Financial Performance - Revenue for the first quarter of 2025 increased by 20.21% to CNY 25,074,439.29, up from CNY 20,859,112.75 in the same period last year[10] - Net profit attributable to shareholders was a loss of CNY 8,582,701.78, an improvement of 5.22% compared to a loss of CNY 9,055,465.07 in Q1 2024[10] - Operating profit for Q1 2025 was a loss of ¥8,406,525.58, an improvement from a loss of ¥9,192,281.87 in Q1 2024[43] - Net profit for Q1 2025 was a loss of ¥8,582,701.78, compared to a loss of ¥9,055,465.07 in Q1 2024, showing a reduction in losses of approximately 5.2%[43] - The company reported a total operating profit of -¥6,628,413.05 for Q1 2025, slightly better than -¥6,982,801.43 in Q1 2024[45] Cash Flow - Operating cash flow improved significantly, with a net cash flow from operating activities of -CNY 8,197,355.91, a 50.94% reduction in cash outflow compared to -CNY 16,709,112.46 in the previous year[10] - Cash flow from operating activities for Q1 2025 was -¥8,197,355.91, an improvement compared to -¥16,709,112.46 in Q1 2024[47] - Total cash inflow from investment activities in Q1 2025 was ¥16,019,239.45, while cash outflow was ¥36,802,279.30, resulting in a net cash flow of -¥20,783,039.85[48] - Cash inflow from financing activities in Q1 2025 was ¥12,000,000.00, compared to ¥17,000,000.00 in Q1 2024, showing a decrease of approximately 29.4%[48] Assets and Liabilities - Total assets decreased by 2.00% to CNY 432,625,004.90 as of March 31, 2025, compared to CNY 441,465,037.83 at the end of 2024[10] - Total liabilities as of March 31, 2025, were ¥213,125,853.60, compared to ¥213,383,184.75 on December 31, 2024, showing a slight decrease of 0.12%[36] - The company's total equity decreased to ¥219,499,151.30 from ¥228,081,853.08, a reduction of approximately 3.77%[36] - Total current assets amounted to ¥240,677,602.73, a decrease from ¥247,334,903.32 on December 31, 2024, representing a decline of approximately 2.66%[34] Shareholder Information - The total number of ordinary shares remained at 85,847,126, with 6,488 shareholders[17] - Major shareholder Wang Jie holds 27.22% of the shares, while Tian Lifeng holds 5.71%[19] Operating Costs and Expenses - The company's gross profit margin decreased due to a 70.24% increase in operating costs, which outpaced revenue growth[11] - Total operating costs for Q1 2025 were ¥36,275,290.39, up from ¥30,698,379.49 in Q1 2024, indicating an increase of about 18.0%[41] - Research and development expenses for Q1 2025 were ¥7,231,154.86, compared to ¥6,033,462.71 in Q1 2024, indicating an increase of approximately 19.9%[41] Guarantees and Commitments - The company provided external guarantees totaling ¥30,000,000, with a remaining balance of ¥20,000,000[28] - The company has fulfilled its commitments regarding external guarantees and other major related transactions in a timely manner[25] Other Financial Information - The company reported a credit impairment loss of ¥1,105,592.94 in Q1 2025[43] - The company has no litigation or arbitration matters during the reporting period[24] - The company has no significant related party transactions that were not disclosed[24]

Financial Performance - Operating revenue for the first quarter of 2025 was CNY 32,825,960.09, representing a year-on-year growth of 31.71%[8] - Net profit attributable to shareholders for the same period was CNY 6,439,904.33, an increase of 18.44% year-on-year[8] - The company's net profit for Q1 2025 reached ¥6,727,339.23, an increase of 22.7% compared to ¥5,481,959.12 in Q1 2024[38] - Operating profit for Q1 2025 was ¥7,461,500.03, up from ¥5,546,702.09 in Q1 2024, reflecting a growth of 34.5%[38] - Total revenue for Q1 2025 was ¥30,976,393.02, representing a 30.3% increase from ¥23,705,979.24 in Q1 2024[40] - The total comprehensive income for Q1 2025 was ¥6,727,339.23, compared to ¥5,481,959.12 in Q1 2024, reflecting overall growth[38] Cash Flow - The net cash flow from operating activities surged to CNY 12,718,927.95, a remarkable increase of 4,673.84% compared to the previous year[8] - The company reported a significant increase in cash inflow from operating activities, totaling ¥36,431,608.36 in Q1 2025, compared to ¥25,875,821.92 in Q1 2024, an increase of 40.8%[42] - Net cash flow from operating activities for Q1 2025 was ¥13,822,791.59, a significant increase compared to ¥391,197.18 in Q1 2024, reflecting strong operational performance[45] - Total cash inflow from operating activities in Q1 2025 reached ¥36,577,303.05, compared to ¥24,252,651.85 in Q1 2024, reflecting a growth of approximately 51%[44] Assets and Liabilities - Total assets as of March 31, 2025, reached CNY 539,197,441.77, an increase of 1.27% compared to the end of 2024[8] - The company's total liabilities stood at CNY 152,796,312.23, a marginal increase from CNY 152,771,681.55, reflecting a growth of approximately 0.02%[33] - The company's current assets totaled CNY 370,944,953.47, up from CNY 365,451,689.35, indicating an increase of about 1.4%[31] - The company's cash and cash equivalents were CNY 133,937,227.38, slightly increasing from CNY 132,403,952.25, showing a growth of approximately 1.2%[31] - Total liabilities decreased to ¥151,762,939.98 from ¥152,463,616.63, showing a reduction of approximately 0.5%[36] Shareholder Information - The total number of unrestricted shares increased from 86,519,721 to 88,023,583, representing a rise from 50.71% to 51.59% of total shares[14] - The number of restricted shares decreased from 84,095,279 to 82,591,417, reflecting a decline from 49.29% to 48.41% of total shares[14] - The top ten shareholders collectively hold 111,697,707 shares, accounting for 65.47% of total shares[16] - There are no pledges or judicial freezes on shares held by