2025 年第一季度报告 1 科润智能控制股份有限公司 第一节 重要提示 公司董事、监事、高级管理人员保证本报告所载资料不存在虚假记载、误导性陈述或者重大遗漏，并对 其内容的真实性、准确性和完整性承担个别及连带责任。 科润智控 证券代码 : 834062 公司负责人王荣、主管会计工作负责人何永福及会计机构负责人（会计主管人员）王丽娟保证季度 报告中财务报告的真实、准确、完整。 本季度报告未经会计师事务所审计。 本季度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，投资者及相关人士均应 对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 | 事项 | | 是或否 | | --- | --- | --- | | 是否存在公司董事、监事、高级管理人员对季度报告内容存在异议或无法保证其真实、 | □是 | √否 | | 准确、完整 | | | | 是否存在未出席董事会审议季度报告的董事 | □是 | √否 | | 是否存在未按要求披露的事项 | □是 | √否 | | 是否审计 | □是 | √否 | | 是否被出具非标准审计意见 | □是 | √否 | 2 第二节 公司基本情况 一、 主要 ...

Financial Performance - The company's operating revenue for 2024 was ¥544,022,472.56, a decrease of 0.59% compared to ¥547,250,376.14 in 2023[31]. - The net profit attributable to shareholders for 2024 was -¥8,017,512.59, representing a decline of 136.39% from ¥22,029,632.50 in 2023[31]. - The gross profit margin for 2024 was 18.41%, down from 22.06% in 2023[31]. - The basic earnings per share for 2024 was -0.11, a decrease of 137.93% compared to 0.29 in 2023[31]. - The weighted average return on net assets based on net profit attributable to shareholders was -2.24% in 2024, down from 5.90% in 2023[31]. - The company reported a decrease of 45.59% in non-main business income, totaling ¥2,622,114.28 in 2024 compared to ¥4,819,275.75 in 2023[31]. - Total assets decreased by 3.88% to CNY 599,049,126.18 compared to the end of 2023[33]. - Net profit attributable to shareholders was CNY -8,017,512.59, a decrease of 5.21% from the preliminary report[35]. - Operating income for 2024 was CNY 544,022,472.56, showing a slight decrease of 0.00% compared to the preliminary report[35]. - The company reported a net profit margin of -136.39%, indicating a significant decline in profitability[34]. Awards and Recognition - The company received the "2023 Mayor Quality Award" from the Xuzhou Municipal Government in June 2024[4]. - In November 2024, the company obtained the "5A Contract Energy Management Service Certification" from Beijing Xinxin Certification Co., Ltd.[6]. - The company was recognized as a "Five-Star Cloud Enterprise" in the Jiangsu Province Industrial Internet Demonstration Project in 2024[8]. Research and Development - The company added 2 new invention patents in 2024[10]. - The company obtained 7 domestic and international authorized patents, including 2 invention patents, and has nearly 100 new magnetic device R&D projects ongoing[52]. - The total number of R&D personnel increased to 105, representing 11.28% of the total workforce, compared to 10.71% previously[93]. - The company reported a research and development expenditure of ¥22,399,974.38, which accounts for 4.12% of operating revenue, down from 5.15% in the previous period[91]. Market Expansion and Strategy - The company aims to expand its magnetic components business into the photovoltaic inverter market, aligning with national carbon neutrality policies[43]. - The company is committed to becoming a provider of smart lighting system solutions, enhancing its capabilities in planning, implementation, and operation[43]. - The company actively developed new markets in the magnetic device sector, focusing on server power modules and electric vehicle charging pile power modules[50]. - The company aims to expand its market share in the rapidly growing magnetic device sector, particularly in energy storage and micro-inverter applications[57]. - The company is focusing on enhancing product quality management and has optimized its internal organizational structure to improve operational efficiency[54]. Financial Management - The company's interest coverage ratio dropped significantly to 0.36 from 17.80 in the previous year[33]. - The company’s cash and cash equivalents decreased by 22.63% to approximately 81.36 million yuan, accounting for 13.58% of total assets[60]. - The company has implemented measures to mitigate raw material price fluctuations, including locking in prices with suppliers and utilizing futures contracts[120]. - The company is enhancing its accounts receivable management to reduce collection periods and mitigate credit risk[121]. Product Development and Innovation - The company is developing a smart lighting control system that integrates multiple functions, including smart parking and various sensor connections, with capabilities in big data, AI, and cloud computing[95]. - A new intelligent explosion-proof lighting system has been mass-produced, featuring specific gas detection and flashing alarm functions, enhancing safety in hazardous environments[96]. - The company is focused on enhancing its position in the smart lighting sector through innovative product development and market expansion strategies[95]. - The company is developing a new type of encapsulated LLC transformer to improve coupling effects and extend product lifespan, with an expected 10% reduction in size[97]. Shareholder Information - The company approved a cash dividend of 2 yuan per 10 shares (including tax) during the 2023 annual shareholders' meeting held on May 17, 2024[172]. - The company has a total of 758,000 restricted stocks granted at a price of 4.4 yuan per share, with 534,000 stocks having been repurchased and canceled[142]. - The total number of unrestricted shares increased from 25,689,670 to 44,335,252, representing a rise from 31.08% to 57.34% of total shares[159]. - The controlling shareholder, Zhu Congli, holds 26,185,000 shares, accounting for 33.87% of the total shares[161]. Risk Management - The company faces risks related to the effective digestion of new production capacity due to market competition and macroeconomic policies, which could adversely affect future profits if expected benefits are not realized[122]. - The company has ongoing litigation as a plaintiff with a cumulative amount of ¥7,863,232.11, representing 2.26% of the net assets at the end of the period[127]. - The company has established stable relationships with key outsourcing partners, but faces risks if these partners encounter capacity or quality issues[121]. Corporate Governance - The company has maintained the independence and professional competence of its auditing firm, ensuring a thorough and objective audit process for the fiscal year 2024[102]. - The company has not reported any significant adverse effects from its consulting services[137]. - The company has a total of 9 board members and 3 supervisory board members[177].

Financial Performance - Net profit attributable to shareholders rose by 60.30% to CNY 202,963,224.17 year-on-year[9] - Operating revenue grew by 35.43% to CNY 809,728,839.81 in the first quarter of 2025[9] - The company’s basic earnings per share rose by 60.32% to CNY 2.02[9] - The weighted average return on equity increased to 9.15% from 8.04% year-on-year[9] - The net profit for Q1 2025 reached CNY 202,751,987.25, a significant increase of 60.2% compared to CNY 126,595,288.22 in Q1 2024[40] - The total profit for Q1 2025 was CNY 232,589,335.88, an increase from CNY 145,210,001.91 in Q1 2024, representing a growth of 60.1%[40] - The total comprehensive income for Q1 2025 was CNY 203,957,053.75, compared to CNY 125,268,646.20 in Q1 2024, marking an increase of 62.7%[40] Asset and Liability Management - Total assets increased by 38.14% to CNY 4,553,520,211.93 compared to the end of last year[9] - The company's total liabilities to assets ratio decreased to 27.80% from 35.78% at the end of the previous year[9] - The total liabilities as of March 31, 2025, were CNY 1,265,846,423.50, compared to CNY 1,179,393,337.95 at the end of 2024, representing an increase of approximately 7.3%[35] - The equity attributable to shareholders increased to CNY 3,286,245,985.50 from CNY 2,115,283,084.34, marking a growth of around 55.3%[35] - The total current assets amounted to ¥3,922,369,295.64 as of March 31, 2025, up from ¥2,661,004,871.92 at the end of 2024, indicating a growth of approximately 47.3%[36] Cash Flow Analysis - The company's cash flow from operating activities increased by 21.62% to CNY 109,612,026.71[9] - The company reported a significant increase in cash flow from financing activities, up 47,672.93% to CNY 1,115,533,659.52 due to new share issuance and loans[12] - The cash inflow from operating activities in Q1 2025 was CNY 896,872,688.31, compared to CNY 789,526,270.29 in Q1 2024, an increase of 13.6%[44] - The company reported cash inflow from sales of goods and services of ¥774,025,595.04, compared to ¥663,227,025.47 in the previous year, indicating a growth of 16.7%[46] - The company’s total cash and cash equivalents increased by ¥1,229,157,740.39 in Q1 2025, compared to an increase of ¥142,260,175.98 in Q1 2024[47] Research and Development - Research and development expenses increased by 41.54% to CNY 42,429,347.20, reflecting the company's commitment to innovation[11] - Research and development expenses for Q1 2025 were ¥42,429,347.20, compared to ¥29,976,522.53 in Q1 2024, showing an increase of approximately 41.5%[39] Shareholder Information - The total number of ordinary shares increased from 100.40 million to 133.87 million, with the proportion of restricted shares decreasing from 100% to 76.25%[17] - The largest shareholder, Shenzhen Great Wall Development Technology, holds 70 million shares, representing 52.29% of the total shares[18] - The total number of ordinary shareholders is 24,661, indicating a broad base of ownership[17] - The number of shareholders holding more than 5% of shares includes several entities, with the top three holding a combined total of 89.49%[18] Operational Efficiency - The total sales expenses for the last fiscal year were approximately 36.65 million, compared to 36.20 million in the previous year, reflecting an increase[15] - The operating costs for the last fiscal year were approximately 