Financial Performance - The company achieved operating revenue of RMB 522.79 million in 2024, representing a year-on-year growth of 25.98%[3]. - The net profit for the year was a loss of RMB 76.13 million, a significant decline of 867.30% compared to the previous year[3]. - The company will not distribute profits or dividends for the 2024 fiscal year due to the negative net profit[5]. - The net cash flow from operating activities for 2024 was -¥169,442,261.02, compared to -¥982,316.66 in 2023, indicating a worsening cash flow situation[26]. - The total assets as of the end of 2024 were ¥1,651,985,004.40, down 3.22% from ¥1,706,985,461.01 at the end of 2023[26]. - The net profit attributable to shareholders of the listed company for 2024 was -¥76,127,407.96, a significant decrease of 867.30% from ¥9,921,406.66 in 2023[26]. - The company's comprehensive gross margin for 2024 was 21.77%[111]. - The weighted average return on equity decreased by 5.77 percentage points to -4.83%[28]. - The net profit excluding non-recurring gains and losses for Q4 2024 was -55.49 million CNY, reflecting ongoing financial challenges[32]. Research and Development - Research and development expenses increased by 71.00% year-on-year, accounting for 20.59% of total operating revenue[3]. - The company is in a high-investment phase for research and development, which is expected to drive future growth despite current losses[3]. - The company's R&D investment was approximately 107.65 million RMB, accounting for 20.59% of operating revenue[40]. - The company is investing $10 million in new technology development focused on semiconductor advancements[13]. - The company has established a complete technical R&D system based on various materials and processes, enhancing its innovation capabilities in RF front-end chip design[96]. - The company’s R&D personnel increased by 18.52% to 96 individuals, contributing to its enhanced research capabilities[82]. - The company has developed core technologies such as high-integration adaptive RF power amplifier technology[97]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2024[13]. - A strategic acquisition of a local tech firm was announced, expected to enhance the company's R&D capabilities and add $30 million in annual revenue[13]. - The company is exploring strategic acquisitions to bolster its market position, with a focus on companies in the AI and IoT sectors[110]. - The company is actively expanding its overseas market presence, with Wi-Fi 7 products already being adopted by several operators and end customers in Europe and Southeast Asia[58]. - The company has established long-term cooperative relationships with major domestic and international clients, contributing to rapid business growth and sustainable development[99]. Product Development and Innovation - New product launches included a next-generation communication device, projected to contribute an additional $50 million in revenue over the next year[13]. - The company successfully launched multiple Wi-Fi 7 FEM, IoT, V2X series chips, and products in the low-altitude economy sector, enhancing its product line and market share[41]. - The company has developed a complete product line for Wi-Fi FEM, including Wi-Fi 5, Wi-Fi 6, and Wi-Fi 7, with performance metrics comparable to leading international competitors[80]. - The company is focusing on high-performance, high-linearity, and high-reliability Wi-Fi RF front-end chips and modules, with ongoing R&D investments to enhance product capabilities[58]. - The company is also developing IoT FEM products to cater to the growing demand in the Internet of Things market, integrating multiple communication protocols[63]. Legal and Compliance Issues - The company is currently facing significant legal expenses related to patent litigation and investigations, contributing to the financial losses[3]. - The company has established a robust compliance management system to ensure legal and regulatory adherence, which is crucial for sustainable development[53]. - The management expenses surged by 148.23% to ¥78,298,559.04, largely due to increased litigation and legal fees[127]. Risks and Challenges - The company has outlined various risks and countermeasures in its management discussion section of the report[3]. - The company faces significant competition from international firms like Skyworks and Qorvo, which dominate market share[105]. - There is a significant risk of market demand fluctuations due to macroeconomic factors such as global inflation and trade environments, which could adversely affect sales growth[120]. - The company’s ability to compete may be hindered by the increasing number of domestic competitors and potential pricing strategies that could impact profit margins[119]. Shareholder and Investor Relations - The board of directors has approved the decision to not issue new shares or distribute capital reserves as dividends for 2024[5]. - The company has implemented a stock repurchase plan to enhance shareholder value and boost investor confidence, with the second round of repurchases utilizing both self-funding and special loan funds[54]. - The company has repurchased over 30 million RMB worth of its shares for employee stock ownership plans, emphasizing talent development and team building[51].