shareholders with more than 5% ownership[17] Operational Costs - The company's gross profit margin was impacted by a shift in sales mix, with operating costs rising by 57.37% to CNY 21,841,116.33[10] - Total operating costs for Q1 2025 were ¥31,093,260.52, up from ¥22,747,565.42 in Q1 2024, indicating an increase of about 36.5%[37] - The company's operating costs increased to ¥21,796,079.26 in Q1 2025 from ¥13,908,174.48 in Q1 2024, indicating rising operational expenses[40] Research and Development - Research and development expenses for Q1 2025 were ¥4,604,927.32, compared to ¥4,422,272.91 in Q1 2024, indicating an increase of approximately 4.1%[37] - Research and development expenses for Q1 2025 were ¥4,604,927.32, slightly up from ¥4,422,272.91 in Q1 2024, indicating a focus on innovation[40] Other Financial Metrics - Basic and diluted earnings per share for Q1 2025 were both ¥0.037, compared to ¥0.0318 in Q1 2024, marking a growth of 16.5%[39] - The company experienced a credit impairment loss of ¥4,921,748.43 in Q1 2025, compared to ¥1,099,487.26 in Q1 2024, highlighting increased credit risk[38] - The company adjusted the repurchase price of restricted shares to 6.25 CNY per share and the exercise price of stock options to 12.3225 CNY per option[24]

Financial Performance - Net profit attributable to shareholders for Q1 2025 was CNY -12,250,556.92, representing a decline of 735.27% year-over-year [12]. - Operating revenue for Q1 2025 was CNY 45,021,673.04, down 6.11% from the same period in 2024 [12]. - The company's basic earnings per share for Q1 2025 was CNY -0.10, a decrease of 600.00% year-over-year [12]. - Total revenue for Q1 2025 was CNY 45,021,673.04, a decrease of 6.06% compared to CNY 47,952,373.12 in Q1 2024 [51]. - Net profit for Q1 2025 was a loss of CNY 12,250,556.92, compared to a profit of CNY 1,928,398.18 in Q1 2024 [52]. - The company reported a total comprehensive loss of ¥11,980,741.88 for Q1 2025, compared to a comprehensive income of ¥2,427,166.30 in Q1 2024 [56]. Assets and Liabilities - Total assets as of March 31, 2025, were CNY 1,199,269,643.07, a decrease of 2.44% compared to the end of 2024 [12]. - The total liabilities as of March 31, 2025, were CNY 590,699,872.29, down from CNY 608,480,109.76 at the end of 2024 [47]. - The company’s total liabilities to assets ratio was 49.25% as of March 31, 2025, slightly down from 49.50% at the end of 2024 [12]. - The total value of assets under mortgage is 554,848,109.29, which accounts for 46.26% of the total assets [28]. - The company's non-current assets totaled CNY 996,029,678.91 as of March 31, 2025, slightly up from CNY 989,433,003.73 at the end of 2024 [46]. Cash Flow - The net cash flow from operating activities was CNY 699,774.62, a significant decrease of 95.41% compared to the previous year [14]. - Operating cash flow for Q1 2025 was ¥699,774.62, a decrease of 95.42% from ¥15,256,581.97 in Q1 2024 [57]. - The ending cash and cash equivalents balance decreased to $83,274,038.58 from $153,656,838.74, reflecting a decline of about 45.8% [59]. - The net increase in cash and cash equivalents was -$25,839,694.76, worsening from -$20,401,204.55 [59]. Research and Development - Research and development expenses increased by 199.95% to CNY 8,773,200.96, driven by clinical trials for new products [14]. - The company plans to continue investing in R&D for new therapies, indicating a focus on market expansion and innovation [14]. - The company has ongoing new drug research and development projects, increasing investment in R&D to support long-term growth [30]. - The company incurred R&D expenses of ¥8,773,200.96 in Q1 2025, significantly higher than ¥2,924,856.44 in Q1 2024, reflecting increased investment in innovation [53]. Shareholder Information - The total number of unrestricted shares is 113,560,796, accounting for 93.23% of the total share capital [18]. - The total share capital is 121,810,000 shares, with 6,422 common shareholders [18]. - The largest shareholder, Beijing Southeast Pharmaceutical Investment Holdings Co., Ltd., holds 46,907,925 shares, representing 38.51% of the total shares [20]. Operational Developments - The company has completed Phase III clinical trials for human interferon α1b nebulization treatment for pediatric RSV pneumonia, demonstrating significant improvement in key clinical symptoms such as respiratory distress [31]. - The new PEG-integrated interferon mutant injection combined with genetic testing aims to significantly increase the clinical cure rate for chronic hepatitis B, with 791 subjects enrolled in the clinical study [32][33]. - The company has successfully launched the antiviral oral spray (brand name: Lishuxing®), enhancing its market competitiveness in disinfection products and expanding its product line [36]. - The company is advancing the γδT cell tumor immunotherapy project, focusing on developing cost-effective "off-the-shelf" cell therapy products for various cancers, including acute and refractory leukemia [39]. Strategic Initiatives - The company is constructing a smart production and R&D base aimed at achieving "Industry 4.0" standards in biopharmaceuticals, which will support new product launches and contract development manufacturing (CDMO) services [40]. - The company has enhanced its digital operations, improving the efficiency of various information systems, including SCADA, DCS, MES, and others, leading to better overall equipment effectiveness (OEE) and compliance in production [41]. - A new generation of equipment management information system has been successfully launched, establishing a comprehensive lifecycle management system for production line equipment, which significantly improves management efficiency and production capacity [42].

