventures[33] - The total comprehensive loss for Q1 2025 was -6,740,505.83, compared to -7,347,711.02 in Q1 2024, indicating an improvement of approximately 8.2%[34] Cash Flow - The net cash flow from operating activities for the first quarter of 2025 was CNY -11,810,520.17, showing an 85.74% improvement from CNY -82,815,500.38 in the same period last year[9] - The net cash flow from operating activities for Q1 2025 was -6,968,410.79 CNY, compared to -78,939,980.45 CNY in Q1 2024, indicating a significant improvement[41] - Cash inflow from operating activities in Q1 2025 was 16,265,920.68, significantly higher than 6,077,714.80 in Q1 2024, marking an increase of approximately 168%[38] - The total cash outflow from operating activities in Q1 2025 was 11,714,990.03 CNY, down from 80,493,880.90 CNY in Q1 2024[41] - The ending cash and cash equivalents balance for Q1 2025 was 47,629,912.43 CNY, down from 113,275,091.89 CNY in Q1 2024[41] Assets and Liabilities - Total assets as of March 31, 2025, were CNY 176,091,730.18, a decrease of 6.26% compared to CNY 187,851,106.16 at the end of 2024[9] - The company's total liabilities to assets ratio was 65.29% as of March 31, 2025, compared to 63.83% at the end of 2024[9] - The total liabilities were ¥114,972,956.80, compared to ¥119,911,390.78, reflecting a reduction of approximately 4.9%[29] - The company's equity attributable to shareholders decreased to ¥65,427,916.35 from ¥71,599,662.38, a decline of around 8.6%[29] - The total assets of the company decreased to ¥201,983,903.80 as of March 31, 2025, from ¥209,750,374.52 at the end of 2024, a reduction of 3.4%[32] Expenses - The company faced a substantial increase in operating expenses, with total operating costs reaching CNY 26,451,415.84, up from CNY 10,963,983.10 in the previous year[12] - The company reported a significant increase in sales expenses, which rose by 56.65% to CNY 1,291,886.43[10] - Total operating costs for Q1 2025 were ¥11,902,306.65, up from ¥10,963,983.10 in Q1 2024, reflecting a year-over-year increase of 8.6%[33] - The total operating expenses for the company were $27,152,855.75, down from $80,493,880.90 in the prior period, indicating cost management efforts[14] - The company's R&D expenses were $6,383,763.32, significantly higher than $2,340,090.13 in the prior period, highlighting a focus on innovation[13] Shareholder Information - The total number of ordinary shares at the end of the period was 66,999,900, with 69.99% being unrestricted shares[16] - The largest shareholder, Jin Wenming, holds 35.60% of the shares, with no changes in holdings during the period[17] - There were no pledges or judicial freezes on shares held by shareholders with more than 5% ownership[19] Regulatory and Compliance Issues - The company has acknowledged significant internal control deficiencies, leading to a disclaimer of opinion from the auditor regarding the financial statements for 2024[6] - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, which may lead to significant penalties[23] - The company has committed to timely disclosures regarding significant related party transactions, with a follow-up announcement scheduled for April 29, 2025[21]

Financial Performance - The company's operating revenue for 2024 was CNY 4,133,844,642.75, a decrease of 32.26% compared to CNY 6,102,836,313.32 in 2023[27]. - The net profit attributable to shareholders of the listed company was CNY -286,819,081.03, representing a decline of 283.52% from CNY 156,286,187.10 in the previous year[27]. - The net cash flow from operating activities increased by 68.49% to CNY 455,369,944.87, up from CNY 270,269,274.47 in 2023[27]. - The total assets at the end of 2024 were CNY 11,281,245,827.74, a decrease of 3.68% from CNY 11,712,547,347.53 in 2023[27]. - The net assets attributable to shareholders of the listed company decreased by 17.61% to CNY 1,539,284,389.77 from CNY 1,868,241,593.24 in 2023[27]. - Basic earnings per share were -2.07 yuan, a decline of 285.44% compared to 1.12 yuan in 2023[29]. - The weighted average return on equity decreased to -16.89%, down 25.60 percentage points from 8.70% in 2023[29]. - The gross profit margin in the construction decoration industry was 10.46%, down by 4.28 percentage points year-on-year[101]. - The financial expenses increased by 8.85% to 101.12 million RMB, indicating rising costs in financing[99]. - Research and development expenses decreased by 43.13% to 70.11 million RMB, reflecting a strategic adjustment in response to market conditions[99]. Strategic Focus and Development - The company is focusing on high-quality development by enhancing accounts receivable management and improving project selection criteria[38]. - The company aims to build a "green and intelligent full industry chain sample enterprise" and