Financial Performance - The company reported a net loss of CNY 1.377 billion for 2024, with a net profit attributable to shareholders of CNY -1.379 billion, and a net profit of CNY -1.612 billion after deducting non-recurring gains and losses [3]. - Revenue for 2024 was CNY 4.349 billion, representing a year-on-year decline of 32.49% [4]. - Cumulative undistributed profits reached CNY -4.303 billion as of December 31, 2024 [3]. - The company's operating revenue for 2024 was approximately RMB 4.35 billion, a decrease of 32.49% compared to RMB 6.44 billion in 2023 [23]. - The net profit attributable to shareholders for 2024 was a loss of approximately RMB 1.38 billion, compared to a profit of RMB 71.75 million in 2023, representing a decrease of 2,022.46% [23]. - The company's total assets decreased by 8.60% to approximately RMB 14.87 billion at the end of 2024, down from RMB 16.27 billion at the end of 2023 [23]. - The net assets attributable to shareholders decreased by 13.72% to approximately RMB 8.77 billion at the end of 2024, compared to RMB 10.16 billion at the end of 2023 [23]. - The basic earnings per share for 2024 was -RMB 2.02, a decrease of 2,120.00% from RMB 0.10 in 2023 [24]. - The weighted average return on net assets for 2024 was -14.55%, a decrease of 15.26 percentage points from 0.71% in 2023 [24]. Cash Flow and Management - The company emphasized a "cash flow first" strategy, achieving the best operating cash flow since its listing, despite significant losses [3]. - The net cash flow from operating activities improved to a negative RMB 341.66 million in 2024, compared to a negative RMB 777.87 million in 2023 [23]. - The cash collection ratio for the year was 109.40%, an increase of 26.04 percentage points year-on-year, with average sales collection per employee rising to CNY 628,500, up 9.46% [37]. - The company faces risks related to significant performance declines, financial strain from high R&D costs, and potential cash flow issues due to increasing accounts receivable [4][5][7]. - The company emphasized cash flow management to improve project payment quality amid declining revenue and gross margins [25]. Research and Development - The company is focusing on R&D in core cybersecurity technologies and has begun to implement AI in its product lines to enhance efficiency [3]. - The R&D expenditure as a percentage of operating revenue increased to 32.45% in 2024, up by 9.39 percentage points from 23.06% in 2023 [24]. - The total R&D investment for the year was approximately ¥1.41 billion, a decrease of 4.99% compared to the previous year, while the proportion of R&D investment to operating income increased by 9.39 percentage points to 32.45% [125][126]. - The company has developed eight core R&D platforms to enhance efficiency and reduce development costs, addressing issues of high costs and long cycles [142]. - The company has launched AI-assisted programming tools, such as "Qi Anxin CodeGen," which have become essential for R&D personnel [142]. Market Challenges and Strategies - The company acknowledges the uncertainty of returning to profitability in the short term due to ongoing investments in R&D and services [3]. - The company faces challenges due to macroeconomic fluctuations, leading to a reduction in IT budgets and delays in new cybersecurity project implementations [25]. - The company is committed to investing in product development, market promotion, and sales to mitigate risks associated with declining revenue and profitability [4]. - The company plans to avoid cash dividends, stock bonuses, or capital reserve transfers for the 2024 profit distribution [9]. - The company aims to enhance cash flow and expense management while targeting steady revenue growth and maintaining leadership in the cybersecurity industry by focusing on core products and customers, improving distributor effectiveness, and expanding into overseas markets [45]. Product Development and Innovation - The company has integrated its product line into four major platforms: cloud and big data security, endpoint security, boundary security, and security operations, focusing on practical application, AI integration, platform development, and service-oriented products [39]. - The company has implemented AI technologies across its product lines, with an 80% usage rate of AI code assistants among R&D personnel by the end of Q1 2025 [40]. - The company plans to launch the "AI+ Code Guardian" product in February 2025, marking a significant advancement in AI-driven security development in the financial sector [40]. - The company has developed a comprehensive security technology framework based on the "endogenous security" concept, achieving numerous core security capabilities across new IT scenarios, including endpoint security detection