福建天马科技集团股份有限公司2025 年第一季度报告 证券代码：603668 证券简称：天马科技 福建天马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(%) | | | 营业收入 | 1,495,937,682.16 | 1,361,432,056.46 | | 9.88 | | 归属于上市公司股东的净利 润 | 17,301,364.13 ...

Financial Performance - The company's operating revenue for 2024 reached ¥2,350,224,699.38, representing a 7.02% increase compared to ¥2,195,986,154.85 in 2023[26] - The net profit attributable to shareholders of the listed company was -¥49,098,979.53, a decrease of 211.00% from ¥44,232,089.55 in the previous year[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥54,129,914.26, down 251.56% from ¥35,714,402.86 in 2023[26] - The net cash flow from operating activities increased significantly to ¥193,502,193.81, a 334.33% rise from ¥44,552,117.23 in the previous year[26] - The total assets of the company at the end of 2024 were ¥6,045,615,210.30, reflecting a 9.59% increase from ¥5,516,420,403.90 at the end of 2023[26] - The net assets attributable to shareholders of the listed company increased to ¥2,628,155,919.06, a 49.96% increase from ¥1,752,604,843.99 in 2023[26] - The basic earnings per share decreased to -0.12 yuan, down 192.31% from the previous year[28] - The weighted average return on equity fell to -2.16%, a decrease of 4.69 percentage points year-on-year[28] Business Operations - The company continued to expand its formulation business, with the fifth batch of centralized procurement products, iodinated contrast agent, progressing well, having completed bidding in 28 provinces by February 2025[40] - The company is focusing on the integration of intermediates, APIs, and formulations while enhancing its international sales layout[40] - The company's domestic formulation business achieved sales revenue of CNY 558 million, a year-on-year increase of 13.75%[41] - International sales of contrast agent raw materials grew rapidly, with a year-on-year increase of 21%[41] - The company's formulation business in Ireland reported sales revenue of CNY 86.203 million, a year-on-year increase of 60%[41] - The company aims to achieve over 40% of its revenue from overseas business in 2024, with end customers across more than 30 countries on five continents[41] Research and Development - R&D expenses totaled ¥140,672,339.26, representing 6.07% of total revenue, with capitalized R&D accounting for 1.45%[70] - The company employed 390 R&D personnel, representing 22% of the total workforce[71] - The company has established multiple R&D bases across Zhejiang, Jiangxi, and Shanghai, equipped with modern laboratories for various research purposes[89] - The company is actively involved in the development of non-ionic iodine contrast agents and gadolinium-based agents[89] - The company achieved a research and development investment of 12,752.69 million RMB for API, representing 5.43% of operating revenue, with a year-on-year increase of 17.72%[103] Environmental Responsibility - The company invested 11,202.68 million CNY in environmental protection during the reporting period[163] - The company achieved a total wastewater discharge of 534,235 tons in 2024, with COD emissions of 170.32 tons and ammonia nitrogen emissions of 3.48 tons[164] - The company has committed to reducing carbon emissions through advanced production processes and the establishment of a photovoltaic power station[185] - The company has established a comprehensive self-monitoring plan for environmental compliance, which is publicly available on the Zhejiang Province self-monitoring information platform[181] - The company has improved its ability to treat high-concentration COD and high-salinity wastewater through technological upgrades[183] Corporate Governance - The company held three shareholder meetings during the reporting period, all in compliance with relevant laws and regulations[124] - The company has independent directors serving on multiple boards, enhancing governance and oversight[129] - The remuneration decision process for directors and senior management is governed by the company's compensation management policy[130] - The company has implemented a performance evaluation system to determine actual remuneration for its directors and senior management[130] - The company has not faced significant changes in competition from controlling shareholders or related parties[124] Future Outlook - The company provided guidance for 2024, expecting revenue to grow by 12% to approximately $1.68 billion[136] - New product launches are anticipated to contribute an additional $200 million in revenue in 2024[137] - The company plans to ensure the timely completion of the project for producing 1,550 tons of non-ionic CT contrast agent raw materials, which will enhance existing production capacity and introduce new products[116] - The company is