2025-04-28 15:15Financial Performance - The company's operating revenue for Q1 2025 was ¥10,526,272.58, representing a decrease of 19.92% compared to the same period last year[4] - The net profit attributable to shareholders was -¥93,008,005.78, showing a slight increase in loss compared to -¥91,204,404.13 in the previous year[4] - The basic and diluted earnings per share were both -¥0.40, compared to -¥0.55 in the same period last year[5] - Total operating revenue for Q1 2025 was CNY 10,526,272.58, a decrease of 20% compared to CNY 13,143,998.29 in Q1 2024[18] - Net loss for Q1 2025 was CNY 114,559,560.15, compared to a net loss of CNY 105,373,005.48 in Q1 2024, indicating an increase in losses of about 8.3%[19] - Total comprehensive loss attributable to shareholders of the parent company was CNY 93,008,005.78 in Q1 2025, compared to CNY 91,204,404.13 in Q1 2024[19] Research and Development - Research and development (R&D) expenses totaled ¥17,278,538.51, a significant decrease of 47.61% year-on-year[4] - The ratio of R&D expenses to operating revenue was 164.15%, down from 250.90% in the previous year, indicating a reduction in R&D intensity[4] - Research and development expenses decreased to CNY 12,539,215.39 in Q1 2025 from CNY 23,397,306.09 in Q1 2024, a reduction of approximately 46.6%[18] Cash Flow and Liquidity - The net cash flow from operating activities was -¥88,279,579.38, indicating continued cash outflow from operations[5] - Cash flow from operating activities for Q1 2025 was negative CNY 88,279,579.38, compared to negative CNY 79,890,325.92 in Q1 2024, indicating a worsening cash flow situation[22] - Cash inflow from operating activities totaled CNY 57,174,288.95 in Q1 2025, down from CNY 89,453,879.93 in Q1 2024, a decline of about 36%[22] - The company's cash and cash equivalents decreased to RMB 532,947,465.71 from RMB 722,234,518.26, reflecting a decline of about 26.3%[15] - The ending balance of cash and cash equivalents was $526,919,632.70, down from $719,392,973.65 at the beginning of the period[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,505,389,738.70, a decrease of 5.72% from the end of the previous year[4] - The equity attributable to shareholders was ¥2,468,384,271.64, down 3.62% from the previous year-end[4] - The company reported a net loss of RMB 1,037,297,564.33 as of March 31, 2025, compared to a net loss of RMB 944,289,558.55 at the end of 2024[17] - Total current liabilities decreased to RMB 1,600,311,891.46 from RMB 1,754,569,233.81, a reduction of approximately 8.8%[17] - The company's total equity decreased to RMB 2,729,208,595.31 from RMB 2,843,344,378.21, indicating a decline of about 4%[17] - The company’s long-term equity investments decreased to RMB 262,721,728.04 from RMB 283,798,699.12, a reduction of approximately 7.4%[16] - The company’s total non-current liabilities decreased to RMB 175,869,251.93 from RMB 181,055,251.09, a decline of about 2.9%[17] Government Support and Investments - The company received government subsidies amounting to ¥6,026,768.85, which positively impacted the non-recurring gains[7] - The company plans to acquire 100% equity of Danzhou Xuyang Hydrogen Energy Co., Ltd. through a share issuance and raise supporting funds not exceeding 100% of the transaction price[13] Management and Future Plans - The company plans to implement new accounting standards starting in 2025, which may affect future financial reporting[24] - The company’s management team includes Zhang Guoqiang as the responsible person and Song Haiying as the accounting supervisor[23]