and response, next-generation security engines, and advanced threat detection [84]. - The company has launched multiple new products in 2024, including the Industrial Security Isolation and Information Exchange System V1.0, which supports deep parsing of industrial protocols and is suitable for various industrial sectors [117]. Competitive Position and Recognition - The company has achieved recognition as the top competitor in the Chinese cybersecurity industry for four consecutive years and has received multiple awards for its contributions to technology and innovation [42]. - The company has been ranked first in the "Top 50 Competitiveness of China's Cybersecurity Industry" for four consecutive years by CCIA [60]. - The company has maintained its position as the number one provider in the endpoint security software market for seven consecutive years, and in the security analysis and intelligence market for five consecutive years [60]. - The company was recognized as a representative vendor in the field of attack surface management (ASM) by Gartner in July 2024 [65]. - The company achieved significant recognition in 2023, being named the top cybersecurity enterprise in China and receiving multiple awards for its innovative products and contributions to the industry [73]. Future Outlook - The company anticipates continued growth driven by the ongoing digital transformation and the increasing adoption of Generative AI (GenAI) in cybersecurity, reshaping defense strategies [74]. - Future guidance indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion efforts [136]. - The company aims to achieve steady year-on-year growth in revenue and profit in 2025, while significantly improving operating cash flow [198]. - The company is focusing on expanding its market presence through innovative product development and strategic partnerships [129]. - The company is targeting the expansion of its global business to achieve growth in international markets [197].

Financial Performance - The company's operating revenue for Q1 2025 was ¥209.17 million, a decrease of 29.35% compared to ¥296.08 million in the same period last year[4] - Net profit attributable to shareholders was ¥5.52 million, down 90.33% from ¥57.05 million year-on-year[4] - The net cash flow from operating activities was -¥52.58 million, a decline of 133.81% compared to -¥22.49 million in the previous year[4] - Total operating revenue for Q1 2025 was ¥209.17 million, a decrease of 29.3% compared to ¥296.08 million in Q1 2024[18] - Net profit for Q1 2025 was ¥1.86 million, a significant decline of 96.5% from ¥53.39 million in Q1 2024[19] - The company reported a net cash outflow from operating activities of ¥52.58 million in Q1 2025, compared to an outflow of ¥22.49 million in Q1 2024[22] - Basic earnings per share for Q1 2025 were ¥0.04, down from ¥0.54 in Q1 2024[19] Research and Development - Research and development (R&D) expenses totaled ¥9.80 million, an increase of 25.27% from ¥7.82 million year-on-year[4] - The proportion of R&D expenses to operating revenue rose to 4.68%, up 2.04 percentage points from 2.64% in the previous year[5] - Research and development expenses increased to ¥9.80 million in Q1 2025, up 25.3% from ¥7.82 million in Q1 2024[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥3.23 billion, a slight increase of 0.35% from ¥3.22 billion at the end of the previous year[5] - The company's total current assets as of March 31, 2025, amount to ¥2,185,790,601.82, an increase from ¥2,168,021,166.00 at the end of 2024[14] - The total assets of the company are ¥3,230,806,444.01, slightly up from ¥3,219,540,808.87[15] - The total liabilities increased to ¥827.61 million in Q1 2025, compared to ¥817.42 million in Q1 2024[16] - Current liabilities total ¥558,753,866.90, a decrease from ¥568,365,987.80[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,435[11] - The largest shareholder, China Pharmaceutical Industrial Research Institute, holds 29,076,360 shares, accounting for 20.62% of total shares[11] Cash Flow and Liquidity - The company's cash and cash equivalents stand at ¥1,314,529,327.56, down from ¥1,369,560,001.57[14] - The net cash flow from investing activities was -705,993.51, indicating a significant outflow compared to the previous period's outflow of -37,560,397.66[23] - The net cash flow from financing activities was -1,716,004.99, a decrease from -2,064,970.49 in the prior period[23] - The total net increase in cash and cash equivalents was -55,030,674.01, compared to -62,114,379.74 in the previous period[23] - The ending balance of cash and cash equivalents was 1,314,529,327.56, down from 1,369,560,001.57 at the beginning of the period[23] - The company reported cash outflows related to financing activities, including dividend payments