focused on advancing the registration and certification of key products, including iodinated contrast agents and MRI contrast agents, in 2025[115] - The company plans to enhance its marketing strategy, increasing the budget by 20% to drive user engagement and brand awareness[191]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 379,863,091.11, representing a 42.18% increase compared to CNY 267,169,315.55 in the same period last year[4] - The net profit attributable to shareholders was CNY 114,069,380.51, a significant recovery from a loss of CNY 64,578,547.45 in the previous year[4] - The basic earnings per share increased to CNY 0.70 from a loss of CNY 0.40 per share in the same period last year[4] - The weighted average return on equity improved to 17.01%, an increase of 22.67 percentage points from -5.66% in the previous year[4] - Net profit for Q1 2025 was RMB 113,973,506.39, compared to a net loss of RMB 68,750,128.80 in Q1 2024, marking a turnaround in profitability[19] - The total comprehensive income for Q1 2025 was RMB 134,455,232.76, compared to a loss of RMB 79,617,350.16 in Q1 2024[19] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -521,628.23, an improvement from CNY -28,353,219.00 in the previous year[4] - Cash flow from operating activities for Q1 2025 was RMB -521,628.23, an improvement from RMB -28,353,219.00 in Q1 2024[21] - Cash and cash equivalents at the end of Q1 2025 totaled RMB 160,526,446.28, up from RMB 85,387,805.99 at the end of Q1 2024[22] - The company's cash and cash equivalents increased to RMB 299,429,229.09 from RMB 214,422,156.99, marking an increase of approximately 39.6%[13] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,840,472,890.68, down 6.46% from CNY 3,036,562,752.41 at the end of the previous year[5] - The company reported a total asset of RMB 2,840,472,890.68 as of March 31, 2025, down from RMB 3,036,562,752.41 at the end of 2024, representing a decrease of approximately 6.4%[13] - Current assets decreased to RMB 991,033,580.97 from RMB 1,084,568,351.40, reflecting a decline of about 8.6%[13] - Total liabilities decreased to RMB 2,000,482,905.96 from RMB 2,287,737,994.08, a reduction of about 12.6%[15] - The company's equity attributable to shareholders increased to RMB 727,674,242.71 from RMB 614,158,355.30, reflecting an increase of approximately 18.5%[15] Shareholder Information - The company had a total of 7,351 common shareholders at the end of the reporting period[8] - The top two shareholders, Zhang Huili and Zhang Jianfang, held 15.86% and 14.81% of the shares, respectively, both of which are pledged[9] Divestiture and Strategy - The company plans to sell its controlling subsidiary, GGS, for a transaction price of USD 61 million, subject to adjustments as per the stock purchase agreement[11] - The company has completed the transfer of GGS to Globus Americas Holdings, LLC, and will no longer consolidate GGS in its financial statements[12] - The company aims to optimize its asset structure and reduce management costs through this divestiture strategy[11] Revenue and Costs - Total operating costs for Q1 2025 were RMB 352,711,904.69, up from RMB 312,182,525.46 in Q1 2024, reflecting a year-over-year increase of 12.9%[17] - The increase in operating revenue was mainly attributed to the gradual improvement in capacity utilization of the Vietnam project[7] - The company experienced a substantial increase in sales revenue from goods and services, totaling RMB 417,226,203.57 in Q1 2025, compared to RMB 288,296,000.58 in Q1 2024[21] - The company reported a significant investment income of RMB 104,982,808.50 in Q1 2025, contrasting with a loss of RMB 1,110,981.88 in the same period last year[17] - The company reported a significant decrease in management expenses, which fell to RMB 26,122,146.62 in Q1 2025 from RMB 45,379,604.13 in Q1 2024, a reduction of 42.5%[17]

Financial Performance - In 2024, the total cash dividend distributed by the company amounted to 20,093,429.64 RMB, accounting for 77.19% of the net profit attributable to shareholders of the listed company[10]. - The company did not distribute cash dividends or issue bonus shares for the 2024 fiscal year[10]. - The company's operating revenue for 2024 was approximately ¥5.85 billion, a decrease of 16.34% compared to ¥6.99 billion in 2023[28]. - Net profit attributable to shareholders for 2024 was approximately ¥26.03 million, a significant recovery from a loss of ¥187.55 million in 2023[28]. - Basic earnings per share for 2024 improved to ¥0.05, compared to a loss of ¥0.39 per share in 2023[29]. - The weighted average return on equity increased to 1.18%, up 10.70 percentage points from -9.52% in 2023[29]. - The company's net assets attributable to shareholders increased by 1.19% to approximately ¥2.24 billion compared to ¥2.21 billion in 2023[28]. - The total assets at the end of 2024 were approximately ¥9.02 billion, a slight decrease of 0.61% from ¥9.08 billion in 2023[28]. - The total profit amounted to CNY 5,597.75 million, an increase of CNY 21,948.49 million year-on-year[159]. - The net profit attributable to the parent company reached CNY 2,603.27 million, up by CNY 21,358.69 million from the previous year[159]. Audit and Compliance - The company reported a standard unqualified audit opinion from Rongcheng Accounting Firm for the fiscal year[9]. - The board of directors and supervisory board members confirmed the authenticity, accuracy, and completeness of the annual report[7]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[12]. - There are no violations of decision-making procedures for providing guarantees to external parties[12]. - The company's financial report is prepared in accordance with the relevant accounting standards and regulations[9]. Strategic Planning and Risk Management - The company plans to authorize the board to decide on the mid-term profit distribution plan for 2025, with cash dividends not exceeding 20% of the net profit for the period[10]. - The company has detailed risk descriptions related to its future development in the management discussion and analysis section[13]. - The company's future strategic and operational plans are subject to risks and do not constitute substantial commitments to investors[11]. Business Operations and Revenue Streams - The company achieved a historic breakthrough in eel output, with significant growth in the smart aquaculture business contributing to stable profit[31][32]. - The sales volume of grilled eel products saw a substantial year-on-year increase, marking a new phase of rapid growth in the food business[31]. - The smart aquaculture business generated revenue of approximately CNY 821.35 million, a significant increase of 321.39% year-on-year, accounting for 14.03% of total revenue[43]. - The health food business reported revenue of approximately CNY 366.93 million, a year-on-year growth of 109.31%[46]. - The company expanded its product offerings, achieving a 133.75% increase in grilled eel sales, totaling approximately 3,404.53 tons[46]. - The company’s feed business achieved sales revenue of approximately 4.54 billion yuan, accounting for 77.47% of total revenue, with special aquatic feed and poultry feed contributing 19.86% and 57.62% respectively[47]. - The sales revenue from the feed industry was CNY 5,182.99 million, a decrease of 25.41% year-on-year, while the gross margin increased by 0.98 percentage points[167]. Research and Development - The company is committed to enhancing its core competitiveness through continuous investment in research and development, focusing on key species like eel and California sea bass[52]. - The company has established strategic partnerships with universities and research institutions, enhancing its technology strategy and talent cultivation[55]. - The company has received several awards for its innovative products, including the "Fujian Province Patent Award" and "Fujian Province Technology Invention Award" for its research on new feed formulations[53]. - The company has developed nine series of animal health products, covering the needs of various aquatic species, enhancing customer loyalty and product value[125]. - The company’s research and development efforts have led to significant breakthroughs in feed technology, improving growth performance for aquaculture farmers[134]. Market and Industry Trends - The eel industry in China has an annual output value exceeding 30 billion yuan, with China being the largest producer globally, accounting for 80% of the world's eel production[72]. - The aquaculture industry is transitioning towards scale, intensification, industrialization, greening, and smart technology[68]. - The domestic demand for grilled eel in China is estimated to be around 20,000 to 30,000 tons annually, showing a trend of increasing consumption[93]. - The number of aquatic product processing enterprises in China reached 9,433 in 2023, with only 28.90% being large-scale enterprises[87]. - The company is focusing on building a world-class full industry chain food supply platform, enhancing its global sales channels[44]. Sustainability and Quality Control - The company is committed to ecological and green development strategies in its livestock and poultry farming operations[45]. - The company adheres to quality management principles, implementing ISO9001, ISO22000, HACCP, and ISO14001 standards to ensure high-quality production processes[59]. - The company is focusing on modernizing and standardizing its eel farming practices, aiming to establish a national-level modern