Financial Performance - Total revenue for Q1 2025 reached ¥55,628,550.27, representing a 53.95% increase compared to ¥36,133,021.41 in Q1 2024[9] - Net profit attributable to shareholders was ¥3,360,866.95, a significant increase of 287.30% from ¥867,778.34 in the same period last year[9] - Operating profit for Q1 2025 was ¥3,711,434.11, a substantial rise from ¥380,534.86 in Q1 2024, reflecting a growth of over 875%[39] - Net profit for Q1 2025 reached ¥4,143,440.08, compared to ¥300,297.81 in Q1 2024, marking an increase of approximately 1,276%[39] - The company's net profit for Q1 2025 reached CNY 8,912,764.19, a significant increase from CNY 2,261,665.67 in Q1 2024, representing a growth of approximately 293%[43] - The company reported a total comprehensive income of CNY 8,912,764.19 for Q1 2025, compared to CNY 2,261,665.67 in Q1 2024, marking a substantial increase[43] Cash Flow and Liquidity - The company's net cash flow from operating activities was -¥7,486,192.20, a decline of 228.28% compared to ¥5,835,664.45 in Q1 2024[9] - Cash and cash equivalents increased by 43.12% to ¥83,253,648.47, mainly due to the redemption of financial products during the reporting period[10] - Cash generated from operating activities in Q1 2025 was CNY 53,998,295.87, compared to CNY 34,589,226.48 in Q1 2024, showing an increase of approximately 56.4%[45] - Operating cash inflow totaled CNY 62,260,933.70, an increase from CNY 39,287,452.69 year-over-year[46] - Operating cash outflow amounted to CNY 69,747,125.90, compared to CNY 33,451,788.24 in the previous year[46] - The net increase in cash and cash equivalents was CNY 26,567,367.65, compared to CNY 16,059,008.07 in the previous year[47] Assets and Liabilities - The total assets as of March 31, 2025, were ¥458,239,347.43, a decrease of 2.98% from ¥472,303,260.29 at the end of 2024[9] - Total liabilities as of March 31, 2025, were ¥85,338,233.51, down from ¥105,449,554.47 at the end of 2024, indicating a reduction of about 19%[37] - Shareholders' equity totaled ¥384,938,114.92 as of March 31, 2025, compared to ¥376,025,350.73 at the end of 2024, showing an increase of approximately 2.3%[37] - The total current liabilities decreased from 106,958,989.22 CNY on December 31, 2024, to 91,132,488.96 CNY on March 31, 2025[32] Shareholder Information - The total number of ordinary shares is 97,686,643, with 56.60% being unrestricted shares held by controlling shareholders[16] - Wang Min holds 25,385,114 shares, representing 25.99% of total shares, while Wang Fang holds 19,032,636 shares, representing 19.48%[18] - The top ten shareholders collectively hold 67,407,173 shares, accounting for 69.00% of total shares[18] - The total number of ordinary shareholders is 4,764[16] Stock Incentive Plan - The company has implemented a stock incentive plan, granting 675,000 restricted shares and 805,000 stock options to 58 individuals, including directors and core employees[22] - The exercise price for stock options was adjusted from 22.50 CNY to 22.30 CNY due to equity distribution[23] - The company approved the release of 181,800 restricted stocks from the 2022 equity incentive plan on May 23, 2023[24] - A total of 62,700 restricted stocks and 137,000 stock options were canceled due to underperformance and employee departures[24] - The number of stock options granted in the 2022 equity incentive plan was adjusted from 745,000 to 1,484,649, with the exercise price reduced from 22.30 CNY to 11.09 CNY[25] - As of March 31, 2025, a total of 675,000 restricted stocks and 945,000 stock options were granted under the 2022 equity incentive plan, with 181,800 restricted stocks released from restrictions[27] Operational Metrics - The gross profit margin for the period improved significantly, with operating profit reaching ¥3,711,434.11, an increase of 875.32% year-on-year[11] - The company reported a 74.89% increase in operating costs, totaling ¥32,447,719.61, primarily due to increased revenue[11] - Total operating costs for Q1 2025 were ¥53,097,320.57, compared to ¥36,784,965.80 in Q1 2024, indicating an increase of about 44%[39] - Research and development expenses for Q1 2025 were CNY 4,525,853.45, slightly down from CNY 5,028,609.51 in Q1 2024, indicating a focus on cost management[42] Other Information - The company has not reported any litigation, arbitration, or external guarantees during the reporting period[21] - There are no pledged or frozen shares among the top shareholders[19] - The company has not engaged in any significant asset acquisitions or mergers during the reporting period[21] - The company experienced a decrease in minority shareholders' comprehensive income, which was CNY -57,398.36 in Q1 2025, compared to CNY -635,687.78 in Q1 2024[41] - The total other comprehensive income after tax for Q1 2025 was CNY -26,270.42, compared to CNY -10,025.48 in Q1 2024, indicating a decline[43] - The company reported a net investment loss of CNY -23,401.03 in Q1 2025, compared to CNY -10,820.90 in Q1 2024, reflecting challenges in investment performance[42]