of 2,925.00 and other financing-related cash payments of 1,713,079.99[23] - The cash outflow from investment activities totaled 12,548,590.44, reflecting ongoing investment commitments[23] - The company’s cash and cash equivalents decreased significantly, highlighting potential liquidity concerns moving forward[23] - The financial results indicate a need for strategic adjustments in investment and financing activities to improve cash flow[23] Market Presence and Strategy - The number of new orders for core business (IND and NDA) increased by 18.37% year-on-year, indicating growth in the company's market presence[5] - The company is focusing on expanding its international market presence, with significant growth in new orders from overseas markets during the reporting period[5] - The company is actively investing in innovative drug development, with notable growth in contract amounts across various emerging fields[5] Impairment and Other Losses - The company recorded a credit impairment loss of ¥3.18 million in Q1 2025, compared to a loss of ¥1.68 million in Q1 2024[18] - Other comprehensive income after tax for Q1 2025 was a loss of ¥81,326.82, with no prior year comparison available[19] Accounting Practices - The company did not apply new accounting standards starting from 2025, indicating stability in financial reporting practices[23]

Financial Performance - The company's operating revenue for Q1 2025 was ¥337,775,516.09, representing a 54.23% increase compared to ¥219,014,289.15 in the same period last year[3]. - Net profit attributable to shareholders was ¥35,878,705.93, up 27.94% from ¥28,042,771.41 year-on-year[3]. - The net profit after deducting non-recurring gains and losses increased by 59.40%, reaching ¥31,620,979.66 compared to ¥19,837,590.04 in the previous year[3]. - Basic and diluted earnings per share were both ¥0.21, reflecting a 23.53% increase from ¥0.17 in the same period last year[4]. - Total operating revenue for Q1 2025 reached ¥337,775,516.09, a significant increase of 54.1% compared to ¥219,014,289.15 in Q1 2024[14]. - Net profit for Q1 2025 was ¥35,878,705.93, representing a 28.1% increase from ¥28,042,771.41 in Q1 2024[15]. - The company reported a total profit of ¥37,981,003.65 for Q1 2025, up from ¥33,225,875.41 in Q1 2024, marking a growth of 22.5%[15]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥183,570,856.15, compared to -¥87,527,093.12 in the previous year, indicating increased cash outflows due to business growth[3][6]. - Cash flow from operating activities for Q1 2025 showed a net outflow of ¥183,570,856.15, worsening from a net outflow of ¥87,527,093.12 in Q1 2024[17]. - Cash flow from investing activities for Q1 2025 was a net inflow of ¥39,773,063.82, compared to a net outflow of ¥454,137,579.95 in Q1 2024[18]. - The company's cash and cash equivalents decreased to RMB 398,392,675.09 from RMB 525,092,329.49, representing a decline of about 24.1%[10]. - Cash and cash equivalents at the end of Q1 2025 totaled ¥393,392,675.09, down from ¥717,498,650.83 at the end of Q1 2024[18]. - Total assets at the end of the reporting period were ¥4,134,036,553.59, a 2.21% increase from ¥4,044,557,850.71 at the end of the previous year[4]. - As of March 31, 2025, the total current assets amounted to RMB 3,897,275,798.06, an increase from RMB 3,822,975,519.90 as of December 31, 2024, reflecting a growth of approximately 1.94%[11]. Liabilities and Equity - Total liabilities as of March 31, 2025, were RMB 2,023,858,273.07, compared to RMB 1,970,289,174.60 at the end of 2024, reflecting an increase of approximately 2.7%[12]. - The total equity attributable to shareholders increased to RMB 2,110,178,280.52 from RMB 2,074,268,676.11, representing a growth of approximately 1.73%[12]. - The company reported a total current liability of RMB 1,913,130,624.20, up from RMB 1,868,119,643.01, which is an increase of about 2.4%[12]. Research and Development - Research and development expenses totaled ¥31,838,927.34, a 42.34% increase from ¥22,367,450.92 in the same period last year[4]. - The proportion of R&D expenses to operating revenue decreased to 9.43% from 10.21% year-on-year, a reduction of 0.78 percentage points[4]. - Research and development expenses for Q1 2025 were ¥31,838,927.34, an increase of 42.5% from ¥22,367,450.92 in Q1 2024[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,193[8]. - The company has not reported any significant changes in the shareholder structure or any related party transactions during the reporting period[9]. Market and Strategy - The company attributed revenue growth to strong demand in the semiconductor equipment market and its competitive product advantages[6]. - There are no significant new strategies or product developments mentioned in the current report[10].

