Financial Performance - The company's operating revenue for Q1 2025 was ¥127,454,602.98, a decrease of 28.88% compared to the same period last year[4] - Net profit attributable to shareholders was ¥3,568,395.59, representing a significant increase of 121.24% year-over-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,252,870.94, up 106.62% from the previous year[4] - Basic and diluted earnings per share were both ¥0.02, reflecting a 122.22% increase compared to -¥0.09 in the previous year[4] - The net profit for the first quarter of 2025 was CNY 3,568,395.59, compared to a net loss of CNY 16,861,026.10 in the same period of 2024, indicating a significant recovery[19] - The total comprehensive income for the first quarter of 2025 was CNY 4,039,991.36, compared to a total comprehensive loss of CNY 16,861,026.10 in the first quarter of 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥10,711,910.87, an 83.52% reduction in cash outflow compared to the same period last year[4] - Operating cash flow for the first quarter of 2025 was negative CNY 10,711,910.87, an improvement from negative CNY 64,982,668.10 in the first quarter of 2024[21] - Cash inflow from operating activities totaled CNY 130,013,055.60 in the first quarter of 2025, down from CNY 226,049,900.53 in the first quarter of 2024[20] - Cash outflow from operating activities was CNY 140,724,966.47 in the first quarter of 2025, compared to CNY 291,032,568.63 in the first quarter of 2024[21] - The cash and cash equivalents at the end of the first quarter of 2025 were CNY 614,765,074.72, down from CNY 636,514,145.34 at the end of the first quarter of 2024[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,422,375,458.34, a decrease of 2.92% from the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 1,422,375,458.34, down from CNY 1,465,151,807.70 at the end of 2024[15] - Total liabilities decreased to CNY 398,755,574.58 from CNY 445,836,095.19, a reduction of approximately 10%[14] - Shareholders' equity attributable to shareholders increased slightly to ¥1,023,619,883.76, up 0.42% from the previous year[5] Operating Performance - Total revenue for Q1 2025 was CNY 127,454,602.98, a decrease of 29% compared to CNY 179,202,955.04 in Q1 2024[16] - Total operating costs for Q1 2025 were CNY 125,296,484.88, down 36% from CNY 195,934,002.74 in Q1 2024[16] - Operating income for Q1 2025 was CNY 2,158,118.10, compared to a loss in Q1 2024[16] - The company reported a net profit margin improvement due to reduced operating costs despite lower revenue[16] Research and Development - Research and development expenses for Q1 2025 were CNY 5,404,701.70, down from CNY 8,745,285.10 in Q1 2024, reflecting a decrease of about 38%[16] Non-Recurring Items - Non-recurring gains and losses totaled ¥2,315,524.65, primarily from government subsidies and other income[6] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,940[9] Investment Activities - The company reported investment cash inflow of CNY 572,316,072.80 in the first quarter of 2025, compared to CNY 360,087,999.69 in the first quarter of 2024[21] - The net cash flow from investment activities was CNY 1,505,675.62 in the first quarter of 2025, compared to CNY 169,642,685.72 in the first quarter of 2024[21] Mergers and Acquisitions - The company did not execute any mergers or acquisitions during the reporting period[22]

Dividend Distribution - The proposed cash dividend distribution is 0.8 CNY per 10 shares, totaling 60,807,649.04 CNY (including tax) for the year 2024, which accounts for 60.15% of the net profit attributable to shareholders [6]. - The total cash dividend for 2024, including the mid-year dividend of 251,408,449.24 CNY, amounts to 312,216,098.28 CNY (including tax) [6]. - The company implemented a mid-term dividend of 251 million yuan in 2024, with a commitment to maintain a minimum of 50% of net profit as cash dividends from 2024 to 2026 [91]. - The cumulative cash dividend over the last three accounting years was CNY 990,583,068 [191]. - The average net profit over the last three accounting years was CNY 744,349,352, resulting in a cash dividend ratio of 133.08% [191]. Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year 2024, representing a year-over-year growth of 15% [16]. - The company's operating revenue for 2024 was CNY 22,357,610,195, a slight decrease of 0.36% compared to 2023 [24]. - Net profit attributable to shareholders decreased by 44.13% to CNY 519,063,405, primarily due to the increase in the number of new stores and goodwill impairment losses [26]. - The net cash flow from operating activities fell by 25.77% to CNY 2,026,458,797, attributed to reduced cash receipts from sales and increased payroll expenses from new store openings [26]. - Basic earnings per share dropped by 44.72% to CNY 0.68, reflecting the overall decline in profitability [25]. - The weighted average return on equity decreased to 7.84%, down from 13.91% in the previous year, indicating a significant reduction in efficiency [25]. Market Expansion and Strategy - The company plans to expand its market presence by opening 50 new stores across various provinces in 2024 [16]. - A strategic acquisition of a regional pharmacy chain is anticipated to enhance distribution capabilities and increase market share by 10% [16]. - The company aims to enhance its online-to-offline (O2O) model, targeting a 30% increase in online sales by the end of 2024 [16]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years [160]. - The company is exploring potential mergers and acquisitions to enhance growth opportunities [158]. Risk Management - The company has reported no significant risks