SERES(SH:601127)2025-04-29 12:50Financial Performance - The company's operating revenue for Q1 2025 was ¥19,147,080,403.63, a decrease of 27.91% compared to ¥26,560,677,504.81 in the same period last year[3] - Net profit attributable to shareholders increased by 240.60% to ¥747,793,485.81 from ¥219,551,774.68 year-on-year[3] - The net profit after deducting non-recurring gains and losses rose by 244.34% to ¥393,854,971.81 compared to ¥114,379,377.77 in the previous year[3] - Basic and diluted earnings per share were both ¥0.50, reflecting a 233.33% increase from ¥0.15 in the same period last year[3] - The weighted average return on equity increased by 3.99 percentage points to 5.90% from 1.91% year-on-year[3] - The company reported a net loss of CNY 1.92 billion for Q1 2025, an improvement from a loss of CNY 2.67 billion in Q1 2024[13] - The total comprehensive income for the first quarter of 2025 was CNY 751,509,531.78, compared to CNY 92,267,333.40 in the same quarter of 2024, showing an increase of approximately 715%[18] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥7,630,293,915.39, a decline of 742.85% compared to ¥1,186,944,941.43 in the previous year[3] - The company reported a net cash outflow from operating activities of CNY -7,630,293,915.39 in Q1 2025, contrasting with a net inflow of CNY 1,186,944,941.43 in Q1 2024[21] - The net cash inflow from financing activities amounted to ¥9,139,985,383.31, compared to a net outflow of ¥320,048,561.31 in the previous period[22] - The total cash and cash equivalents at the end of the period reached ¥9,818,630,494.84, an increase from ¥2,678,895,535.67 in the previous period[22] - The net increase in cash and cash equivalents was ¥3,484,948,745.66, contrasting with a decrease of ¥1,800,823,312.79 in the previous period[22] - The cash inflow from financing activities totaled ¥9,520,604,600.00, while cash outflow was ¥380,619,216.69[22] - The beginning balance of cash and cash equivalents was ¥6,333,681,749.18, indicating a strong liquidity position[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥98,709,670,544.55, an increase of 4.61% from ¥94,363,958,922.89 at the end of the previous year[3] - Current assets decreased to CNY 56.12 billion as of March 31, 2025, from CNY 66.00 billion at the end of 2024, a decline of 14.1%[11] - Total liabilities decreased to CNY 75.83 billion as of March 31, 2025, from CNY 82.46 billion at the end of 2024, a reduction of 8.1%[13] - Shareholders' equity increased to CNY 22.88 billion, up from CNY 11.91 billion, reflecting a growth of 92.5%[13] - Long-term borrowings rose to CNY 4.43 billion from CNY 0.69 billion, indicating a significant increase[13] Operational Efficiency - Total operating costs for Q1 2025 were CNY 18.58 billion, down from CNY 26.40 billion in Q1 2024, reflecting a reduction of 29.7%[16] - The company's total operating expenses in Q1 2025 were CNY 36,514,063,432.33, compared to CNY 28,136,547,674.74 in Q1 2024, indicating an increase of approximately 29.7%[21] - The operating profit for the first quarter of 2025 was CNY 887,597,879.16, compared to CNY 313,458,934.70 in Q1 2024, reflecting an increase of approximately 183%[17] Strategic Initiatives - The company optimized its product structure, leading to an increase in sales gross margin and higher interest income from deposits during the reporting period[5] - The company is expanding its market presence through strategic investments, including acquiring equity in Chongqing Liangjiang New Area Longsheng New Energy Technology Co., Ltd.[5] - The company is focusing on new product development and market expansion strategies to enhance future growth prospects[16] Research and Development - Research and development expenses increased to CNY 1,050,811,251.11 in Q1 2025 from CNY 953,941,850.77 in Q1 2024, marking a rise of about 10.1%[17] Non-Recurring Gains - The company reported non-recurring gains totaling ¥353,938,514.00, primarily from government subsidies and asset disposals[5] Accounting and Management - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[22] - The company’s financial management is overseen by Zhang Zhengping, with Liu Lian responsible for accounting operations[22]