奇安信科技集团股份有限公司2025 年第一季度报告 证券代码：688561 证券简称：奇安信 奇安信科技集团股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同期 | | | --- | --- | --- | --- | --- | | | | | 增减变动幅度(%) | | | 营业收入 | 686,081,196.14 | 704,746,571.12 | -2.65 | | | 归属于上市公司股东的净利 | -417,684,036.61 | -480,282,024.12 | | 不适用 | | 润 | | | | | | 归属于上市公司股东的扣除 ...

Financial Performance - The company's operating revenue for 2024 reached RMB 1,564,932,497.13, representing a 1.35% increase compared to RMB 1,544,081,894.61 in 2023[24]. - The net profit attributable to shareholders of the listed company for 2024 was RMB -26,211,631.60, a decrease of 161.94% from RMB 42,318,630.74 in 2023[25]. - The net cash flow from operating activities for 2024 was RMB -156,880,149.19, an improvement from RMB -360,852,743.85 in 2023[25]. - The company's total assets increased by 8.66% to RMB 2,876,111,923.70 at the end of 2024, compared to RMB 2,646,866,461.26 at the end of 2023[25]. - The basic earnings per share for 2024 was RMB -0.22, a decline of 162.86% from RMB 0.35 in 2023[26]. - The company's gross profit margins for 2022, 2023, and 2024 are 5.58%, 10.70%, and 9.52%, respectively, indicating significant fluctuations primarily due to production scale and precious metal price volatility[84]. - The company's revenue for 2022, 2023, and 2024 is reported at 447 million, 1.544 billion, and 1.565 billion RMB, respectively, showing a substantial increase in revenue over the years[84]. Shareholder Actions - The company implemented a share buyback program in 2024, with a total repurchase amount of ¥33,000,622.63, which accounted for 125.90% of the net profit attributable to shareholders for the year[7]. - The board of directors decided not to distribute cash dividends, issue bonus shares, or increase capital reserves for the year 2024, citing significant capital expenditure plans as the reason[7]. - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for shareholders[178]. Governance and Compliance - The company's board and supervisory board members were all present at the board meeting, ensuring governance compliance[6]. - The company has completed the election of the fourth board of directors and supervisory board, optimizing 69 internal regulations to enhance management effectiveness[40]. - The report indicates that there are no significant differences in corporate governance compared to regulations set by the China Securities Regulatory Commission[134]. - The company is committed to maintaining compliance with corporate governance standards and has not encountered any significant legal or regulatory issues[134]. - The company has established five specialized committees under the board of directors to provide professional advice on major decisions[134]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[5]. - The company has detailed risk factors outlined in the management discussion and analysis section of the report[5]. - The company faces risks related to the rapid upgrade of emission standards, which may require continuous development of higher-performance catalysts to meet new requirements[77]. - The company is at risk of losing core technical personnel, which could impact its technological innovation and competitive advantage in the environmental catalyst industry[79]. - The company is exposed to significant risks from the high cost and price volatility of platinum group metals, which constitute a large portion of its main business costs[82]. Research and Development - Research and development expenses accounted for 7.01% of operating revenue in 2024, up from 5.63% in 2023, indicating a focus on innovation[26]. - R&D investment reached ¥10,969.34 million, a year-on-year increase of 26.13%[38]. - The company has developed a comprehensive research and development model, focusing on independent R&D while collaborating with academic institutions to drive innovation and maintain competitive advantages[49]. - The company is actively engaged in the research and development of sodium-ion batteries and new power batteries, aiming to establish a complete technical closed-loop system for energy storage[74]. - The company has established a strong technical advantage in environmental catalysts through nearly 20 years of technological accumulation, creating a complete technical chain that includes rare earth oxygen storage material synthesis and high-temperature material preparation[73]. Market Trends and Expansion - The global hydrogen fuel cell market is projected to reach $7.417 billion in 2024 and $40.2 billion by 2031, with a CAGR of 27.7% from 2025 to 2031, indicating strong demand for high-performance catalysts[51]. - In 2024, China's new energy storage market is expected to see an addition of 109.8 GWh, with cumulative installed capacity surpassing pumped storage, reflecting a positive market trend[52]. - The company is actively expanding into the energy storage sector, providing solutions for various applications, including smart microgrids and household energy storage systems[44]. - The company is