442.18 million, slightly down from 442.64 million in the previous year[15] - The company's short-term borrowings increased to ¥322,595,744.06 as of March 31, 2025, compared to ¥177,863,936.82 at the end of 2024, reflecting an increase of about 81.5%[37] Legal and Compliance - The company has not reported any significant legal disputes or penalties during the reporting period[21] - The company reported no pledges or judicial freezes on shares held by major shareholders[20] - The company has approved a guarantee for its wholly-owned subsidiary for the year 2025, as disclosed in the announcement[23] - The company has also approved the expected daily related transactions for 2025, with no exceeded amounts reported during the reporting period[24]

Financial Performance - Operating revenue decreased by 53.44% to CNY 84,067,802.15 from CNY 180,567,174.74 in the same period last year[10]. - Net profit attributable to shareholders decreased by 14.08% to CNY 8,890,795.02 from CNY 10,347,984.52 year-on-year[10]. - The basic earnings per share decreased by 14.29% to CNY 0.12 from CNY 0.14[10]. - Operating revenue fell by 53.44% to ¥84,067,802.15, primarily due to a decrease in domestic business orders[13]. - Operating costs decreased by 54.56% to ¥71,584,668.53, reflecting the decline in sales revenue[13]. - The net profit for Q1 2025 reached CNY 10,314,134.79, compared to CNY 13,708,709.42 in Q1 2024, reflecting a decrease of approximately 24.3%[58]. - The total profit for Q1 2025 was CNY 12,272,531.75, compared to CNY 16,110,685.64 in Q1 2024, representing a decrease of approximately 23.5%[58]. - The company reported a revenue of 11,420,000.00 for the current period, compared to 9,992,500.00 in the previous period, indicating an increase of approximately 14.3%[31]. Assets and Liabilities - Total assets increased by 64.60% to CNY 1,275,575,717.10 compared to CNY 774,948,815.82 at the end of the previous year[10]. - The company's debt-to-asset ratio (consolidated) increased to 82.71% from 79.53%[10]. - The total liabilities of the company amounted to CNY 1,055,045,165.56, up from CNY 616,315,776.78, marking an increase of around 71.2%[50]. - The company's equity attributable to shareholders rose to CNY 168,675,264.79 from CNY 154,054,492.41, showing an increase of about 9.5%[50]. - The company has pledged 100% equity of its 16 subsidiaries as collateral for long-term payables and loans, totaling CNY 229,686,128.72[43]. - The company reported a judicial freeze on bank deposits amounting to CNY 6,679,900, which constitutes 0.52% of total assets, with no significant impact on operations[44]. Cash Flow - Cash flow from operating activities increased significantly by 509.08% to CNY 216,993.93 compared to CNY 35,626.72 in the previous year[10]. - The cash flow from operating activities for Q1 2025 was CNY 216,993.93, a decrease from CNY 35,626.72 in Q1 2024[60]. - The net cash flow from investment activities was -¥45,649,200.00, worsening from -¥3,920,246.00 year-over-year[64]. - Cash inflow from financing activities reached ¥107,287,243.37, significantly higher than ¥51,088,791.69 in Q1 2024[64]. Inventory and Borrowings - Inventory surged by 1,662.59% to CNY 353,414,914.62, primarily due to the consolidation of Xin Yude[12]. - Short-term borrowings rose by 32.31% to CNY 286,922,655.58, attributed to the consolidation of Xin Yude[12]. - Long-term borrowings increased significantly, with a balance of ¥205,806,442.63, driven by the acquisition loans and three-year loans[13]. Acquisitions and Investments - The company completed the acquisition of Xin Yude, resulting in the addition of goodwill valued at CNY 3,035,668.06[12]. - The acquisition of 47% equity in Zhongxin Xude was completed for 47,874,200 CNY, with the total assessed value of 100% equity at 102,414,600 CNY, indicating a valuation increase of 3,733,940 CNY or 57.38%[37]. - The company is actively pursuing market expansion and new technology development, with several projects scheduled for completion by 2034[35]. Future Outlook - Future guidance indicates a revenue forecast of 600,000.00 for the next quarter, up from 526,500.00, suggesting a growth of about 13.9%[28]. - The company aims to achieve a revenue target of 29,800,000.00 by 2034, representing a significant growth trajectory[32]. - The company is committed to sustainability, with plans to reduce carbon emissions by 30% by 2030 through innovative energy solutions[32]. User Engagement and Market Expansion - User data shows a significant increase in new projects, with 2,250,000.00 and 2,750,000.00 reported for 2024, reflecting a growth strategy[27]. - User data indicates a significant increase in customer engagement, with a reported growth rate of 15% in the last quarter[34]. - The company is focusing on expanding its market presence, with plans to enter three new regions by 2025, aiming for a market share increase of 10%[34].