Financial Performance - Net profit attributable to shareholders rose by 30.39% to CNY 19,132,669.99 for Q1 2025, up from CNY 14,673,681.53 in the same period last year[10] - Operating revenue for Q1 2025 reached CNY 104,177,997.52, reflecting a growth of 13.04% compared to CNY 92,158,215.06 in Q1 2024[10] - The company reported a significant increase in investment income by 269.97% to CNY 1,403,223.67, due to higher returns from structured deposits and low-risk investments[13] - The total comprehensive income for Q1 2025 was ¥19,132,669.99, compared to ¥14,673,681.53 in Q1 2024, indicating a strong performance[38] - Operating profit for Q1 2025 was ¥22,329,633.86, an increase of 28.3% from ¥17,416,882.06 in Q1 2024[38] Cash Flow - The net cash flow from operating activities increased by 29.86% to CNY 19,967,691.32, compared to CNY 15,376,630.73 in the previous year[10] - Cash inflow from operating activities increased to CNY 109,889,613.19 in Q1 2025, up from CNY 91,034,853.10 in Q1 2024[43] - The company reported a net cash outflow from financing activities of CNY -26,347,107.13 in Q1 2025, contrasting with a net inflow of CNY 22,068,986.34 in Q1 2024[42] - Cash flow from investment activities increased by 118.53% to 38,617,287.68 RMB, driven by the redemption of structured deposits and the issuance of bank acceptance bills for fixed asset payments[14] - The company received CNY 20,679,280.00 in other operating cash in Q1 2025, a substantial increase from CNY 1,000,130.80 in Q1 2024[43] Assets and Liabilities - Total assets increased by 5.68% to CNY 849,583,307.77 as of March 31, 2025, compared to CNY 803,935,578.14 at the end of 2024[10] - The company's asset-liability ratio (consolidated) improved to 19.72% from 17.84% year-on-year[10] - Current liabilities rose to ¥161,800,354.49 from ¥137,598,061.35, reflecting an increase of approximately 17.6%[32] - Total liabilities increased to ¥167,570,141.98 from ¥143,457,042.34, marking a growth of around 16.8%[33] - Shareholders' equity rose to ¥682,013,165.79 from ¥660,478,535.80, showing an increase of about 3.3%[33] Shareholder Information - Major shareholder Li Songnian holds 59.87% of the total shares, amounting to 46,512,000 shares[20] - The total number of ordinary shares remained at 77,688,000, with 45.83% being unrestricted shares[19] - The total number of shares held by major shareholders is 57,642,490, representing 74.20% of the total shares[21] Operational Insights - The company plans to continue expanding its market presence, focusing on both domestic and international sales[13] - The company is in the process of merging its wholly-owned subsidiary Wuxi Jinghong Biotechnology Co., Ltd. into Wuxi Jinghai, with the merger expected to complete soon[25] - The company expects to sell goods worth 5,000,000 yuan to related party Wuxi Jingyang Biotechnology Co., Ltd. in 2025, with no sales recorded as of the reporting period[25] Other Financial Metrics - The gross profit margin showed slight improvement due to enhanced cost control measures[13] - Research and development expenses rose to ¥4,502,779.43 in Q1 2025, compared to ¥3,732,394.90 in Q1 2024, marking a 20.6% increase[37] - Tax expenses for Q1 2025 were ¥3,164,246.82, up from ¥2,673,200.53 in Q1 2024, reflecting a 18.3% increase[38] - The company reported a 71.39% decrease in tax payments to 783,501.04 RMB, attributed to reduced income tax liabilities from last year's profit decline[14]