that could materially affect its operations during the reporting period [8]. - The company has detailed various risks and countermeasures in the management discussion and analysis section of the report [8]. - The company emphasizes the importance of investor awareness regarding investment risks related to forward-looking statements [7]. - The company faces industry policy risks due to increasing regulatory scrutiny in the pharmaceutical retail sector, which could adversely affect its development if not managed properly [144]. - To mitigate market competition risks, the company will continue its digital transformation and improve operational efficiency through AI and big data technologies [144]. Operational Efficiency - The gross margin for the last quarter was reported at 35%, a slight improvement from 33% in the previous year [16]. - The company has allocated RMB 100 million for research and development in new drug formulations and delivery systems [16]. - The company reduced inventory turnover days to 94 days by the end of 2024, a decrease of 4 days year-on-year, while the proportion of centralized procurement sales increased to 72.4% [86]. - The company completed 479 non-operational procurement projects in 2024, achieving a cost reduction of over 16 million yuan, with a reduction rate of over 7% [86]. - The company is enhancing its quality and compliance management systems, establishing a four-level quality management structure [98]. Customer Engagement and Satisfaction - User data indicates an increase in active customers by 20% to 3 million in the last quarter [16]. - The company’s total membership reached 99.65 million by the end of 2024, with 30.34 million active members and a membership sales contribution exceeding 75% [90]. - Customer satisfaction ratings have improved, with a reported 90% satisfaction rate in recent surveys [160]. - The company has established a smart chronic disease management service system, with over 18.12 million people registered for chronic disease management services and 99.23 million self-testing services provided by the end of 2024 [82]. Corporate Governance - The company held 4 shareholder meetings during the reporting period, ensuring compliance with legal requirements and maintaining transparency in decision-making processes [149]. - The company disclosed a total of 89 announcements during the reporting period, adhering to legal obligations for accurate and timely information disclosure [150]. - The company has undergone a board election, resulting in the appointment of new directors including Xie Jiaqi and Liu Xiaoen [165]. - The company is committed to aligning its compensation practices with shareholder interests through board approval processes [164]. - The company continues to focus on governance and compliance through regular board elections and management reviews [165]. Research and Development - The company has invested 1.23 million RMB in environmental protection during the reporting period [199]. - Research and development expenses totaled 136,011,931, representing 0.61% of total revenue, with 98.52% of R&D costs capitalized [115]. - Investment in R&D has increased by 30%, focusing on innovative technologies and product development [161]. - The number of R&D personnel is 434, making up 1.08% of the total workforce [116]. - The company has developed 1,900 courses on its learning platform, with a total of over 769 million learning instances [179].

Financial Performance - The company's operating revenue for 2024 was CNY 867,100,417.4, representing an increase of 87.21% compared to CNY 463,179,522 in 2023[22] - The net profit attributable to shareholders of the listed company for 2024 was a loss of CNY 11,534,994.4, a decrease of 287.86% from a profit of CNY 6,140,339 in 2023[22] - The cash flow from operating activities for 2024 was a negative CNY 69,805,169.7, worsening by 20.24% compared to a negative CNY 58,056,803 in 2023[22] - The total assets at the end of 2024 were CNY 1,465,151,807, a decrease of 6.28% from CNY 1,563,349,555.72 at the end of 2023[23] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was a loss of CNY 26,030,887.9, an improvement of 50.60% from a loss of CNY 52,696,940 in 2023[22] - The company reported a decrease in net assets attributable to shareholders of CNY 1,019,315,712, down 1.19% from CNY 1,031,576,183.08 in 2023[23] - Basic earnings per share fell by 300.00% to -0.06 yuan, primarily due to a capital increase that diluted earnings[25] - The weighted average return on equity decreased by 1.72 percentage points to -1.13%[24] - The net cash flow from operating activities was -64.98 million yuan, indicating cash outflow during the period[28] Dividend Policy - The company will not distribute cash dividends or issue bonus shares for the 2024 fiscal year due to a negative net profit[6] - The company’s annual cash dividend amount should not be less than 20% of the distributable profit for the year[122] - In a mature stage without significant capital expenditure, the minimum cash dividend ratio should reach 80%[122] - In a growth stage with significant capital expenditure, the minimum cash dividend ratio should be 20%[122] - The board of directors must propose a differentiated cash dividend policy based on industry characteristics and financial conditions[122] - The profit distribution policy cannot be changed arbitrarily and requires a special resolution from the shareholders' meeting for any adjustments[125] - The company plans to actively implement cash dividends after covering losses and allocating statutory reserves, with specific conditions outlined for special circumstances[144] Operational