LME(SH:688589)2025-04-24 13:35Financial Performance - The company's operating revenue for Q1 2025 was ¥97,787,703.10, a decrease of 24.70% compared to ¥129,861,404.65 in the same period last year[4] - Net profit attributable to shareholders was ¥12,593,180.73, down 46.08% from ¥23,356,519.68 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥8,408,631.22, reflecting a decline of 60.45% compared to ¥21,261,355.40 in the previous year[4] - Basic and diluted earnings per share were both ¥0.10, down 47.37% from ¥0.19 in the previous year[4] - The decline in revenue and profit was primarily attributed to the impact of the smart grid market bidding and supply rhythm[8] - In Q1 2025, the company achieved operating revenue of RMB 97.79 million, a year-on-year decrease of 24.70% due to the impact of bidding and supply rhythm in the smart grid market[12] - The net profit attributable to shareholders for Q1 2025 was RMB 12.59 million, down 46.08% year-on-year, primarily due to the decline in operating revenue[12] - Total operating revenue for Q1 2025 was CNY 97,787,703.10, a decrease of 24.7% compared to CNY 129,861,404.65 in Q1 2024[21] - Net profit for Q1 2025 was CNY 12,593,180.73, representing a decline of 46.0% from CNY 23,356,519.68 in Q1 2024[22] - The comprehensive income attributable to the parent company's owners for Q1 2025 is CNY 12,592,890.63, a decrease from CNY 23,356,681.81 in Q1 2024[23] Cash Flow and Investments - The net cash flow from operating activities was -¥41,534,321.59, a significant decrease from ¥4,118,398.35 in the same period last year, representing a change of -1,108.51%[4] - Cash inflow from operating activities in Q1 2025 is CNY 62,046,383.33, compared to CNY 125,090,748.29 in Q1 2024, reflecting a decline of approximately 50.4%[24] - The net cash flow from operating activities for Q1 2025 is -CNY 41,534,321.59, contrasting with a positive CNY 4,118,398.35 in Q1 2024[24] - Cash inflow from investment activities in Q1 2025 is CNY 91,525,755.56, an increase from CNY 63,268,578.80 in Q1 2024[25] - The net cash flow from investment activities for Q1 2025 is -CNY 286,021,347.21, compared to -CNY 248,983,550.04 in Q1 2024, indicating a worsening situation[25] - The net cash flow from financing activities in Q1 2025 is -CNY 7,372,797.40, slightly worse than -CNY 7,324,088.08 in Q1 2024[25] - The ending balance of cash and cash equivalents for Q1 2025 is CNY 375,342,555.21, down from CNY 607,899,935.23 in Q1 2024[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,500,222,477.01, a decrease of 2.18% from ¥1,533,596,641.40 at the end of the previous year[5] - Total liabilities decreased to CNY 421,963,581.79 from CNY 462,421,550.49, a decline of 8.7%[18] - The company's total assets decreased to CNY 1,500,222,477.01 from CNY 1,533,596,641.40, a reduction of 2.2%[19] - The company's cash and cash equivalents decreased to RMB 375.54 million as of March 31, 2025, down from RMB 710.60 million at the end of 2024[16] - The company's cash and cash equivalents increased to CNY 377,804,918.96 from CNY 301,478,958.62, an increase of 25.3%[18] Research and Development - The company's R&D investment totaled ¥19,613,158.02, which accounted for 20.06% of operating revenue, an increase of 5.20 percentage points year-on-year[5] - Research and development expenses for Q1 2025 were CNY 14,764,572.70, down 20.5% from CNY 18,566,472.77 in Q1 2024[22] Shareholder Actions - The company implemented a cash dividend distribution of ¥3.50 per 10 shares (including tax) and a capital reserve increase of 2 shares for every 10 shares held[5] - The company completed a share buyback program, repurchasing 422,730 shares, which is 0.35% of the total share capital, at an average price of RMB 26.07 per share, totaling RMB 11,020,401.95[13] - The company plans to use the repurchased shares for future employee stock ownership plans or equity incentives[12] Other Information - As of March 31, 2025, the company had an order backlog of RMB 192.74 million[12] - The company’s convertible bond "Lihe Convertible Bond" has an adjusted conversion price of RMB 29 per share as of February 28, 2025[15] - As of March 31, 2025, a total of 32,000 "Lihe Convertible Bonds" have been converted into company shares, representing 0.0009% of the total shares before conversion[15] - Trading financial assets increased significantly to RMB 220.94 million as of March 31, 2025, compared to RMB 15.04 million at the end of 2024[16] - Accounts receivable rose to RMB 250.41 million as of March 31, 2025, up from RMB 211.67 million at the end of 2024[16] - The company has not adopted new accounting standards or interpretations for the year 2025[26]