Financial Performance - The company's operating revenue for 2024 reached ¥1,347,620,535.10, representing a 34.29% increase compared to ¥1,003,535,799.51 in 2023[30]. - The net profit attributable to shareholders for 2024 was ¥42,862,185.93, a decrease of 41.31% from ¥73,033,633.31 in 2023[30]. - The gross profit margin for 2024 was 15.52%, down from 19.21% in 2023[30]. - Total assets increased by 32.55% to ¥1,952,822,443.45 in 2024, compared to ¥1,473,271,310.23 in 2023[31]. - Total liabilities rose by 54.22% to ¥1,234,726,149.49 in 2024, up from ¥800,619,067.70 in 2023[31]. - The company's cash flow from operating activities showed a negative net amount of ¥124,817,763.96 in 2024, worsening from a negative ¥44,713,443.44 in 2023[31]. - The weighted average return on equity based on net profit attributable to shareholders was 6.21% in 2024, down from 11.45% in 2023[30]. - The basic earnings per share decreased to 0.23 in 2024, down 43.90% from 0.41 in 2023[30]. - The company's total equity attributable to shareholders increased by 6.78% to ¥715,760,103.36 in 2024, compared to ¥670,316,339.35 in 2023[31]. Research and Development - Research and development investment reached 35.34 million yuan, representing 2.62% of operating revenue, resulting in a total of 105 authorized patents by the end of 2024[8]. - The company has introduced high-end technical talent to strengthen its R&D capabilities and has received various honors for its innovation[8]. - The company holds 105 patents in transformer and switchgear technology, including 13 invention patents and 89 utility model patents[55]. - The company is advancing several R&D projects aimed at enhancing energy efficiency and safety in power systems, which are expected to strengthen market competitiveness and drive future growth[124]. - The company has achieved a breakthrough in the development of intelligent fire prevention technology for traditional European-style box transformers, enhancing safety and reliability[125]. Market Expansion and Strategy - The company aims to achieve a production capacity of 950 million yuan in orders by 2028 through the smart new energy grid equipment project[7]. - The company plans to deepen its global layout, focusing on markets along the "Belt and Road" initiative in 2025[10]. - The company plans to enhance its product offerings in the renewable energy sector, including new types of box substations and intelligent energy storage containers[44]. - The company is focusing on the development of smart power distribution and control equipment, which is expected to enhance its market position[110]. - The company aims to transition from a manufacturer to an integrated service provider, supporting the development of new energy systems and carbon neutrality goals[126]. Operational Efficiency - The company adopted a procurement model based on "sales-driven production" to optimize inventory management and reduce costs[44]. - The company has established a stable customer base, focusing on high-quality clients such as State Grid and large central enterprises[44]. - The company emphasizes quality management and continuous improvement in product quality as part of its operational strategy[58]. - The company is focused on improving production automation and energy-saving technology to enhance product technical content and added value[148]. Financial Management and Investments - The company initiated a refinancing plan in 2024 to optimize its capital structure, which has been accepted by the Beijing Stock Exchange[10]. - The company completed the acquisition of a 49% stake in Chuangye Deli, increasing its long-term equity investment scale[58]. - The company has invested 5,000,000.00 yuan in bank wealth management products, with no overdue amounts or expected losses[107]. - The company has a total of 320,633,358.14 RMB in assets with restricted rights, accounting for 16.42% of total assets[189]. Risks and Challenges - The company faces risks related to fluctuations in raw material prices, particularly copper and silicon steel, which directly impact procurement costs and operating performance[151]. - The company is facing intense competition from both domestic and international players, which necessitates continuous innovation and improvement in production processes and quality control[152]. - The company has not identified any significant uncertainties that could impact its future development strategy or business plans during the reporting period[150]. Corporate Governance and Compliance - The company has committed to not engaging in any competitive business activities with its subsidiaries, ensuring no direct or indirect competition[183]. - The actual controller of the company pledged to maintain the legal rights of the company and all shareholders, emphasizing diligence and integrity in fulfilling responsibilities[184]. - The company will ensure that its compensation system aligns with the performance of the company, promoting accountability among executives[184]. - The company is committed to improving the quality of information disclosure to protect the interests of investors and promote sustainable development[185].