Developments - The company successfully developed two new clients, Chery Jietu and Fuzhou Diyuan Taishan You, contributing to new business growth[34] - The company added 12 new patents in 2024, bringing the total to 28 invention patents and 121 utility model patents[35] - The company implemented cost reduction and efficiency enhancement measures to improve operational performance[34] - The company is focusing on market expansion and strengthening relationships with existing customers to boost business volume[34] - The company achieved operating revenue of ¥867.1 million, an increase of 87.21% year-on-year, driven by increased customer orders[44] - The company's main business income rose to ¥755.9 million, up 80.52% compared to the previous year, while the main business cost increased to ¥716.7 million, up 80.58%[46] - The company implemented 154 targeted improvement activities, resulting in cost savings exceeding ¥10 million[36] - The company maintained a product quality pass rate of 99.91%, ensuring high standards in production[43] Market and Industry Outlook - In 2024, China's automobile production and sales are expected to reach 31.282 million and 31.436 million units, respectively, representing year-on-year growth of 3.7% and 4.5%[73] - New energy vehicles (NEVs) are projected to achieve production and sales of 12.888 million and 12.866 million units, with year-on-year growth of 34.4% and 35.5%, making up 40.9% of total new car sales, an increase of 9.3 percentage points from 2023[76] - The automotive export volume is expected to reach 5.859 million units in 2024, reflecting a year-on-year increase of 19.3%[76] Risk Management - The company has acknowledged the existence of non-operating fund occupation by controlling shareholders[8] - The company has outlined potential risks in its future development strategy, which investors should be aware of[7] - The company faces risks related to raw material price fluctuations, which significantly impact gross margins and overall performance[81] - The company plans to implement a comprehensive internal control system to manage risks effectively, particularly in investment, internal audit, finance, legal, and securities departments[82] Governance and Compliance - The company has established a clear governance structure with a board of directors, supervisory board, and management team operating independently[90] - The company has a commitment to maintaining its independence in operations, finance, and governance, as outlined in its corporate structure[90] - The company has implemented a complete financial accounting system and independent financial decision-making, with no shared bank accounts with the controlling shareholder[90] - The company has established a strict internal control management system to ensure compliance and asset safety[129] - The audit report confirms that the financial statements fairly reflect the company's financial position and results of operations for the year ended December 31, 2024[184] Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 552, with 338 in production, 28 in sales, 91 in technical roles, and 10 in finance[116] - The company is committed to continuous employee training and development, aligning with its growth strategy[119] - The company is actively recruiting and training talent to build a diverse talent pool aligned with future strategic development needs[78] Environmental Responsibility - The company invested 260,000 RMB in environmental protection during the reporting period[132] - The company has not experienced any major environmental violations or received administrative penalties during the reporting period[133] - The measured emission concentration of nitrogen oxides was 12 mg/m³, well below the limit of 180 mg/m³[134] - The average discharge concentration of chemical oxygen demand was 97.2 mg/L, significantly below the limit of 500 mg/L[134] - The company has implemented a 3.5 MW distributed photovoltaic power station to reduce carbon emissions[142]

Financial Performance - The company's operating revenue for Q1 2025 was ¥60,839,746.91, representing a decrease of 6.05% compared to ¥64,758,238.61 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥5,836,666.46, an improvement from a loss of ¥12,182,096.45 in the previous year[4] - The total revenue for Q1 2025 was approximately ¥82.03 million, an increase of 4.0% compared to ¥78.47 million in Q1 2024[25] - The net profit for Q1 2025 was a loss of ¥5.84 million, improving from a loss of ¥12.19 million in Q1 2024, representing a 52.0% reduction in losses[22] - The total comprehensive income attributable to the parent company for Q1 2025 was -¥5.84 million, compared to -¥11.90 million in Q1 2024, indicating a significant improvement[23] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥2,634,025.03, worsening from a negative cash flow of ¥571,495.31 in the same period last year[4] - The net cash flow from operating activities for Q1 2025 was -¥2.63 million, worsening from -¥0.57 million in Q1 2024[26] - Cash and cash equivalents decreased by 31.42%, mainly due to payments for goods and daily operating expenses[8] - Cash and cash equivalents at the end of Q1 2025 were ¥22.91 million, down from ¥61.42 million at the end of Q1 2024[27] - The cash flow from financing activities in Q1 2025 resulted in a net outflow of ¥8.05 million, compared to a net outflow of ¥6.32 million in Q1 2024[27] Assets and Liabilities - The total assets decreased by 8.59% to ¥306,448,952.93 from ¥335,243,544.19 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 306,448,952.93, down from CNY 335,243,544.19 as of December 31, 2024[17] - Total liabilities