Financial Performance - The company's operating revenue for Q1 2025 was ¥358,957,086.82, a decrease of 30.30% compared to ¥514,974,696.86 in the same period last year[3] - The net profit attributable to shareholders was ¥3,018,994.40, a significant improvement from a loss of ¥26,024,798.53 in the previous year[3] - The basic and diluted earnings per share were both ¥0.0030, recovering from a loss of ¥0.0248 per share in the same period last year[3] - The weighted average return on equity increased by 0.72 percentage points to 0.09% from -0.63%[3] - Total operating revenue for Q1 2025 was ¥359,072,137.34, a decrease of 30.4% compared to ¥515,085,103.71 in Q1 2024[17] - Net profit for Q1 2025 was ¥7,081,845.24, compared to a net loss of ¥22,974,581.98 in Q1 2024[18] - The company reported a gross profit margin of approximately 11.5% in Q1 2025, compared to a negative margin in Q1 2024[17] - The company's operating revenue for Q1 2025 reached ¥184,633,836.45, a significant increase of 68.3% compared to ¥109,573,001.08 in Q1 2024[27] - The net profit for Q1 2025 was ¥5,413,804.69, contrasting with a net loss of ¥16,446,979.52 in Q1 2024, indicating a turnaround in profitability[27] Assets and Liabilities - The total assets at the end of the reporting period were ¥22,907,146,305.09, a decrease of 1.65% from ¥23,292,488,202.91 at the end of the previous year[3] - The total liabilities decreased from 19,903 million RMB to 19,481 million RMB, reflecting a reduction of about 2.12%[14] - The total assets as of March 31, 2025, amounted to ¥13,977,534,034.64, slightly down from ¥14,128,666,364.73 as of December 31, 2024[24] - The total liabilities decreased to ¥10,790,480,163.82 from ¥10,954,374,627.53, reflecting a reduction in financial obligations[24] Cash Flow - The net cash flow from operating activities was -¥159,628,868.16, an improvement from -¥294,431,700.32 in the previous year[3] - Cash flow from operating activities for Q1 2025 was negative at -¥159,628,868.16, an improvement from -¥294,431,700.32 in Q1 2024[20] - Cash and cash equivalents at the end of Q1 2025 were ¥1,361,904,044.71, down from ¥2,490,329,616.33 at the end of Q1 2024[21] - The company incurred a total financing cash outflow of ¥857,201,623.34 in Q1 2025, compared to ¥1,256,810,287.55 in Q1 2024[21] - Net cash flow from operating activities for Q1 2025 was $76.7 million, compared to a negative $86.1 million in Q1 2024, indicating a turnaround in performance[30] - Cash outflow from investing activities in Q1 2025 was $27.5 million, a decrease from $85.3 million in Q1 2024, reflecting a reduction in investment expenditures[30] - Cash inflow from financing activities in Q1 2025 was $357.8 million, down from $1.04 billion in Q1 2024, showing a decline in borrowing activities[31] - The ending cash and cash equivalents balance for Q1 2025 was $499.1 million, down from $840.6 million in Q1 2024, reflecting a decrease of approximately 41%[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,063[6] - The largest shareholder, Nanjing Qixia Construction Group Co., Ltd., holds 34.37% of the shares, with 150,000,000 shares pledged[8] Future Outlook - The company plans to focus on improving sales revenue and profitability through project delivery and cost management strategies in the upcoming quarters[9] - The company is focusing on expanding its market presence through new residential developments in key cities like Nanjing and Wuxi[10] - The company has ongoing construction projects in Nanjing, with a total planned construction area of 1,000,000 square meters, indicating significant future growth potential[10] - The company has several new projects under construction, with a total investment of approximately 1,000 million RMB planned for these developments[10] Investment and Projects - The total investment amount for completed residential projects in Nanjing and Wuxi reached approximately 1,000 million RMB, with specific projects like Fengqing Water Front and Yangshan Lake Garden contributing significantly[10] - The total area available for sale across various residential projects is approximately 1,500,000 square meters, with a significant portion already sold or pre-sold[11] - Revenue from transferred areas for completed projects amounted to approximately 10 million RMB during the reporting period[11] Other Financial Metrics - The company recognized non-recurring gains and losses totaling -¥6,737,982.90, primarily due to government subsidies and fair value changes of financial assets[7] - The company's cash and cash equivalents decreased from 1,711 million RMB to 1,384 million RMB, a decline of about 19.1%[12] - The total equity attributable to shareholders increased slightly from 3,241 million RMB to 3,252 million RMB, showing a growth of approximately 0.34%[14] - The total equity as of March 31, 2025, was ¥3,187,053,870.82, slightly up from ¥3,174,291,737.20 at the end