Financial Performance - Net profit attributable to shareholders was CNY -1,751,852.36, a decline of 206.98% year-on-year[11] - Operating revenue for the first quarter was CNY 115,778,483.40, down 2.35% from CNY 118,570,311.60 in the same period last year[11] - The company reported a decrease in total current assets from ¥629,347,945.51 to ¥511,371,434.44, a decline of about 18.7%[36] - Total operating revenue for Q1 2025 was ¥115,778,483.40, a decrease of 2.4% compared to ¥118,570,311.60 in Q1 2024[38] - Net profit for Q1 2025 was a loss of ¥1,505,537.94, compared to a loss of ¥229,801.18 in Q1 2024, indicating a significant decline in profitability[39] - Comprehensive income for Q1 2025 totaled -¥1,635,767.42, compared to -¥270,073.66 in Q1 2024, indicating a worsening financial position[39] - The total profit for Q1 2025 was -¥1,929,804.51, compared to -¥1,274,336.54 in Q1 2024, showing a significant increase in losses[39] Assets and Liabilities - Total assets decreased by 7.79% to CNY 1,273,944,541.24 compared to the end of the previous year[11] - Total liabilities decreased from ¥804,428,334.25 to ¥698,385,676.74, a reduction of about 13.2%[34] - Current liabilities decreased from ¥731,434,354.54 to ¥625,814,434.41, a decrease of approximately 14.4%[33] - Non-current liabilities remained relatively stable, decreasing slightly from ¥72,993,979.71 to ¥72,571,242.33[33] - The asset-liability ratio decreased to 54.82% from 58.22% year-on-year, indicating improved financial stability[11] Cash Flow - The company's cash flow from operating activities showed a significant improvement, with a net cash outflow of CNY -3,384,238.78, a 90.93% reduction compared to CNY -37,301,480.65 in the previous year[11] - Operating cash inflow for Q1 2025 reached ¥154,569,935.74, a 18.4% increase from ¥130,564,986.04 in Q1 2024[42] - Net cash flow from operating activities for Q1 2025 was -¥3,384,238.78, compared to -¥37,301,480.65 in Q1 2024, indicating an improvement[43] - Cash inflow from investment activities in Q1 2025 was ¥316,080.00, while cash outflow was ¥1,412,463.93, resulting in a net cash flow of -¥1,096,383.93[43] - Cash inflow from financing activities in Q1 2025 was ¥65,000,000.00, with a net cash flow of ¥7,728,349.19 after outflows[43] Shareholder Information - The total number of ordinary shareholders was 4,540, with a total share capital of 64,970,000 shares[18] - The largest shareholder, Ni Wenjun, holds 40.48% of the shares, totaling 26,299,600 shares[20] - The second largest shareholder, He Zonggui, owns 20.03% of the shares, amounting to 13,015,769 shares[20] - Total shares held by the top ten shareholders account for 69.70% of the company's total shares[20] Inventory and Receivables - Accounts receivable decreased by 38.68% to CNY 186,686,062.19, primarily due to cash collections during the reporting period[12] - Accounts receivable decreased from 304.42 million yuan to 186.69 million yuan during the same period[32] - Inventory increased from 259.48 million yuan to 299.12 million yuan[32] - The company experienced a 49.02% decrease in credit impairment losses, amounting to CNY 4,518,143.41, attributed to a reduction in accounts receivable[13] Other Financial Metrics - Other income decreased by 41.67% to CNY 2,410,609.75, mainly due to a reduction in government subsidies received[13] - Research and development expenses decreased to ¥7,711,962.56 in Q1 2025 from ¥9,360,432.67 in Q1 2024, a reduction of 17.6%[38] - The company reported a basic and diluted earnings per share of -¥0.03 for Q1 2025, compared to -¥0.01 in Q1 2024[40] - The company has ongoing litigation with a total claim amount of 534,280.87 yuan, which is 0.09% of the net assets[25] - There are no new commitments or violations of previously disclosed commitments during the reporting period[27]

Financial Performance - The company's operating revenue for Q1 2025 was ¥9.80 billion, a decrease of 13.00% compared to ¥11.27 billion in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥223 million, representing a decline of 311.39% from a profit of ¥105 million in the previous year[4] - The basic and diluted earnings per share were both -¥0.10, a decrease of 300.00% compared to ¥0.05 in the same period last year[4] - The net cash flow from operating activities was -¥1.29 billion, slightly worse than -¥1.23 billion in the previous year[4] - The company experienced a significant decline in gross profit due to reduced sales volume and decreased investment income from joint ventures[7] - Total operating revenue for Q1 2025 was approximately ¥9.82 billion, a decrease of 12.97% compared to ¥11.28 billion in Q1 2024[17] - Net profit for Q1 2025 was a loss of approximately ¥240.50 million, compared to a profit of ¥66.57 million in Q1 2024[18] - The total comprehensive income for Q1 2025 was a loss of approximately ¥186.08 million, compared to a gain of ¥105.89 million in Q1 2024[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥48.29 billion, down 1.60% from ¥49.08 billion at the end of the previous year[5] - As of March 31, 2025, the total current assets amounted to CNY 26,817,808,029.87, a decrease from CNY 27,691,660,924.20 as of December 31, 2024, representing a decline of approximately 3.15%[12] - The company's total assets decreased to CNY 48,294,119,499.28 from CNY 49,081,314,901.43, a decline of approximately 1.6%[14] - Total liabilities as of March 31, 2025, were CNY 36,056,974,532.77, down from CNY 36,652,165,199.04, showing a decrease of about 1.62%[14] - The total equity attributable to shareholders decreased to CNY 11,191,250,374.98 from CNY 11,359,531,781.93, a decline of about 1.48%[14] Cash Flow - The company's cash and cash equivalents decreased to CNY 12,002,843,094.00 from CNY 13,255,671,486.27, reflecting a reduction of about 9.45%[12] - The net cash flow from financing activities was -333,949,896.28, worsening