is concentrating on urban renewal and supporting urban development[38]. - The company is focusing on urban renewal projects such as the renovation of old residential areas, protection and repair of historical buildings, and construction of affordable housing, which are expected to drive sustainable high-quality development[41]. - The company is committed to accelerating its green and smart transformation, focusing on the integration of smart construction and digital transformation in the building industry[57]. - The company aims to achieve a significant increase in energy-efficient buildings, with a target of over 20 million square meters of new ultra-low energy and nearly zero energy buildings by 2025, compared to 2023[133]. - The company plans to enhance its production capacity in green building materials, including photovoltaic curtain walls and energy-saving windows, to establish a demonstration base for green building materials[138]. - The company is committed to achieving a "zero waste" goal through lean construction, integrating advanced technologies like BIM, VR, AR, and AI to optimize cost and quality[140]. - The company is actively pursuing urban renewal projects as part of its strategic focus, aligning with national policies for sustainable urban development[131]. Market Expansion and Innovation - The company has actively expanded its market presence in first-tier cities like Shenzhen and Shanghai, achieving significant breakthroughs in project acquisition, including the Shenzhen Baoan Air-Sea Rescue Hospital and Shenzhen University of Technology construction projects[53]. - The company is expanding its marketing network across major economic regions in China, including Beijing, Shanghai, and Shenzhen, to increase its market share[92]. - The company is likely to pursue further market expansion given the recent appointments and restructuring of its management team[183]. - The company plans to initiate a new round of share repurchases with an estimated amount between CNY 35 million and CNY 70 million in response to the new "National Nine Articles" policy[66]. - The company is considering strategic acquisitions to bolster its market position[179]. - A new product line is set to launch in Q3 2024, targeting a 15% market share within the first year[178]. Governance and Management - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, to enhance governance[190][191]. - The board of directors held 7 meetings during the reporting period, with all meetings conducted in compliance with legal requirements[168]. - The supervisory board conducted 4 meetings, ensuring oversight of management and financial conditions without any reported irregularities[169]. - The company maintains transparent information disclosure practices, ensuring all shareholders have equal access to relevant information[172]. - The company emphasizes investor relations management, actively engaging with the capital market through various channels to ensure fair and transparent information disclosure[174]. - The company has approved the financial settlement report for the year 2023 during the shareholders' meeting[174]. - The company has established a dynamic balance between external competitiveness and internal equity in its compensation structure[200]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, particularly in the construction industry, and plans to improve internal management to mitigate these risks[154]. - Rising labor and material costs are becoming the norm in the construction and decoration industry, with profit margins trending towards minimal levels[160]. - The company is managing high asset-liability ratios by optimizing its financing structure and improving project profitability to ensure financial stability[157]. - The company is addressing accounts receivable risks by tightening order selection and enhancing collection efforts to improve cash flow[156]. - There is a growing demand for talent in architectural design, project management, and supporting services, posing potential risks in stabilizing core technical and management personnel[159]. Employee and Leadership Structure - The company has a total of 1,781 employees, with 850 in the parent company and 931 in major subsidiaries[198]. - The employee composition includes 852 engineering personnel and 308 technical personnel, indicating a strong focus on technical and engineering capabilities[198]. - The company has expanded its leadership team with new appointments in 2023, reflecting ongoing growth and strategic direction[181]. - The ongoing involvement of experienced professionals in financial roles suggests a focus on maintaining robust financial health and compliance[183]. - The diverse roles held by executives suggest a broad expertise in investment and construction management[181].