of 2024[25] - The deferred income tax assets increased to ¥480,109,912.08 from ¥474,930,088.17, suggesting potential future tax benefits[24] - The financial expenses for Q1 2025 were ¥11,530,849.97, a decrease from ¥17,627,127.08 in Q1 2024, indicating improved cost management[27] - The company reported an investment loss of ¥16,286,063.39 in Q1 2025, which is higher than the loss of ¥10,450,057.46 in Q1 2024[27] - Cash paid for employee compensation in Q1 2025 was $10.0 million, a decrease from $14.2 million in Q1 2024, indicating cost management efforts[30] - Cash received from operating activities related to services in Q1 2025 was $171.6 million, compared to $93.6 million in Q1 2024, marking an increase of approximately 83%[30] - Total cash outflow for operating activities in Q1 2025 was $247.1 million, an increase from $182.2 million in Q1 2024, reflecting higher operational costs[30] - The company did not report any cash inflow from investment activities in Q1 2025, contrasting with $140.4 million in Q1 2024, indicating a shift in investment strategy[30]

Financial Performance - The company's audited net profit attributable to shareholders for 2024 is -¥938,236,314.90, a significant decline compared to -¥134,388,981.92 in 2023, indicating a worsening financial performance [4]. - Total revenue for 2024 is ¥2,117,557,631.27, representing a 55.59% decrease from ¥4,768,139,382.50 in 2023 [21]. - Basic earnings per share for 2024 is -¥0.89, compared to -¥0.13 in 2023, reflecting a decline in profitability [22]. - The weighted average return on equity for 2024 is -25.36%, a decrease of 22.24 percentage points from 2023 [22]. - The net profit attributable to shareholders for Q1 was a loss of CNY 26.02 million, which worsened to a loss of CNY 116.81 million in Q2, and continued to decline to a loss of CNY 31.18 million in Q3, culminating in a loss of CNY 764.23 million in Q4 [24]. - The company reported a net profit of CNY -938.24 million for the most recent accounting year [129]. Cash Flow and Assets - The net cash flow from operating activities for 2024 is -¥354,823,066.03, an improvement from -¥1,059,824,502.61 in 2023 [21]. - The company's total assets decreased by 4.49% to ¥23,292,488,202.91 in 2024 from ¥24,388,700,762.30 in 2023 [21]. - Cash and cash equivalents decreased by 36.82% to ¥1.71 billion, primarily due to reduced sales revenue and repayment of bank loans [62]. - The company's interest-bearing debt increased by 1.86% from 7.756 billion RMB at the beginning of the reporting period to 7.900 billion RMB at the end [191]. - The company's interest-bearing debt balance at the beginning and end of the reporting period was 12.175 billion RMB and 11.827 billion RMB, respectively, reflecting a year-on-year decrease of 2.86% [193]. Operational Highlights - The company completed construction projects with a total output value of CNY 1.12 billion and finished 302,000 square meters of projects during the year [33]. - The company maintained a 100% completion rate for all finished projects, with four projects recognized as quality engineering in Nanjing [32]. - The company achieved a total operating cash flow of CNY 227.42 million in Q4, contrasting with negative cash flows in the first three quarters [24]. - The company has a total of 16 ongoing residential projects, with significant areas under construction in Nanjing and Wuxi [67]. Market Conditions - The real estate development prosperity index was reported at 92.78 in December 2024, indicating potential positive changes in the industry [36]. - New residential property sales area decreased by 12.9% year-on-year, with a total sales area of 97,385 million square meters [37]. - National real estate development investment fell by 10.6% year-on-year, totaling CNY 1,002.80 billion in 2024 [39]. - The first quarter saw a 3.0% year-on-year decline in new residential sales area, but the decline rate has narrowed compared to previous periods, indicating a potential market recovery [87]. Financing Activities - The company issued CNY 10.4 billion in corporate bonds in February 2024, with a coupon rate of 3%, and additional medium-term notes of CNY 10 billion and CNY 8.3 billion in August and November, with rates of 2.28% and 2.88% respectively [33]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 3,354,300,000, which accounts for 98.98% of the company's net assets [151]. - The company reported a total of 10.40 billion RMB in raised funds, all of which were used for debt repayment [181]. Governance and Management - The company held 1 annual and 2 extraordinary shareholder meetings during the reporting period, ensuring compliance with regulations and protecting minority shareholders' rights [98]. - The board of directors convened 6 meetings, fulfilling its responsibilities and maintaining the interests of all shareholders [98]. - The company has established a sound information disclosure