from -44,050,153.35 in the previous year[21] - Cash inflow from loans received was 1,054,723,879.32, up from 800,000,000.00, representing a growth of 31.7%[21] - Cash outflow for debt repayment was 1,356,229,808.33, significantly higher than 897,100,000.00, indicating an increase of about 51.1%[21] - The ending balance of cash and cash equivalents decreased to 8,929,488,269.25 from 9,990,796,154.47, a decline of approximately 10.6%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 243,735[9] - The largest shareholder, Anhui Jianghuai Automobile Group Holding Co., Ltd., held 28.18% of the shares[9] Investment and Expenses - Research and development expenses for Q1 2025 were approximately ¥333.24 million, a slight decrease from ¥344.08 million in Q1 2024[17] - The company recorded an investment loss of approximately ¥130.75 million in Q1 2025, compared to a loss of ¥41.09 million in Q1 2024[17] - The company reported a decrease in sales revenue from goods and services, totaling approximately ¥7.01 billion in Q1 2025, down from ¥7.84 billion in Q1 2024[20] Accounting Standards - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[21]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,470,421,079.65, a decrease of 1.35% compared to CNY 4,531,518,433.04 in the same period last year[5]. - Net profit attributable to shareholders increased by 4.85% to CNY 806,669,493.39 from CNY 769,351,693.51 year-on-year[5]. - Basic and diluted earnings per share rose to CNY 0.135, reflecting a 4.65% increase from CNY 0.129 in the previous year[5]. - The company reported a weighted average return on equity of 2.19%, an increase of 0.07 percentage points compared to the previous year[5]. - The total profit for the period was approximately ¥1.33 billion, an increase from ¥1.25 billion in the previous period, representing a growth of about 7.06%[32]. - The net profit attributable to the parent company was approximately ¥806.67 million, up from ¥769.35 million, reflecting a growth of about 4.86%[32]. - The net profit for Qilu Expressway in Q1 2025 was 121 million yuan, a slight decrease of 1.16%[19]. - The rail transit segment reported Q1 2025 revenue of 1.091 billion yuan, a year-on-year increase of 13.09%, with net profit rising by 20.96% to 80 million yuan[20]. Cash Flow and Liquidity - The net cash flow from operating activities surged by 124.26% to CNY 2,314,578,940.64, primarily due to increased sales collections and a decrease in payments for project costs[5][8]. - The company's cash and cash equivalents were not explicitly detailed, but the overall liquidity position appears stable based on current liabilities[28]. - The cash and cash equivalents at the end of the period were approximately ¥2.53 billion, down from ¥5.57 billion at the end of the previous year, a decrease of about 54.66%[35]. - The company reported a significant increase in cash received from sales of goods and services, totaling approximately ¥5.71 billion, compared to ¥5.35 billion in the previous year, representing a growth of about 6.83%[34]. - The ending cash and cash equivalents balance for Q1 2025 was $945,441,955.53, down from $2,969,373,220.51 in Q1 2024, a decrease of approximately 68.1%[44]. Revenue Sources - The company reported toll revenue of 2.439 billion RMB in Q1 2025, representing a year-on-year growth of 7.85%[13]. - Specific toll revenue changes included a 22.24% increase for the Jilai Expressway, while the Jiqing Expressway saw a decrease of 1.16%[13]. - The total toll revenue for the company was 2.438 billion RMB, with significant contributions from various expressways, including 312.69 million RMB from Hubei Wujing Expressway, marking a 14.26% increase[14]. - Q1 2025 revenue for Qilu Expressway was 492 million yuan, down 13.74%, while toll revenue increased by 70.60% to 429 million yuan due to the completion of the Jike Expressway expansion[18]. Operational Efficiency and Strategy - The company plans to continue focusing on cash flow improvement and operational efficiency in the upcoming quarters[8]. - The company is focusing on restructuring its management system to create a more streamlined and efficient organization[13]. - The company has identified a need to improve toll collection efficiency and enhance service offerings to maintain revenue growth[13]. - The company plans to continue expanding its operational capabilities and exploring new market opportunities to drive future growth[13]. - The company plans to focus on core responsibilities and complete the "half-time, half-task" goal in Q2 2025, enhancing collaboration with traffic police for "all-weather passage" research[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 161,543,712,589.25, a slight decrease of 0.09% from CNY 161,687,852,769.53 at the end of the previous year[6]. - The company's long-term borrowings stood at approximately ¥53.78 billion, slightly up from ¥53.73 billion year-over-year[28]. - Total liabilities decreased to approximately ¥103.64 billion from ¥104.39 billion, indicating a reduction of 0.7%[28]. - The company's total liabilities amounted to CNY 54.11 billion, slightly higher than CNY 53.94 billion from the previous year[39]. - The total equity of the company was CNY 39.88 billion, compared to CNY 39.61 billion in the previous year, reflecting a growth of about 0.68%[39]. Investment and Expenses - In Q1 2025, the company achieved an investment income of 269.75 million yuan, a year-on-year decrease of 16.85%[16]. - The company completed approximately 238 million yuan in key engineering investments in Q1 2025[22]. - The company reported a decrease in research and development expenses to approximately ¥70.03 million from ¥82.50 million, reflecting a reduction of 15.1%[31]. - The company reported a decrease in financial expenses to CNY 234.50 million from CNY 279.02 million, a reduction of approximately 16%[40].