agricultural high-tech industrial park for eels in China[133]. - The company’s live eel products are subjected to advanced DNA testing and strict quality control measures to ensure product safety and quality[133]. Sales and Marketing Strategies - The company has developed a nationwide marketing network with sales centers in cities like Fuzhou, Hangzhou, Shanghai, and Chongqing, covering the Fujian and Guangdong markets, the Yangtze River Delta, and the central and western regions[120]. - The sales strategy includes a three-tier management model for eel sales, combining direct sales and distribution to meet market demands[139]. - The company has expanded its domestic sales channels, leveraging e-commerce platforms and new retail strategies, with a focus on personalized consumer engagement[141].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 685,895,638.22, representing a 6.79% increase compared to CNY 642,300,553.98 in the same period last year[4] - Net profit attributable to shareholders was CNY 14,344,260.54, up 16.79% from CNY 12,282,528.03 year-on-year[4] - Basic earnings per share decreased by 25.00% to CNY 0.03 from CNY 0.04 in the previous year[5] - Total operating revenue for Q1 2025 reached ¥685,895,638.22, an increase of 6.5% compared to ¥642,300,553.98 in Q1 2024[18] - Net profit for Q1 2025 was ¥14,267,477.92, compared to ¥12,561,260.78 in Q1 2024, representing a growth of 13.6%[19] - The company reported a total comprehensive income of ¥12,614,910.04 for Q1 2025, compared to ¥10,627,895.82 in Q1 2024, reflecting an increase of 18.7%[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,228,342,333.94, a 3.02% increase from CNY 6,045,615,210.30 at the end of the previous year[5] - The total assets of the company as of March 31, 2025, amounted to RMB 6,228,342,333.94, an increase from RMB 6,045,615,210.30 on December 31, 2024[15] - Current assets totaled RMB 2,306,341,316.18, compared to RMB 2,230,650,974.85 at the end of 2024, reflecting a growth of approximately 3.4%[14] - The company's total liabilities reached RMB 3,579,225,401.94, up from RMB 3,411,168,190.27, marking an increase of around 4.9%[15] - The total liabilities increased to ¥3,579,225,401.94 from ¥3,411,168,190.27, marking a rise of 4.9%[16] Cash Flow - Cash flow from operating activities decreased by 19.33% to CNY 74,292,103.19 from CNY 92,090,350.43 in the same period last year[4] - The company reported a net cash flow from operating activities of ¥74,292,103.19 for Q1 2025, down from ¥92,090,350.43 in Q1 2024[23] - The company reported a decrease in cash and cash equivalents to RMB 411,420,643.16 from RMB 603,354,765.34, a decline of approximately 31.8%[13] - Cash used for debt repayment amounted to $337.95 million, an increase from $209.73 million in the previous period[24] - Total cash outflow from financing activities was $784.19 million, compared to $533.52 million last year, indicating a significant increase[24] - Net cash flow from financing activities was negative at -$113.99 million, a decline from a positive $14.63 million in the previous period[24] - The net increase in cash and cash equivalents was -$117.21 million, contrasting with a positive increase of $9.21 million last year[24] - The ending balance of cash and cash equivalents was $327.05 million, down from $462.37 million at the end of the previous period[24] Accounts Receivable and Inventory - The company experienced a 48.49% increase in accounts receivable, attributed to revenue growth during the period[7] - Accounts receivable increased significantly to RMB 453,457,783.68 from RMB 305,386,330.92, representing a growth of about 48.5%[14] - Inventory stood at RMB 1,087,742,948.79, slightly down from RMB 1,105,101,273.71, indicating a decrease of approximately 1.6%[14] Research and Development - Research and development expenses decreased by 40.40%, reflecting reduced investment in the research phase[8] - Research and development expenses decreased to ¥19,146,421.88 in Q1 2025 from ¥32,124,934.95 in Q1 2024, a reduction of 40.5%[19] Equity and Return on Equity - The weighted average return on equity decreased to 0.54%, down from 0.70% in the previous year[5] - The total equity of the company as of March 31, 2025, was RMB 2,649,116,932.00, up from RMB 2,634,446,019.73, indicating a slight increase of about 0.6%[15] - The total equity attributable to shareholders rose to ¥2,642,902,613.65 from ¥2,628,155,919.06, an increase of 0.6%[16] Borrowings - Short-term borrowings rose to RMB 1,500,400,259.31 from RMB 1,440,594,009.14, reflecting an increase of about 4.2%[15] - Long-term borrowings increased to RMB 628,266,919.15 from RMB 537,284,899.80, representing a growth of about 16.9%[15]