system, ensuring transparency and timely communication with investors [99]. - The company plans to expand its management team with new appointments, including Yu Baolin as vice president starting November 15, 2024 [106]. Risk Management - The company has acknowledged potential industry and operational risks in its report [6]. - The company is focused on risk prevention and management efficiency, ensuring a stable financial structure and optimizing funding channels [90]. - The real estate industry faces uncertainties due to economic conditions and market dynamics, necessitating a shift towards sustainable development models [93]. Compliance and Regulations - The company has not faced any penalties from securities regulatory authorities in the past three years [113]. - The company has not reported any non-compliance issues or penalties against its directors, supervisors, or senior management [148]. - The company has complied with environmental protection laws and regulations, ensuring all projects meet required environmental approvals [138].

证券代码：600521 证券简称：华海药业 浙江华海药业股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 浙江华海药业股份有限公司2025 年第一季度报告 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减变动幅度(%) | | 营业收入 | 2,368,563,881.42 | 2,498,671,124.15 | -5.21 | | 归属于上市公司股东的净利润 | 297,404,077.75 | 270,842,789. ...

Financial Performance - The company achieved operating revenue of approximately CNY 9.55 billion in 2024, representing a year-on-year increase of 14.91%[25]. - Net profit attributable to shareholders reached CNY 1.12 billion, up 34.74% compared to the previous year[25]. - The basic earnings per share increased by 35.09% to CNY 0.77, while diluted earnings per share also rose by the same percentage[24]. - The company’s weighted average return on equity improved to 13.24%, an increase of 2.6 percentage points from the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 1.13 billion, reflecting a growth of 27.10% year-on-year[25]. - The company’s cash flow from operating activities was CNY 2.17 billion, a slight decrease of 2.00% compared to the previous year[25]. - The gross profit margin for finished pharmaceutical sales was 71.56%, with a year-on-year increase of 3.13%[73]. - The company's total revenue for the reporting period reached 1,000,498.00 million RMB, with a gross margin of 47.39%[105]. - Revenue from antihypertensive products was 194,604.15 million RMB, representing a year-on-year increase of 12.64%[105]. Dividend Policy - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares (including tax) to all shareholders based on the total share capital after deducting shares held in the repurchase account[6]. - The company has maintained a consistent approach to profit distribution, adjusting the total distribution amount if there are changes in total share capital before the dividend record date[6]. - The total cash dividend amount for 2023 is CNY 372,556,870.25, which represents 33.29% of the net profit attributable to ordinary shareholders[199]. - For the 2024 fiscal year, the proposed cash dividend is CNY 0.25 per share, pending shareholder approval[195]. - The cash dividend policy is in compliance with the company's articles of association and shareholder resolutions[196]. Risk Management - The company emphasizes that forward-looking statements regarding operational plans and future development strategies do not constitute substantive commitments to investors, highlighting the importance of risk awareness[7]. - The company has detailed potential risks in the report, specifically in the section discussing future development[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company is navigating risks associated with currency fluctuations and trade environment changes, which could impact its international business operations[161][162]. Research and Development - The company has 12 biopharmaceutical projects currently in clinical research stages[41]. - The company has established a comprehensive patent layout for its innovative drugs that are in clinical stages[41]. - The company has granted 65 new patent licenses during the reporting period, including 49 in China and 16 overseas, and filed 194 new patent applications, with 119 in China and 51 abroad, including 24 PCT applications[42]. - The company is focusing on innovation in drug development, particularly in personalized and precision medicine, as well as digital healthcare applications[136]. - The company is committed to increasing R&D investment in biopharmaceuticals, aiming to develop innovative drugs with independent intellectual property rights[143]. Market Expansion - The company is focusing on expanding its market presence internationally, with significant growth in exports to countries along the "Belt and Road" initiative, the EU, South America, and Africa[46]. - The company plans to enhance its global sales network, covering raw materials and