Financial Performance - The company achieved a net profit of RMB 81,824,444.45 for the parent company in 2024, with a total net profit attributable to shareholders of RMB 170,675,644.77[6] - The company's operating revenue for 2024 reached ¥923,625,498.84, representing a 32.78% increase compared to ¥695,615,887.22 in 2023[26] - The net profit attributable to shareholders decreased by 22.80% to ¥170,675,644.77 from ¥221,094,398.33 in the previous year[26] - The basic earnings per share dropped by 53.57% to ¥0.52 in 2024, down from ¥1.12 in 2023[27] - The total assets increased by 5.23% to ¥4,668,931,685.57 at the end of 2024, compared to ¥4,436,889,778.34 at the end of 2023[26] - The net cash flow from operating activities was negative at -¥20,398,885.55, worsening from -¥15,492,231.90 in 2023[26] - The company reported a significant decline in investment income from associates, contributing to the decrease in net profit[27] - The weighted average return on equity fell to 4.89% in 2024, down from 8.68% in 2023, a decrease of 3.79 percentage points[27] - The company received government subsidies amounting to ¥7,651,073.41 in 2024, which positively impacted its financial results[30] Dividend Distribution - A cash dividend of RMB 0.55 per 10 shares (including tax) is proposed, amounting to a total distribution of RMB 18,128,667.26 to shareholders[6] - The company plans to carry forward the remaining undistributed profits to future distributions[6] - A cash dividend of 26.369 million yuan is planned for the year 2024[87] - The total cash dividend amount (including tax) for the most recent fiscal year is CNY 18,128,667.26, which accounts for 10.62% of the net profit[120] - The cumulative cash dividend amount (including tax) over the last three fiscal years is CNY 60,337,637.82, representing 31.35% of the average annual net profit of CNY 192,462,760.90[122] Risk Management and Compliance - The company reported no significant risks affecting future development strategies or ongoing operations during the reporting period[10] - There are no non-operating fund occupations by controlling shareholders or related parties[8] - The company has a commitment to actively respond to operational risks as outlined in the management discussion and analysis section[12] - The company has not identified any violations of decision-making procedures regarding external guarantees[11] - The company is optimizing its compliance management system and strengthening internal controls to maintain a robust compliance framework[38] - The company has conducted a series of audits and risk assessments, including a report on internal control systems and a forecast of major operational risks for 2024[109] Research and Development - The company has increased its R&D investment, focusing on areas such as big data, artificial intelligence, and digital twin technology, leading to the launch of multiple innovative products[36] - Research and development expenses rose by 11.48%, totaling 108 million RMB, up from 97 million RMB in the previous year[47] - The number of R&D personnel is 398, accounting for 48.18% of the total workforce[59] - The company has accumulated 76 authorized patents and 376 software copyrights by the end of 2024, reflecting its strong R&D capabilities[36] Market Expansion and Strategy - The company is focusing on the smart emergency sector and expanding into new markets for smart city applications, enhancing its market competitiveness[35] - The company is actively expanding into smart city-related markets, including urban operations, transportation, and energy management[42] - The Chinese smart city ICT market is projected to reach 939.7 billion RMB in 2024 and 1,155.2 billion RMB by 2027, indicating significant market opportunities[41] - The company aims to become a leading provider of solutions and services in the urban digitalization sector, focusing on smart emergency and smart city applications[78] - The company plans to strengthen customer management capabilities and expand market reach, particularly in smart public safety and firefighting sectors, while also exploring overseas markets[79] Corporate Governance - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with governance standards[86] - The company held 6 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[85] - The company has established a remuneration committee to determine the compensation based on annual performance evaluations[99] - The company has a structured approach to governance, ensuring that remuneration decisions are made transparently and in accordance with established guidelines[99] Shareholder Relations - The company organized 3 online investor briefings regarding the 2023 performance and cash dividend situation, enhancing investor relations[87] - The company has scheduled multiple shareholder meetings in 2024 to discuss various proposals, including financial audits and board member elections[91] - The company has a total of 22,252 ordinary shareholders as of the end of the reporting period[187] Related Party Transactions - The company commits to strict compliance with laws and regulations regarding related party transactions, ensuring proper voting procedures are followed in board meetings[138] - The company will ensure complete separation in personnel, assets, business, organization, and finance from the listed company to protect its interests[139] - The company will not engage in any actions that compromise the independence of the listed company or its shareholders[140] - The company will actively eliminate any adverse effects caused by violations of commitments made to the listed company[139] Financial Management - The company will strengthen the management and utilization of raised funds, ensuring compliance with regulatory requirements and safeguarding against risks associated with fund usage[147] - The company will ensure that raised funds are used for designated purposes and will cooperate with independent financial advisors for oversight[147] - The company has a total of 625 million CNY in bank financial products from raised funds, with a remaining balance of 570 million CNY[171] Audit and Internal Control - The audit report issued by the accounting firm was a standard unqualified opinion, ensuring the accuracy of the financial report[5] - The internal control audit for the fiscal year 2024 was conducted by an independent auditor, resulting in a standard unqualified opinion[127] - The company appointed Deloitte Touche Tohmatsu Certified Public Accountants LLP as the financial and internal control audit institution for the fiscal year 2024[159] Future Projections - The company achieved a net profit of CNY 5,184.43 million for the year 2023, with projected profits of CNY 6,450.49 million for 2024 and CNY 8,280.83 million for 2025[151] - The actual net profit for 2024 was CNY 7,088.26 million, exceeding the target by 109.89%[153] - The company has successfully completed its performance commitments for 2024, eliminating the need for performance compensation[152]