decreased to CNY 47,679,998.42 from CNY 71,035,021.66, a reduction of 32.9%[17] - The company’s equity attributable to shareholders was CNY 258,604,816.07, down from CNY 264,041,958.35[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,006[11] - The largest shareholder, Jiangsu Huaying Enterprise Management Co., Ltd., holds 62,159,500 shares, accounting for 17.30% of total shares[11] - The company’s controlling shareholder, Jiangsu Huaying, is in the process of transferring shares, which will increase its holding to 29.9989%[13] Operational Metrics - Total operating costs for Q1 2025 were CNY 69,875,440.86, down 13.0% from CNY 80,308,798.21 in Q1 2024[21] - Operating profit for Q1 2025 was a loss of CNY 7,180,206.37, an improvement from a loss of CNY 15,000,412.91 in Q1 2024[21] - The company incurred operating expenses of ¥84.97 million in Q1 2025, compared to ¥79.53 million in Q1 2024, reflecting a 6.0% increase[26] Tax and Non-Recurring Items - The company reported non-recurring gains of ¥29,573.67, primarily from government subsidies and other non-operating income[7] - The company reported a tax expense of -¥1.33 million in Q1 2025, down from -¥2.82 million in Q1 2024, indicating a reduction in tax liabilities[22] Other Notable Events - The company has received a notice regarding the detention of its actual controller, which may pose investment risks[13] - The basic and diluted earnings per share for Q1 2025 were both -¥0.0162, compared to -¥0.0338 in Q1 2024[23] - Accounts receivable decreased to CNY 69,524,124.75 from CNY 86,558,019.00, a reduction of 19.7%[14] - The company reported a total of ¥15,500 in cash inflow from investment activities in Q1 2025, compared to a cash outflow of ¥2,543 in Q1 2024[26]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 362,003,516.15, representing a year-on-year increase of 5.63% compared to CNY 342,713,197.34 in the same period last year[4] - Net profit attributable to shareholders for the same period was CNY 54,290,988.62, marking a significant increase of 28.76% from CNY 42,165,807.88 in the previous year[4] - Basic and diluted earnings per share were both CNY 0.21, reflecting a growth of 31.25% from CNY 0.16 in the same period last year[4] - Total operating revenue for Q1 2025 reached RMB 362,003,516.15, an increase of 5.3% compared to RMB 342,713,197.34 in Q1 2024[14] - Net profit for Q1 2025 was RMB 56,274,775.11, up 27.4% from RMB 44,175,364.10 in Q1 2024[14] - Basic earnings per share for Q1 2025 were RMB 0.21, compared to RMB 0.16 in Q1 2024, representing a growth of 31.3%[15] Cash Flow - The net cash flow from operating activities reached CNY 142,901,371.54, which is a 26.14% increase compared to CNY 113,289,426.69 in the previous year[4] - Cash inflow from operating activities for Q1 2025 was RMB 394,510,301.09, an increase of 10.7% from RMB 356,478,832.47 in Q1 2024[17] - The net cash flow from operating activities was $142,901,371.54, an increase of 26.2% compared to $113,289,426.69 in the previous period[18] - The company reported a total cash outflow from operating activities of $251,608,929.55, which is an increase of 3.5% from $243,189,405.78[18] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,459,682,995.24, an increase of 5.48% from CNY 1,383,889,809.13 at the end of the previous year[5] - Total assets as of March 31, 2025, amounted to RMB 1,459,682,995.24, compared to RMB 1,383,889,809.13 at the end of 2024, representing a growth of 5.5%[12] - Total liabilities increased to RMB 241,554,014.87 as of March 31, 2025, from RMB 204,359,564.37 at the end of 2024, marking an increase of 18.2%[12] - The company's total equity increased to RMB 1,218,128,980.37 as of March 31, 2025, from RMB 1,179,530,244.76 at the end of 2024, indicating a growth of 3.3%[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,425[8] - The largest shareholder, Hengjia Shike International (Hong Kong) Limited, holds 69,207,200 shares, accounting for 26.99% of the total shares[8] - The company has not reported any significant changes in shareholder participation in financing or securities lending activities during the reporting period[9] Government Subsidies and R&D - The company received government subsidies amounting to CNY 2,314,935.87, which are closely related to its normal business operations[6] - Research and development expenses increased significantly to RMB 14,685,782.42 in Q1 2025, compared to RMB 7,768,117.91 in Q1 2024, reflecting a growth of 89.5%[14] Cash and Investment Activities - The company's cash and cash equivalents rose to RMB 469,133,072.74 by March 31, 2025, compared to RMB 351,983,839.86 at the end of 2024, reflecting a growth of 33.3%[12] - Cash inflow from investment activities totaled $125,597,534.24, down 50.2% from $252,184,527.40 in the prior period[18] - The net cash flow from investment activities was -$21,849,642.56, a significant decline from $1,273,918.19 previously[18] - The company received $120,000,000.00 related to investment activities, a decrease of 52% from $250,000,000.00 in the previous period[18] Accounting Standards - The company will not apply new accounting standards starting from 2025[19]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 975,945,657.89, representing a 4.68% increase compared to CNY 932,274,542.15 in the same period last year[3]. - Net profit attributable to shareholders was CNY 36,643,128.03, up 11.47% from CNY 32,871,852.91 year-on-year[3]. - Operating profit for Q1 2025 was CNY 46,815,362.92, compared to CNY 38,060,807.50 in Q1 2024, indicating a growth of 23.1%[17]. - The net profit for Q1 2025 was CNY 38,629,163.62, an increase of 20.5% compared to CNY 