formulations in both domestic and international markets[143]. - The company aims to achieve a sales revenue target of 10.5 billion yuan by 2025, focusing on innovation and market orientation[146]. - The company has established a stable cooperation relationship with over 1,000 pharmaceutical enterprises globally, covering nearly 90% of major market clients[50]. Corporate Governance - The company has established a performance evaluation system linked to employee compensation and promotions, enhancing talent retention and governance[168]. - The company adheres to strict information disclosure practices, ensuring transparency and timely communication with shareholders[169]. - The board of directors consists of 9 members, including 3 independent directors, and held 10 meetings during the reporting period to address key matters such as profit distribution and credit guarantees[166]. - The company has implemented stock incentive repurchase and cancellation as a strategy to manage executive shareholding[172]. - The company has a commitment to maintaining high standards in corporate governance, as reflected in its board composition and management practices[174]. Talent Development - As of the end of 2024, the company has a talent pool of over 1,000 individuals with master's and doctoral degrees, including 15 national-level talents and 22 provincial-level talents[45]. - The company focuses on training programs aimed at developing strategic talents and enhancing employee skills across various departments[193]. - The number of R&D personnel is 2,179, accounting for 24.04% of the total workforce[85]. - The company has a diverse leadership team with members holding significant positions in other pharmaceutical and investment firms, which may provide strategic advantages[175]. Compliance and Regulatory - The company received a warning letter from the Zhejiang Securities Regulatory Bureau for violating regulations related to the management and use of raised funds, affecting the chairman and several executives[180]. - The company is enhancing its compliance management to ensure sustainable and healthy development in line with regulatory requirements[144]. - The company is actively responding to policy changes in the pharmaceutical industry, optimizing product structure, and accelerating the launch of key products to reduce operational risks from policy fluctuations[158].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 746,547,290.21, a decrease of 1.28% compared to CNY 756,230,175.03 in the same period last year[3] - Net profit attributable to shareholders increased by 4.81% to CNY 41,358,153.02 from CNY 39,459,366.93 year-on-year[3] - Basic earnings per share increased by 4.82% to CNY 0.2154 from CNY 0.2055 in the same period last year[4] - The net profit for the first quarter of 2025 was CNY 41,358,153.02, up from CNY 39,459,366.93 in the same period of 2024, representing a growth of approximately 4.8%[16] - The company's total operating costs for Q1 2025 were CNY 698,144,668.05, down from CNY 713,425,346.96 in Q1 2024, reflecting a decrease of approximately 2.1%[18] Cash Flow - The net cash flow from operating activities rose significantly by 48.84% to CNY 225,287,957.80, compared to CNY 151,363,662.37 in the previous year[3] - In Q1 2025, the net cash flow from operating activities was CNY 225,287,957.80, an increase of 48.8% compared to CNY 151,363,662.37 in Q1 2024[19] - Cash inflow from operating activities totaled CNY 708,144,402.08, slightly down by 0.3% from CNY 711,296,720.33 in the previous year[19] - Cash outflow for purchasing goods and services was CNY 336,536,231.25, a decrease of 24.6% from CNY 446,475,835.52 in Q1 2024[19] - The company reported a net cash flow from investing activities of -CNY 51,379,580.34, worsening from -CNY 6,103,975.96 in the same quarter last year[20] - Cash inflow from financing activities was CNY 72,729,668.73, up by 32.4% from CNY 54,944,062.50 in Q1 2024[20] - The net cash flow from financing activities was -CNY 43,640,705.36, an improvement from -CNY 134,292,097.44 in Q1 2024[20] - The ending cash and cash equivalents balance increased to CNY 323,405,709.73, compared to CNY 291,282,762.30 at the end of Q1 2024[20] - The company received CNY 35,000,000.00 from investment recoveries, with no such cash inflow reported in Q1 2024[20] - Total cash inflow from operating activities was impacted by a decrease in tax refunds received, which fell to CNY 200,000.00 from CNY 2,310,802.32 in the previous year[19] - The company paid CNY 82,153,414.36 to employees, an increase of 18.2% compared to CNY 69,511,781.97 in Q1 2024[19] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,273,670,980.65, reflecting a growth of 16.31% from CNY 1,954,820,590.53 at the end of the previous year[4] - The company's total assets amounted to CNY 2,273,670,980.65, an increase from CNY 1,954,820,590.53 as of December 31, 