positioned as a leading domestic manufacturer in the environmental catalyst sector, having developed core technologies to break foreign monopolies in catalyst technology[43]. Environmental and Social Responsibility - The company actively integrates ESG management into its daily operations, focusing on environmental protection and social responsibility[183]. - The company has received an ESG rating of A- from Zhong Chengxin Green Finance[186]. - The company invested 182.61 million yuan in environmental protection funds during the reporting period[187]. - The total greenhouse gas emissions for the company amounted to 18,097.96 tons of CO2 equivalent, with emissions from fossil fuel combustion at 2,294.87 tons, and emissions from purchased electricity at 15,657.39 tons[200]. - The company has established a wastewater treatment plant with a design capacity of 160 m³/d, ensuring that 100% of wastewater discharged meets municipal standards[189]. Strategic Initiatives - The company is committed to digital transformation and optimizing management processes, including the integration of MES and ERP systems for improved operational efficiency[131]. - The company plans to expand its market presence in the internal combustion engine exhaust purification catalyst sector, focusing on high-performance and cost-effective products, while increasing brand awareness and market share[126]. - The company will enhance its talent development plan to build a management talent pool and improve human resource systems to support strategic goals[131]. - The company is exploring potential acquisitions to enhance its market position, with a budget of $100 million allocated for this purpose[143]. Operational Efficiency - The company aims to improve production efficiency and product quality through enhanced internal operations management and the application of intelligent technologies, ensuring product quality while increasing output and reducing costs[40]. - The company has implemented new strategies to improve customer retention, aiming for an increase of I% in customer loyalty metrics[144]. - Operational costs have been optimized, resulting in a reduction of H% in expenses compared to the previous year[144].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 402,838,256.87, representing a year-on-year increase of 7.52% compared to CNY 374,665,999.81 in the same period last year[5]. - The net profit attributable to shareholders decreased by 46.91% to CNY 7,701,600.96 from CNY 14,506,176.77 in the previous year[5]. - The basic and diluted earnings per share decreased by 50.00% to CNY 0.06 from CNY 0.12 in the same period last year[5]. - Net profit for Q1 2025 was ¥8,387,094.19, a decrease of 44.3% from ¥14,992,777.70 in Q1 2024[22]. - The operating profit for Q1 2025 was ¥8,337,952.59, down from ¥14,829,018.78 in Q1 2024, indicating a decline of 43.5%[22]. Cash Flow - The net cash flow from operating activities turned negative at CNY -170,561,806.74, a decline of 363.96% compared to CNY 64,617,510.20 in the same period last year[5]. - Cash received from sales of goods and services in Q1 2025 was ¥126,308,251.68, significantly lower than ¥239,216,668.65 in Q1 2024[24]. - The net cash flow from operating activities was -170,561,806.74, compared to 64,617,510.20 in the previous period[25]. - Cash inflow from investment activities totaled 42,608,305.56, down from 281,225,878.61 in the prior period[25]. - The total cash and cash equivalents at the end of the period were 54,458,470.00, down from 72,375,848.15 at the beginning[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,049,648,136.81, reflecting a 6.03% increase from CNY 2,876,111,923.70 at the end of the previous year[6]. - Total liabilities rose to ¥1,195,985,731.17 in Q1 2025, up from ¥1,030,882,573.12 in Q1 2024[19]. - Shareholders' equity increased to ¥1,853,662,405.64 in Q1 2025, compared to ¥1,845,229,350.58 in Q1 2024[19]. - The company's long-term investments decreased to ¥1,639,562 from ¥2,774,129, reflecting a decline of about 41.0%[17]. Expenses - Research and development expenses totaled CNY 25,441,529.18, an increase of 17.84% from CNY 21,589,303.18, accounting for 6.32% of operating revenue[5]. - Total operating costs for Q1 2025 were ¥401,811,739.90, up from ¥373,443,302.97 in Q1 2024, reflecting a 7.6% increase[22]. - The company paid 38,904,203.99 in cash to employees, an increase from 27,684,428.03 in the prior period[25]. - The cash outflow for taxes paid was 4,367,332.11, significantly higher than 453,628.70 previously[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,458[12]. - There are no significant changes in shareholder structure or major acquisitions reported in the latest financial disclosures[14]. Growth and Strategy - The company is actively cultivating new growth points, although increased sales and management expenses have impacted net profit[10]. - The company has not disclosed any new product developments or market expansion strategies during the reporting period[15].