32,124,942.63 in Q1 2024[18]. - The company’s total comprehensive income for Q1 2025 was CNY 38,629,163.62, reflecting a strong performance compared to CNY 32,124,942.63 in Q1 2024[18]. Cash Flow and Liquidity - The net cash flow from operating activities decreased to -CNY 248,185,115.29, compared to -CNY 93,678,459.65 in the previous year, indicating increased inventory and procurement payments[3][6]. - The net cash flow from operating activities for Q1 2025 was -CNY 248,185,115.29, compared to -CNY 93,678,459.65 in Q1 2024, indicating a worsening cash flow situation[21]. - Cash and cash equivalents decreased to CNY 257,930,365.28 as of March 31, 2025, down from CNY 575,378,260.44 at the end of 2024, a decline of 55.2%[12]. - The cash and cash equivalents at the end of Q1 2025 were CNY 181,957,308.20, a decrease from CNY 422,114,327.86 at the end of Q1 2024[22]. - The company reported a net cash outflow from investing activities of -CNY 53,455,257.69 in Q1 2025, compared to a net inflow of CNY 62,757,213.31 in Q1 2024[22]. - The total cash inflow from financing activities in Q1 2025 was CNY 409,252,966.22, an increase from CNY 321,312,537.58 in Q1 2024[22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,893,670,953.58, a decrease of 1.15% from CNY 10,008,656,390.82 at the end of the previous year[4]. - Total assets amounted to CNY 9,893,670,953.58 as of March 31, 2025, a decrease from CNY 10,008,656,390.82 at the end of 2024, a decline of 1.1%[13]. - Total liabilities decreased to CNY 6,158,930,878.94 as of March 31, 2025, down from CNY 6,312,580,479.80 at the end of 2024, a reduction of 2.4%[14]. - Shareholders' equity increased to CNY 3,734,740,074.64 as of March 31, 2025, compared to CNY 3,696,075,911.02 at the end of 2024, an increase of 1.0%[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,420[8]. - The top five shareholders collectively hold 66.66% of the company's shares, indicating a concentrated ownership structure[9]. - The company repurchased 2,526,438 shares, accounting for 0.51% of the total share capital[9]. Costs and Expenses - Total operating costs for Q1 2025 were CNY 925,410,331.43, slightly up from CNY 915,854,198.31 in Q1 2024, reflecting a cost increase of 1.6%[17]. - Research and development expenses for Q1 2025 were CNY 26,780,482.83, down from CNY 33,465,298.23 in Q1 2024, a decrease of 20.0%[17]. - The total operating expenses for Q1 2025 were CNY 769,289,931.02 after accounting policy adjustments, compared to CNY 758,953,447.53 before adjustments[22]. Earnings Per Share - Basic and diluted earnings per share decreased by 12.50% to CNY 0.07 from CNY 0.08 in the previous year[3]. - The company’s basic earnings per share for Q1 2025 was CNY 0.07, a decrease from CNY 0.08 in Q1 2024[18]. Non-Recurring Items - Non-recurring gains and losses amounted to CNY 808,098.25, primarily from government subsidies and the reversal of bad debt provisions[5].

Financial Performance - The company's operating revenue for Q1 2025 was ¥68,454,027.98, representing a 96.38% increase compared to ¥34,857,185.70 in the same period last year[5]. - The net profit attributable to shareholders was -¥28,366,761.03, compared to -¥23,145,748.96 in the previous year, indicating a continued loss[5]. - The net cash flow from operating activities was -¥44,940,281.62, a decline from -¥28,279,574.46 year-on-year, primarily due to reduced cash collections[5][10]. - The basic and diluted earnings per share were both -¥0.1091, compared to -¥0.089 in the same period last year[5]. - The weighted average return on net assets was -12.45%, a significant decline from -0.06% in the previous year[5]. - Net loss for Q1 2025 was ¥29,908,171.64, compared to a net loss of ¥23,532,869.16 in Q1 2024, representing a 27.1% increase in losses[24]. - Operating profit for Q1 2025 was -¥29,882,706.38, worsening from -¥23,476,546.09 in Q1 2024[23]. Revenue and Costs - The increase in operating revenue was mainly attributed to higher sales volume during the reporting period[10]. - Total operating costs for Q1 2025 were ¥100,001,124.44, up 62.4% from ¥61,538,627.76 in Q1 2024[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,181,242,778.70, a 1.74% increase from ¥1,160,993,983.43 at the end of the previous year[6]. - The total liabilities amount to 735,538,203.00 RMB, compared to 722,073,939.28 RMB, showing a slight increase[18]. - Total liabilities as of the reporting date were ¥929,366,165.95, an increase from ¥877,153,535.70 in the previous period[19]. - The equity attributable to shareholders decreased by 12.34% to ¥213,675,682.01 from ¥243,742,828.45 at the end of the previous year[6]. - Current assets total 608,833,356.08 RMB, compared to 565,152,219.07 RMB previously, reflecting a growth of approximately 7.5%[17]. - The company's inventory stands at 216,902,986.45 RMB, up from 207,089,492.52 RMB, indicating an increase of about 4%[17]. - Short-term borrowings decreased to 105,799,736.10 RMB from 122,750,271.61 RMB, a reduction of approximately 13.8%[18]. - The company has a long-term loan of 105,300,000.00 RMB, which increased from 65,500,000.00 RMB, reflecting a growth of approximately 60.8%[18]. Cash Flow - Cash inflow from operating activities in Q1 2025 totaled ¥71,277,003.80, an increase from ¥59,853,420.94 in Q1 2024[26]. - Cash paid for goods and services in Q1 2025 was ¥77,610,616.70, up from ¥48,132,390.22 in Q1 2024[26]. - Total cash outflow from operating activities amounted to $116,217,285.42, up from $88,132,995.40, reflecting increased operational expenses[27]. - The net cash flow from financing activities was $55,864,618.89, compared to $22,945,303.59 previously, indicating improved