TC(SH:603421)2025-04-28 11:15Financial Performance - The company's operating revenue for Q1 2025 was ¥227,323,784.27, representing a decrease of 51.47% compared to ¥468,418,887.72 in the same period last year[4] - The net profit attributable to shareholders was -¥138,580,803.64, a decline from -¥104,694,271.93 in the previous year[4] - The net cash flow from operating activities was -¥184,654,974.62, worsening from -¥105,192,120.79 year-on-year[4] - Total operating revenue for Q1 2025 was ¥227,323,784.27, a decrease of 51.5% compared to ¥468,418,887.72 in Q1 2024[19] - Net profit for Q1 2025 was a loss of ¥138,580,803.64, compared to a loss of ¥104,694,271.93 in Q1 2024, representing a 32.4% increase in losses year-over-year[20] - Cash flow from operating activities for Q1 2025 was a net outflow of ¥184,654,974.62, worsening from a net outflow of ¥105,192,120.79 in Q1 2024[24] - The company reported a significant decrease in cash inflow from sales, which was ¥432,714,639.88 in Q1 2025, compared to ¥722,811,745.02 in Q1 2024, reflecting a decline of 40.1%[24] - The net loss for Q1 2025 was ¥82,686,385.94, compared to a net loss of ¥58,003,812.43 in Q1 2024, indicating a worsening of 42.55%[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,334,107,651.84, down 6.96% from ¥4,658,403,588.73 at the end of the previous year[5] - The company's current assets totaled CNY 2,704,980,330.07, down from CNY 3,016,956,133.61, indicating a decrease of about 10.31%[14] - Cash and cash equivalents decreased to CNY 512,095,807.20 from CNY 630,287,441.26, representing a decline of approximately 18.69%[14] - Accounts receivable decreased to CNY 1,041,829,560.07 from CNY 1,295,104,304.80, a reduction of about 19.61%[14] - The company's total liabilities decreased to CNY 1,335,706,879.85 from CNY 1,521,422,013.10, reflecting a decline of approximately 12.19%[16] - The total equity attributable to shareholders decreased to CNY 2,998,400,771.99 from CNY 3,136,981,575.63, indicating a decrease of about 4.41%[16] - The total non-current assets increased to ¥1,436,574,967.48 in the latest report from ¥1,381,306,390.70 previously, reflecting a growth of 4.00%[29] - The total liabilities decreased to ¥966,530,851.59 from ¥1,144,287,185.93, a reduction of 15.56%[29] - The company's total assets decreased to ¥4,560,578,640.53 from ¥4,821,021,360.81, a decline of 5.41%[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 33,183[10] - The largest shareholder, Zeng Fanyi, held 27.02% of the shares, totaling 176,189,440 shares[11] Challenges and Market Conditions - The decline in operating revenue was primarily due to adverse external environmental changes and limited sales channels for power products, with new products and markets not yet compensating for the loss[9] - The company is facing challenges in revenue generation from new products and markets, which are insufficient to offset the decline in traditional sales[9] - The company has no significant new product launches or technological developments reported during this period[13] - There are no updates on market expansion or mergers and acquisitions mentioned in the conference call[13] Cash Flow and Financing - The cash flow from operating activities showed a significant drop, with cash received from operating activities decreasing by 47.64% compared to the previous year[35] - The company raised ¥139,000,000.00 through borrowings in Q1 2025, compared to no borrowings in Q1 2024, indicating a shift in financing strategy[25] - Cash outflow from financing activities totaled $54.0 million, compared to $13.0 million in the previous period, reflecting increased financial obligations[36] - The cash flow from financing activities included $49.0 million for debt repayment, significantly higher than $5.0 million in the previous period[36] Research and Development - Research and development expenses for Q1 2025 were ¥88,858,870.63, a decrease of 30.1% from ¥127,020,116.58 in Q1 2024[19] - Research and development expenses for Q1 2025 were ¥59,058,342.47, down from ¥80,123,814.64 in Q1 2024, a decrease of 26.30%[31] Future Outlook - The company plans to implement new accounting standards starting in 2025, which may impact future financial reporting[37]