2024, reflecting a growth of approximately 16.3%[14] - The company's total liabilities as of March 31, 2025, were CNY 1,788,581,292.64, compared to CNY 1,511,089,055.54 at the end of 2024, indicating an increase of about 18.4%[15] Shareholder Information - The company reported a total of 35,222 common shareholders at the end of the reporting period[9] - The top three shareholders include Shenzhen Jianxin Investment Development Co., Ltd. with 23.08% ownership, China Cinda Asset Management Co., Ltd. with 9.37%, and Xinjiang Rongsheng Investment Co., Ltd. with 9.00%[9] - The company is in the process of transferring 51% equity of Changyuan Water to China Water Investment Group, which indirectly involves the transfer of 17,286,227 shares, accounting for 9.00% of the total share capital[11] - If the transfer is completed, China Cinda will hold a total of 62,303,849 shares, representing 32.45% of the company's total share capital[12] Retained Earnings - The company’s retained earnings improved to -CNY 223,756,020.45 as of March 31, 2025, from -CNY 265,114,173.47 at the end of 2024, indicating a reduction in accumulated losses[16]

Financial Performance - Net profit attributable to shareholders for Q1 2025 reached ¥13,402,708.99, representing a year-on-year increase of 10.35%[10] - Operating revenue for the first quarter of 2025 was ¥43,550,992.36, reflecting a growth of 34.49% compared to the same period last year[10] - Operating profit for Q1 2025 was ¥14,381,256.94, compared to ¥7,581,356.26 in Q1 2024, indicating an increase of about 89.5%[35] - Net profit for Q1 2025 was ¥13,402,708.99, up from ¥12,145,312.00 in Q1 2024, reflecting a growth of approximately 10.4%[35] - Total revenue for Q1 2025 reached ¥43,550,992.36, a significant increase from ¥32,381,736.60 in Q1 2024, representing a growth of approximately 34.5%[34] - Total comprehensive income for Q1 2025 was ¥13,807,150.99, up from ¥10,241,835.85 in Q1 2024, showing a 35.1% increase[38] Cash Flow - The company's net cash flow from operating activities was -¥36,323,410.52, indicating a decline due to increased cash payments for goods and services[13] - Cash flow from operating activities in Q1 2025 was negative at -¥36,323,410.52, worsening from -¥26,832,291.63 in Q1 2024[39] - The net cash flow from financing activities surged by 909.13% to ¥17,614,658.02, primarily due to funds raised from oversubscribed placements[13] - Financing activities generated a net cash inflow of ¥17,614,658.02 in Q1 2025, compared to ¥1,745,524.52 in Q1 2024, indicating improved financing conditions[40] - The net cash flow from investing activities was -$108.41 million, a significant increase in negative cash flow compared to -$7.99 million last period, indicating aggressive investment strategies[43] Assets and Liabilities - Total assets as of March 31, 2025, amounted to ¥707,879,270.88, a decrease of 2.59% compared to the end of the previous year[10] - Total current assets as of March 31, 2025, amounted to ¥633,505,971.18, a slight decrease from ¥649,220,896.38 on December 31, 2024[28] - Total liabilities increased from ¥251,118,630.81 on December 31, 2024, to ¥191,803,790.04 as of March 31, 2025, indicating a decrease of approximately 23.6%[30] - The company's total liabilities to total assets ratio decreased to 27.10% from 34.55% in the previous year, indicating improved financial stability[10] - The company's total liabilities to equity ratio improved from approximately 0.53 on December 31, 2024, to 0.37 as of March 31, 2025, reflecting a stronger financial position[30] Shareholder Information - The total number of unrestricted shares remained at 26,125,000, accounting for 22.89% of total shares[18] - The total number of restricted shares increased from 83,875,000 to 88,000,000, representing 77.11% of total shares[18] - The largest shareholder, Zhongke Xingtou Co., Ltd., holds 38,250,000 shares, representing 33.52% of total shares[20] - The second-largest shareholder, Jiutian Investment Partnership, holds 23,450,781 shares, accounting for 20.55%[20] - The total number of shareholders with more than 5% ownership is concentrated among the top ten shareholders, holding a combined 76.34%[20] Research and Development - Research and development expenses increased by 68.71% to ¥13,177,888.53, aimed at enhancing competitiveness and innovation capabilities[12] - Research and development expenses increased significantly to ¥13,177,888.53 in Q1 2025 from ¥7,811,021.27 in Q1 2024, marking an increase of approximately 68.3%[34] - Research and development expenses increased significantly to ¥12,504,659.49 in Q1 2025, up from ¥7,200,189.54 in Q1 2024, marking a 73.5% increase[37] Legal and Compliance - The company has not reported any significant legal disputes or external guarantees during the reporting period[24] - The company has fulfilled its obligations regarding related party transactions in a timely manner[24]