capital management[27]. - The company reported a net increase in cash and cash equivalents of $9,462,244.92, contrasting with a decrease of $19,065,929.19 in the previous period[27]. - The ending balance of cash and cash equivalents was $38,175,713.47, down from $48,837,597.33, suggesting a reduction in liquidity[27]. - Cash paid for operating activities related to employees was $23,318,442.80, an increase from $19,799,081.36, indicating higher labor costs[27]. - Cash paid for taxes was $3,094,004.47, a decrease from $3,755,010.24, reflecting potential tax efficiency[27]. - Cash outflow for investment activities was $1,462,092.35, significantly lower than $18,736,458.32, indicating reduced capital expenditures[27]. Shareholder Information - The total number of ordinary shares at the end of the reporting period is 31,013[12]. - The largest shareholder, Starlight Agricultural Science Holdings Group, holds 44,149,832 shares, accounting for 16.3% of total shares[12]. Research and Development - The company has ongoing research and development efforts, although specific new products or technologies were not detailed in the provided content[12]. - The company reported a significant increase in research and development expenses, totaling ¥3,533,468.40 in Q1 2025 compared to ¥4,009,771.13 in Q1 2024[23]. Accounting Policies - The company is adjusting its accounting policies in accordance with the new guidelines issued by the Ministry of Finance, which may impact future financial reporting[6]. - The company will not apply new accounting standards starting from 2025, maintaining current reporting practices[28].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,157,139,176.38, a decrease of 1.47% compared to CNY 1,174,404,536.54 in the same period last year[4] - Net profit attributable to shareholders was CNY 180,945,694.41, reflecting a slight increase of 0.49% from CNY 180,055,871.68 year-on-year[4] - Basic earnings per share for the period were CNY 0.42, an increase of 2.44% compared to CNY 0.41 in the previous year[4] - The weighted average return on equity rose to 5.79%, an increase of 0.88 percentage points from 4.91%[4] - The company reported a total of CNY 16,754,962.01 in non-recurring gains and losses for the period[6] - Total operating revenue for Q1 2025 was ¥1,157,139,176.38, a decrease of 1.9% from ¥1,174,404,536.54 in Q1 2024[15] - Net profit for Q1 2025 was ¥180,945,694.41, slightly up from ¥180,055,871.68 in Q1 2024, reflecting a growth of 0.5%[16] - Earnings per share for Q1 2025 were ¥0.42, compared to ¥0.41 in Q1 2024, indicating a 2.4% increase[16] Assets and Equity - The total assets at the end of the reporting period were CNY 3,848,759,237.70, up 1.93% from CNY 3,775,975,557.52 at the end of the previous year[5] - The equity attributable to shareholders increased by 5.97% to CNY 3,213,431,538.59 from CNY 3,032,485,844.18[5] - Total assets as of the end of the reporting period were ¥3,848,759,237.70, an increase from ¥3,775,975,557.52[12] - Total equity increased to ¥3,213,431,538.59 from ¥3,032,485,844.18, marking an increase of 6.0%[12] Cash Flow - The net cash flow from operating activities increased by 34.19%, reaching CNY 319,106,496.89, primarily due to a reduction in raw material procurement payments[4][6] - In Q1 2025, the net cash flow from operating activities was CNY 319,106,496.89, an increase of 34.1% compared to CNY 237,805,009.33 in Q1 2024[18] - Cash inflow from operating activities totaled CNY 1,331,552,949.29, slightly down from CNY 1,332,288,554.68 in the previous year[18] - Cash outflow from operating activities decreased to CNY 1,012,446,452.40 from CNY 1,094,483,545.35, reflecting a reduction of 7.5%[18] - The cash flow from operating activities was primarily driven by a decrease in cash paid for goods and services, which fell to CNY 400,837,091.81 from CNY 545,459,019.73[18] Investment and Financing Activities - The net cash flow from investing activities was negative at CNY -157,837,711.37, a significant decline from CNY 416,418,193.82 in Q1 2024[19] - Cash inflow from investing activities was CNY 554,721,693.11, down from CNY 1,058,887,776.38 year-over-year[19] - The company reported a cash outflow from financing activities of CNY 2,560,920.00, compared to CNY 5,266,013.68 in the same period last year[19] - The company received CNY 548,271,865.56 from investment recoveries, a decrease from CNY 1,049,375,676.01 in the previous year[19] Research and Development - Research and development expenses for Q1 2025 were ¥19,259,397.88, up from ¥18,232,645.91 in Q1 2024, reflecting a growth of 5.6%[15] Government Subsidies - The company received government subsidies amounting to CNY 16,344,224.82, which positively impacted its financial performance[6] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,904, with the largest shareholder holding 80.99% of the shares[7] Exchange Rate Impact - The company experienced a negative impact of CNY -15,835.08 from exchange rate fluctuations on cash and cash equivalents[19]

