BVEA(SH:600379)2025-04-10 12:40Financial Performance - The company's operating revenue for Q1 2025 was CNY 318,834,978.46, a decrease of 20.54% compared to CNY 401,255,939.24 in the same period last year[3] - Net profit attributable to shareholders was CNY 18,746,381.49, representing an increase of 16.12% from CNY 16,143,298.60 year-on-year[3] - The net profit for the first quarter of 2025 was CNY 19,310,839.89, an increase of 17.4% compared to CNY 16,477,983.31 in the first quarter of 2024[20] - The total revenue from operating activities was CNY 252,721,622.76, up from CNY 174,922,955.39 in the previous year, reflecting a growth of 44.4%[21] - The operating profit for the first quarter was CNY 20,777,987.76, compared to CNY 18,428,283.25 in the same period last year, indicating a growth of 12.8%[20] - The company's total comprehensive income for the first quarter was CNY 19,310,839.89, compared to CNY 16,477,983.31 in the same period last year, marking a growth of 17.4%[20] Earnings and Shareholder Information - Basic earnings per share increased to CNY 0.0568, up 16.15% from CNY 0.0489 in the same period last year[3] - The basic and diluted earnings per share for the first quarter were both CNY 0.0568, an increase from CNY 0.0489 in the previous year[20] - Shareholder equity attributable to shareholders increased by 2.39% to CNY 770,311,351.97 from CNY 752,322,529.92 at the end of the previous year[3] - The total number of ordinary shareholders at the end of the reporting period was 20,860[6] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -64,845,723.53, an improvement from CNY -69,775,813.85 in the previous year[3] - The cash flow from operating activities showed a net outflow of CNY -64,845,723.53, slightly improved from CNY -69,775,813.85 in the first quarter of 2024[22] - The company's cash and cash equivalents decreased to CNY 369,993,214.33 from CNY 472,174,898.71 as of December 31, 2024, representing a decline of 21.7%[13] - The total cash and cash equivalents at the end of the first quarter were CNY 329,501,770.64, down from CNY 419,765,216.66 at the end of the first quarter of 2024[22] - Total assets at the end of the reporting period were CNY 1,710,652,295.43, a decrease of 3.03% from CNY 1,764,158,401.90 at the end of the previous year[3] - As of March 31, 2025, total assets amounted to CNY 1,710,652,295.43, a decrease from CNY 1,764,158,401.90 as of December 31, 2024[15] - Total liabilities as of March 31, 2025, were CNY 910,734,286.13, down from CNY 982,808,073.79 at the end of 2024[15] Costs and Expenses - The total operating costs for Q1 2025 were CNY 300,670,264.17, down 22.2% from CNY 386,227,466.76 in Q1 2024[18] - The operating cost for Q1 2025 was CNY 257,394,114.82, a decrease of 23.7% compared to CNY 337,438,165.45 in Q1 2024[18] - The company incurred research and development expenses of CNY 12,742,678.95, compared to CNY 12,070,394.88 in the previous year, reflecting an increase of 5.6%[20] - The company reported sales expenses of CNY 7,179,410.11, a decrease from CNY 10,647,725.98 in the previous year, indicating a reduction of 32.5%[20] - The company's financial expenses included interest expenses of CNY 909,250.24, which increased from CNY 746,920.56 in the previous year[20] Strategic Changes - The company optimized its strategy, resulting in a significant reduction in low-margin energy storage business revenue, which decreased by CNY 85,565,000 year-on-year[5] - The company received government subsidies amounting to CNY 279,722, which positively impacted the financial results[4] - The company is undergoing a share transfer process where 30.00% of shares held by the controlling shareholder will be transferred to China Xidian Group, but control will remain unchanged[10] Other Financial Metrics - The weighted average return on net assets increased by 0.1977 percentage points to 2.4611% compared to the previous year[3] - The company reported a non-current asset total of CNY 355,198,932.95 as of March 31, 2025, slightly down from CNY 360,517,683.64 at the end of 2024[14] - The company’s retained earnings increased to CNY 356,003,756.10 from CNY 337,257,377.73, showing a growth of 5.2%[15]