中科星图股份有限公司2025 年第一季度报告 证券代码：688568 证券简称：中科星图 中科星图股份有限公司 2025 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 （一）主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 上年同期 | | 本报告期比上年同 期增减变动幅度(%) | | --- | --- | --- | --- | --- | | | | 调整前 | 调整后 | 调整后 | | 营业收入 | 504,334,589.59 | 418,601,682.06 | 418,601,682.06 | 20.48 | | 归属于上市公司股东的净利 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 40,449,728.91, representing a 9.16% increase compared to CNY 37,055,637.21 in the same period last year[3]. - Net profit attributable to shareholders increased by 81.13% to CNY 17,335,310.26 from CNY 9,570,428.87 year-over-year[3]. - The net profit after deducting non-recurring gains and losses surged by 120.92% to CNY 15,106,429.91 compared to CNY 6,837,995.72 in the previous year[3]. - Basic earnings per share rose by 38.67% to CNY 0.1689 from CNY 0.1218 in the same period last year[3]. - Total operating revenue for Q1 2025 reached CNY 40,449,728.91, an increase of 9.5% compared to CNY 37,055,637.21 in Q1 2024[18]. - Net profit for Q1 2025 was CNY 16,945,086.52, up 77.5% from CNY 9,570,428.87 in Q1 2024[19]. - Earnings per share (EPS) for Q1 2025 was CNY 0.1689, compared to CNY 0.1218 in Q1 2024, reflecting a 38.7% increase[20]. Research and Development - Research and development expenses totaled CNY 4,688,960.87, a decrease of 7.00% from CNY 5,042,019.28 in the previous year[3]. - The ratio of R&D expenses to operating revenue decreased by 2.01 percentage points to 11.59% from 13.61%[4]. - Research and development expenses for Q1 2025 were CNY 4,688,960.87, down from CNY 5,042,019.28 in Q1 2024, indicating a decrease of 7%[18]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 28.12%, reaching CNY -10,913,983.88 compared to CNY -15,183,534.13 in the previous year[3]. - The company reported a cash balance of approximately ¥272.99 million as of March 31, 2025, compared to ¥130.26 million on December 31, 2024, indicating a significant increase in liquidity[14]. - Cash inflow from operating activities in Q1 2025 was $12,738,914.03, compared to $13,278,020.48 in Q1 2024, reflecting a decrease of approximately 4.1%[23]. - Net cash outflow from operating activities in Q1 2025 was -$10,913,983.88, an improvement from -$15,183,534.13 in Q1 2024[24]. - Cash inflow from investment activities in Q1 2025 was $582,514,414.45, up from $437,593,829.22 in Q1 2024, representing an increase of about 33%[24]. - The net increase in cash and cash equivalents for Q1 2025 was $144,078,027.12, compared to a decrease of -$103,405,992.79 in Q1 2024[25]. - The ending balance of cash and cash equivalents for Q1 2025 was $270,474,290.73, significantly higher than $46,496,372.49 in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 937,790,744.77, a slight increase of 0.63% from CNY 931,889,981.58 at the end of the previous year[4]. - Total liabilities decreased to CNY 101,067,728.10 from CNY 122,922,694.15, a reduction of 17.7%[16]. - The equity attributable to shareholders increased by 2.18% to CNY 826,613,240.41 from CNY 808,967,287.43 at the end of the previous year[4]. - The company's equity attributable to shareholders increased to CNY 826,613,240.41 from CNY 808,967,287.43, marking a growth of 2.1%[17]. Shareholder Information - The major shareholder, 巨万里, holds 43.09% of the shares, while the top ten shareholders collectively hold a significant portion of the company's equity[9]. - The company has not engaged in any share lending or borrowing activities through margin trading, indicating stable shareholder positions[10]. Risks and Challenges - The company faces a risk of delisting if its audited profit or revenue falls below specified thresholds, with a warning that its stock may be flagged for delisting risk after the 2024 annual report[11]. - The company is currently in negotiations regarding pricing disputes with a major client, which may impact future revenue recognition and cash flow[12][13]. - The company has not yet initiated the pricing review process for military products, which adds uncertainty to the recoverability of accounts receivable[13]. - The company’s primary revenue source is from military product sales, particularly in the defense industry, which is subject to fluctuations based on client production plans[11]. Investment Strategy - The company has a total of ¥270 million in trading financial assets as of March 31, 2025, down from ¥425 million at the end of 2024, indicating a shift in investment strategy or liquidity management[14]. - The company plans to continue expanding its market presence and investing in new technologies, although specific figures were not disclosed in the call[22].