Financial Performance - The company's operating revenue for 2024 was CNY 1,066,804,458.54, a decrease of 11.04% compared to CNY 1,199,129,560.37 in 2023[25] - Net profit attributable to shareholders for 2024 was CNY 54,640,602.71, an increase of 14.34% from CNY 47,789,898.89 in 2023[25] - The net profit excluding non-recurring gains and losses was CNY 46,901,736.80, reflecting a significant increase of 34.58% compared to CNY 34,851,685.49 in 2023[25] - Cash flow from operating activities reached CNY 175,795,378.83, a substantial increase of 291.39% from CNY 44,915,693.95 in 2023[25] - Basic earnings per share increased by 10.53% to CNY 0.21 in 2024 compared to CNY 0.19 in 2023[26] - The weighted average return on equity rose to 4.87% in 2024, up from 4.30% in 2023, an increase of 0.57 percentage points[26] - The company reported a net profit attributable to shareholders of CNY 42,165,807.88 in Q1 2024, a significant increase compared to CNY 3,795,847.54 in Q2 2023[28] - The total cash dividends proposed for 2024, including previously distributed dividends, will amount to CNY 27,776,633.50, representing 50.84% of the net profit attributable to shareholders[8] - The cash dividend amount for 2024 is projected to be RMB 27,776,633.50, which constitutes 50.84% of the net profit attributable to shareholders[127] Assets and Liabilities - Total assets at the end of 2024 amounted to CNY 1,383,889,809.13, representing a 1.85% increase from CNY 1,358,695,258.32 at the end of 2023[25] - Cash and cash equivalents at the end of the period were CNY 351,983,839.86, which is 25.43% of total assets, up 60.93% from the previous period[62] - The company reported a decrease in inventory from RMB 169,600,995.84 to RMB 125,652,573.07, a reduction of approximately 26%[199] - Total liabilities rose to RMB 204,359,564.37 from RMB 198,321,635.25, marking an increase of approximately 3.5%[200] - Shareholders' equity increased to RMB 1,179,530,244.76 from RMB 1,160,373,623.07, reflecting a growth of about 1.6%[200] Operational Highlights - The company launched several new products, including CK-4/10W-40 and SP/C3 0W-30 engine oils, which received positive market feedback[35] - The company achieved 19 OEM certifications from Mercedes-Benz, enhancing its product credibility in the market[36] - The company’s industrial oil products continued to gain orders in traditional industries, contributing to its market expansion[36] - The company maintained a delivery rate of over 95% throughout the year, ensuring customer satisfaction[47] - The company has established stable partnerships with major channels such as Sinopec and PetroChina, enhancing market presence[48] Research and Development - The total R&D expenditure for the period was CNY 31,556,883.98, accounting for 2.96% of operating revenue[59] - The company has increased its investment in R&D for new products and technologies to meet market demands and ensure competitiveness[69] - The company has developed and launched several market-leading products, including nano-ceramic diesel engine oil CK-4 10W-40 and MA2 series motorcycle oils[44] - The company has 37 R&D personnel, representing 9.6% of the total workforce[59] Market Trends and Strategy - The total number of motor vehicles in China reached 453 million, with a year-on-year increase of 9.53% in new registered vehicles[39] - The retail volume of passenger car lubricants is expected to reach 1.23 billion liters, representing a year-on-year growth of 2.2%[39] - The hydrogen fuel cell vehicle market in China is projected to reach approximately 10 billion yuan, primarily in commercial vehicle applications[41] - The company aims to leverage hydrogen energy as a new growth area to enhance profitability and resource allocation efficiency[86] - The company is focusing on the rapidly growing automotive aftermarket, particularly in lubricants, automotive exhaust treatment fluids, and automotive maintenance products[86] Governance and Compliance - The company has established four specialized committees: strategy, nomination, audit, and compensation, which operate according to their respective work rules[97] - The company has three independent directors, meeting the requirements set by the China Securities Regulatory Commission[97] - The company’s independent directors are required to fulfill their duties in accordance with relevant laws and regulations, ensuring compliance and independence[97] - The company has implemented a performance evaluation and incentive mechanism for senior management, with compensation decisions made based on performance standards[98] - The company respects the rights of stakeholders, including creditors and minority shareholders, ensuring equal access to information[98] Shareholder Information - The total number of ordinary shareholders increased from 15,425 to 16,802 during the reporting period, representing a growth of approximately 8.95%[162] - The largest shareholder, Hengjia Shike International (Hong Kong) Limited, holds 69,207,200 shares, accounting for 26.99% of total shares[164] - Qingdao Lubang Petrochemical Co., Ltd. is the second-largest shareholder with 63,666,290 shares, representing 24.83% of total shares[164] - The company has not experienced any changes in total share capital or share structure during the reporting period[159] Risk Management - The company has outlined potential risks in its management discussion and analysis section, emphasizing the need for investors to be aware of investment risks[11] - The company acknowledges risks related to raw material price fluctuations, particularly in crude oil, which could impact operational performance[90] - Increased competition in the automotive lubricants market necessitates timely product upgrades and market expansion to maintain competitive positioning[90] Environmental Responsibility - The company is committed to environmental responsibility by adopting eco-friendly materials and production processes[89] - The company has not established an environmental protection mechanism and did not disclose any environmental investment during the reporting period[136]