1 / 17 锦泓时装集团股份有限公司2025 年第一季度报告 锦泓时装集团股份有限公司2025 年第一季度报告 证券代码：603518 证券简称：锦泓集团 锦泓时装集团股份有限公司 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 | | | | 本报告期比上年同 | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 期增减变动幅度 | | | | | (%) | | 营业收入 | 1,111,474,290.97 | 1,152,852,132.70 | -3.59 | | 归属 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥266,021,270.02, representing a 5.85% increase compared to ¥251,316,414.20 in the same period last year[3] - Net profit attributable to shareholders was ¥28,227,958.48, a significant increase of 141.62% from ¥11,682,794.82 year-on-year[3] - Basic and diluted earnings per share were both ¥0.14, reflecting a 133.33% increase compared to ¥0.06 in the previous year[3] - Total operating revenue for Q1 2025 was CNY 266,021,270.02, an increase of 5.7% compared to CNY 251,316,414.20 in Q1 2024[16] - Net profit for Q1 2025 reached CNY 28,196,441.30, compared to CNY 11,661,535.11 in Q1 2024, representing a significant increase of 141.5%[17] - Earnings per share for Q1 2025 were CNY 0.14, compared to CNY 0.06 in Q1 2024, indicating a 133.3% increase[18] - The company reported a total comprehensive income of CNY 28,196,441.30 for Q1 2025, compared to CNY 11,661,535.11 in Q1 2024[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,286,508,180.44, a slight increase of 0.35% from ¥2,278,462,651.43 at the end of the previous year[4] - The company's current assets totaled CNY 1,599,342,494.26 as of March 31, 2025, compared to CNY 1,577,011,466.00 at the end of 2024, indicating an increase of about 1.41%[12] - The total liabilities as of the end of the reporting period were CNY 665,247,717.87, a decrease from CNY 673,558,259.08 in the previous year[15] - The total equity attributable to shareholders of the parent company was CNY 1,622,350,073.32, up from CNY 1,605,962,485.92 year-over-year[15] Cash Flow - The net cash flow from operating activities was negative at -¥138,859,507.79, an improvement from -¥181,888,164.15 in the previous year[3] - Cash inflow from operating activities in Q1 2025 was CNY 331,287,029.74, slightly down from CNY 337,356,655.31 in Q1 2024[19] - The net cash flow from operating activities was -138,859,507.79 in the current period, compared to -181,888,164.15 in the previous period, indicating an improvement[20] - Total cash outflow from operating activities amounted to 470,146,537.53, down from 519,244,819.46 year-over-year[20] - The net cash flow from investing activities was -83,936,384.28, compared to -21,189,184.86 in the previous period, reflecting increased investment outflows[20] - Cash inflow from financing activities was 100,000,000.00, slightly down from 110,000,000.00 in the previous period[20] - The net cash flow from financing activities increased to 86,175,896.29 from 80,633,019.80 year-over-year[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,357[8] - The top shareholder, Zhang Shihao, holds 34,223,657 shares, accounting for 16.84% of the total shares[8] Operational Efficiency - The company plans to continue focusing on the disposal of non-core assets and improving operational efficiency in the upcoming quarters[5] - The cash and cash equivalents decreased to CNY 212,514,926.54 from CNY 348,442,912.62, representing a decline of approximately 39.0%[11] - Inventory levels rose to CNY 418,231,750.67 as of March 31, 2025, up from CNY 375,894,666.47, marking an increase of about 11.25%[12] - Accounts receivable stood at CNY 764,591,008.42, slightly decreasing from CNY 779,352,745.58, which is a reduction of approximately 1.9%[11] - The company paid 75,411,920.93 in employee-related cash outflows, compared to 90,833,677.72 previously, showing a reduction[20] - Tax payments amounted to 15,216,331.57, down from 30,381,994.26 year-over-year, indicating a decrease in tax liabilities[20] - Cash outflows related to other operating activities were 29,000,678.13, down from 45,749,710.59, reflecting improved operational efficiency[20] Research and Development - Research and development expenses for Q1 2025 totaled CNY 18,025,577.68, an increase of 19.1% from CNY 15,108,549.21 in Q1 2024[16] Strategic Initiatives - The company has not reported any significant changes in its shareholder structure or any new strategic initiatives during the reporting period[11] - There are no new product launches or technological advancements mentioned in the recent financial disclosures[11] - The company has not indicated any plans for market expansion or mergers and acquisitions in the latest reports[11]

清源科技股份有限公司2025 年第一季度报告 债券代码：113694 债券简称：清源转债 证券代码：603628 证券简称：清源股份 公告编号：2025-025 清源科技股份有限公司 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 1 / 11 清源科技股份有限公司2025 年第一季度报告 (二)非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 | 非经常性损益项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动性资产处置损益，包括已计提资产减值准备 | -44,774.73 ...

