SWEC(SH:600641)2025-04-25 13:40Financial Performance - The company's operating revenue for Q1 2025 was CNY 192,390,406.02, representing a 94.09% increase compared to CNY 99,125,308.70 in the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 20,485,773.83, compared to a loss of CNY 16,624,975.16 in the previous year, indicating a worsening performance[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 3,977,970.80, a decline of 131.03% from CNY 12,819,677.44 in the previous year[4]. - The net cash flow from operating activities was a negative CNY 1,553,179,555.97, significantly worse than the negative CNY 55,029,196.14 reported last year[4]. - Net loss for Q1 2025 amounted to ¥42,165,018.97, compared to a net loss of ¥35,855,035.65 in Q1 2024, reflecting a deterioration in performance[21]. - Basic and diluted earnings per share for Q1 2025 were both -¥0.0225, compared to -¥0.0180 in Q1 2024, reflecting continued losses[22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,267,983,960.81, up 2.71% from CNY 9,996,904,782.21 at the end of the previous year[5]. - Total liabilities rose to ¥1,592,889,524.63, compared to ¥1,292,930,875.71 in the previous period, indicating increased financial obligations[18]. - The company's equity attributable to shareholders decreased slightly by 0.16%, from CNY 8,197,229,785.04 to CNY 8,183,873,969.92[5]. - The company's equity attributable to shareholders decreased slightly to ¥8,183,873,969.92 from ¥8,197,229,785.04[18]. Cash Flow - The company's cash and cash equivalents decreased to RMB 2.40 billion from RMB 2.99 billion, representing a decline of approximately 19.7%[16]. - Cash inflow from operating activities totaled 165,237,377.83 in Q1 2025, down from 272,395,017.74 in Q1 2024, representing a decrease of approximately 39.4%[24]. - Cash outflow from operating activities surged to 1,718,416,933.80 in Q1 2025, compared to 327,424,213.88 in Q1 2024, indicating a year-over-year increase of over 424%[24]. - The ending cash and cash equivalents balance was 2,128,797,103.76 in Q1 2025, down from 2,492,073,204.04 in Q1 2024, reflecting a decrease of about 14.6%[25]. - The company received 155,467,130.60 in cash from sales of goods and services in Q1 2025, a decline of approximately 39.5% from 257,067,188.65 in Q1 2024[24]. - The company reported a cash return from tax refunds of 3,152,070.60 in Q1 2025, down from 8,308,897.64 in Q1 2024, indicating a decrease of about 62%[24]. Investments and R&D - The company reported a significant investment income of ¥224,102,579.05 in Q1 2025, compared to ¥9,787,432.37 in Q1 2024, highlighting improved investment performance[21]. - The company's R&D expenses increased to ¥40,496,130.13 in Q1 2025, up from ¥16,813,108.12 in Q1 2024, indicating a focus on innovation[21]. - The company faced increased R&D expenditures at subsidiary Kaishitong, impacting profitability and contributing to the net loss reported[8]. Business Operations - The significant increase in operating revenue was primarily due to the new bismuth-related business from subsidiary Anhui Wandao and increased revenue recognition from subsidiary Kaishitong[8]. - The company plans to accelerate its transformation towards semiconductor equipment and materials, with the equipment and materials business currently accounting for approximately 75% of total revenue[12]. - The company has initiated the construction of bismuth material production capacity, with the materials business contributing to revenue and net profit for the first time in Q1 2025[13]. - In Q1 2025, the company received acceptance for three new self-developed devices, enhancing its service capabilities for new products and processes[14]. - The company aims to complete its capacity expansion for bismuth materials by 2025, with steady increases in annual capacity and sales expected[13]. - The company is focusing on enhancing its market share and profitability in the materials business by leveraging supply chain resources[13]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 53,506[10]. - The top ten shareholders hold a total of 72.56 million shares, representing 7.82% of the company's total shares, with the largest shareholder holding 225.87 million shares, or 24.27%[11]. - The company’s repurchase account holds 19.56 million shares, accounting for 2.10% of the total share capital as of March 31, 2025[12].