Dividend Distribution - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares, totaling approximately 49,003,350.80 RMB, which accounts for 24.96% of the net profit attributable to shareholders for 2024[8]. - The total amount of cash dividends and share repurchases for the year is 69,121,726.26 RMB, accounting for 35.21% of the net profit attributable to shareholders[8]. - The company has implemented a cash repurchase amount of 20,118,375.46 RMB during the year, which is included in the total cash dividend[191]. - Over the last three fiscal years, the cumulative cash dividend amount (including tax) is 96,484,623.98 RMB, with an average annual net profit of 113,871,825.09 RMB, resulting in a cash dividend ratio of 84.73%[193]. - The proposed profit distribution plan is subject to approval at the shareholders' meeting[187]. Financial Performance - The company's operating revenue for 2024 reached CNY 4,985,260,670.99, representing a year-on-year increase of 15.12% compared to CNY 4,330,476,160.86 in 2023[24]. - Net profit attributable to shareholders for 2024 was CNY 196,304,702.99, a significant increase of 79.05% from CNY 109,636,960.92 in 2023[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 167,133,645.79, up 93.07% from CNY 86,565,126.76 in 2023[24]. - The basic earnings per share for 2024 was CNY 0.45, an increase of 80.00% from CNY 0.25 in 2023[25]. - The company's total share capital as of March 31, 2025, is 492,559,946 shares[8]. Audit and Compliance - The company has received a standard unqualified audit report from Huaxing Accounting Firm[7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[11]. - There are no violations of decision-making procedures regarding external guarantees[12]. - The internal control system was audited by Huaxing Accounting Firm, which issued a standard unqualified opinion on the internal control audit report[158]. - The company has established a complete internal control system for all subsidiaries, ensuring effective management and oversight of assets, business, and strategic planning[195]. Market and Growth Strategy - The company is focusing on new energy systems and has accelerated innovation in smart grids and ultra-high voltage projects to drive future growth[26]. - The company has a robust order backlog of 7,985 million RMB, providing a stable foundation for future performance growth[36]. - The company is enhancing its compliance management system to improve risk prevention and control levels, ensuring legal and compliant business decisions[53]. - The company is exploring opportunities in the recycling and renewable energy sectors, aiming to diversify its service offerings[122]. - The company plans to increase production capacity in response to growing orders, particularly in the second half of the year[91]. Research and Development - The company added 28 new authorized patents during the reporting period, including 3 invention patents and 25 utility model patents[51]. - Research and development expenses rose by 20.53% to CNY 170,362.01 million, emphasizing the company's commitment to innovation[85]. - The company is investing in research and development, allocating approximately 5% of its revenue towards innovative technologies[122]. - The company plans to increase its R&D budget by 20% in the next fiscal year to drive innovation[164]. - The company is committed to technological innovation, targeting key areas such as renewable energy, intelligent systems, and high-voltage direct current supply[139]. Corporate Governance - The board of directors held 8 meetings during the reporting period to discuss major issues including financial reports and corporate governance[152]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with relevant laws and regulations[154]. - The company has a dynamic compensation policy linked to overall net profit, aiming to balance employee incentives with corporate growth[182]. - The board has established specialized committees, including the Audit Committee, Nomination Committee, Compensation and Assessment Committee, and Strategic Development Committee[175]. - The company has maintained the shareholding of the general manager at 72,003,672 shares[161]. Operational Efficiency - The company generated a net cash flow from operating activities of CNY 71,725,891.03, a significant turnaround from a negative cash flow in the previous year[24]. - The net cash flow from operating activities increased by CNY 12,051.77 million, indicating improved operational efficiency[83]. - The company has successfully reduced operational costs by 8% through efficiency improvements, contributing to higher profit margins[167]. - The company has implemented a long-term accounts receivable collection mechanism, resulting in a reduction of credit impairment losses by CNY 20,462,500.00[27]. - The company employs a diversified supply chain strategy and establishes long-term relationships with quality suppliers to ensure timely and sufficient raw material supply[146]. Strategic Partnerships and Acquisitions - Strategic partnerships with leading renewable energy companies resulted in significant orders, including breakthroughs in projects like the 2000MW integrated solar-storage project[39]. - The company is exploring potential acquisitions to further strengthen its market position, with a budget of $200 million allocated for this purpose[163]. - The company plans to acquire 50% equity in Guangzhou Toshiba Baiyun Automation System Co., Ltd. for ¥500,000, making it a wholly-owned subsidiary[95]. - The company completed the acquisition of a 50% stake in the joint venture Guangzhou Toshiba Automation Systems Co., Ltd. for CNY 500,000, making it a wholly-owned subsidiary[110]. - Recent mergers and acquisitions have been strategically aligned to bolster the company's operational capabilities and market presence[162].