Financial Performance - The company's operating revenue for Q1 2025 was ¥538,906,533.66, a decrease of 48.58% compared to ¥1,047,962,891.87 in the same period last year[4] - The net profit attributable to shareholders was -¥188,801,982.52, representing a decline of 556.46% from a profit of ¥41,361,785.72 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥197,268,823.04, a decrease of 873.14% compared to ¥25,515,119.35 last year[4] - The basic and diluted earnings per share were both -¥0.77, down 485.00% from ¥0.20 in the same period last year[4] - Total revenue for Q1 2025 was CNY 538.91 million, a decrease of 48.6% compared to CNY 1,047.96 million in Q1 2024[15] - Operating profit for Q1 2025 was CNY -199.08 million, compared to a profit of CNY 35.22 million in Q1 2024[16] - Net profit for Q1 2025 was CNY -190.61 million, a significant decline from CNY 37.70 million in Q1 2024[17] - The company reported a basic and diluted earnings per share of CNY -0.77 for Q1 2025, compared to CNY 0.20 in Q1 2024[17] Research and Development - Research and development expenses totaled ¥117,269,853.00, accounting for 21.76% of operating revenue, an increase of 9.57 percentage points from 12.19%[5] - Research and development expenses for Q1 2025 were CNY 115.22 million, down from CNY 126.91 million in Q1 2024[15] Cash Flow and Liquidity - The net cash flow from operating activities was ¥84,262,960.72, a significant improvement from -¥880,713,044.20 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was CNY 84.26 million, a turnaround from a negative cash flow of CNY -880.71 million in Q1 2024[19] - Cash and cash equivalents increased by CNY 106.30 million in Q1 2025, compared to a decrease of CNY -253.09 million in Q1 2024[19] - The company generated CNY 1.01 billion in cash inflows from operating activities in Q1 2025, up from CNY 648.03 million in Q1 2024[19] - Investment activities generated a net cash inflow of CNY 28.53 million in Q1 2025, compared to a net outflow of CNY -128.95 million in Q1 2024[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,969,824,992.85, an increase of 4.09% from ¥11,498,956,762.63 at the end of the previous year[5] - As of March 31, 2025, total assets amounted to RMB 11,969,824,992.85, an increase from RMB 11,498,956,762.63 as of December 31, 2024, reflecting a growth of approximately 4.1%[12] - Current assets totaled RMB 9,093,285,925.08, up from RMB 8,744,777,331.96, indicating an increase of about 4%[13] - Total liabilities reached RMB 8,898,042,656.74, compared to RMB 8,281,185,882.73, marking an increase of around 7.5%[14] - Short-term borrowings decreased to RMB 2,052,958,245.16 from RMB 2,936,353,931.22, a reduction of about 30%[14] - The long-term borrowings increased to RMB 1,398,492,170.87 from RMB 824,388,510.91, indicating a rise of approximately 69.5%[14] - The company has maintained a stable capital structure with a paid-in capital of RMB 246,604,600.00, unchanged from the previous period[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,171[9] - The company's equity increased slightly, with total equity reported at RMB 3,071,782,336.11 as of March 31, 2025[14] Other Notable Information - The company reported non-recurring gains of ¥8,466,840.52 for the period, primarily from government subsidies and other income[6] - Accounts receivable stood at RMB 1,722,815,666.57, down from RMB 1,827,536,901.74, showing a decrease of approximately 5.7%[12] - The company reported a significant increase in contract liabilities, which rose to RMB 2,694,773,350.22 from RMB 2,228,745,428.66, reflecting a growth of about 21%[14] - The company will implement new accounting standards starting from 2025, affecting the financial statements from the beginning of that year[20]