Financial Performance - The company's operating revenue for 2024 was CNY 2,703,934,334.17, a decrease of 13.84% compared to 2023[20]. - The net profit attributable to shareholders for 2024 was CNY 438,216,195.63, down 7.30% from the previous year[20]. - The net profit after deducting non-recurring gains and losses increased significantly to CNY 402,967,474.16, compared to a loss of CNY 31,842,460.08 in 2023, marking a 1,365.50% increase[20]. - The net cash flow from operating activities improved to CNY 164,308,401.91, a 134.36% increase from the previous year[20]. - The total assets at the end of 2024 were CNY 12,712,631,463.50, reflecting a 1.98% increase from 2023[20]. - The basic earnings per share for 2024 was CNY 0.4662, a decrease of 7.35% compared to 2023[21]. - The weighted average return on equity decreased to 5.70%, down 0.76 percentage points from the previous year[21]. - The company achieved operating revenue of 2.704 billion yuan and a net profit attributable to shareholders of 438 million yuan for the reporting period[29]. - The company’s main business revenue for the reporting period was 2.677 billion RMB, a year-on-year decrease of 13.20%, while the main business cost was 1.186 billion RMB, a year-on-year decrease of 33.10%[112]. - The total cost for the current period is CNY 1,186,321,312.29, a decrease of 33.10% compared to CNY 1,773,283,468.40 in the same period last year[121]. Dividend Distribution - The company plans to distribute a cash dividend of 1.50 yuan per 10 shares, totaling approximately 141.13 million yuan, which accounts for 32.21% of the net profit attributable to ordinary shareholders[4]. - The total share capital as of December 31, 2024, is 941,140,609 shares, with 940,859,283 shares eligible for the dividend distribution after accounting for treasury shares[4]. - The company does not plan to issue bonus shares or convert reserves into share capital in this profit distribution[4]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period[6]. - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[5]. - There are no violations of decision-making procedures regarding external guarantees[5]. - The company has detailed various risks and countermeasures in the management discussion and analysis section of the report[6]. Audit and Compliance - The company has received a standard unqualified audit report from Zhongshun Yatai Accounting Firm[3]. - The board of directors and management have confirmed the accuracy and completeness of the annual report[3]. - The company has not disclosed any significant changes in its operational address or registration during the reporting period[16]. Research and Development - The company is focusing on R&D in traditional Chinese medicine, particularly in cardiovascular, digestive, respiratory, and immune treatment areas, with ongoing clinical evaluations and quality standard improvements[57]. - The company has completed preclinical research for its 1.1 class innovative traditional Chinese medicine (TCM) drug, receiving clinical trial approval from the regulatory authority[151]. - The company has five formulation projects that have obtained production approval and three projects that have completed registration applications during the reporting period[152]. - The company has initiated phase I clinical trials for its innovative drug HZB1006, a second-generation FGFR inhibitor, which has shown promising progress[152]. - The company is actively collaborating with renowned universities and research institutions to enhance its TCM research capabilities, focusing on areas such as cardiovascular, respiratory, and oncology diseases[151]. - The company has established a comprehensive R&D incubation park covering TCM, chemical drugs, and biological drugs to support pharmaceutical technology needs[150]. - The company has a total of 14 ongoing R&D projects, including both innovative and second-development drugs, with various stages of clinical trials[153]. Market Strategy - The company aims to expand its product market share through strategic participation in national centralized procurement, with 14 product specifications selected for 2025, providing more high-quality medication options[79]. - The marketing strategy emphasizes a comprehensive coverage of sales management systems across various medical institutions and retail markets, driving marketing performance[78]. - The company is focusing on the outpatient market as a new growth engine, adapting to policy changes and reshaping its business model to meet diverse market needs[183]. - The company aims to achieve its annual targets by customizing marketing plans for each business unit, focusing on "broad coverage, deep penetration, and precise output" for 2025 core performance indicators[195]. - The company is focusing on a multi-channel marketing strategy, targeting high-quality medical institutions and retail chains[161]. Product Development and Innovation - The company has completed acquisitions of 23 products, including Dan Ning Pian and An Gong Niu Huang Wan, enhancing its product pipeline and clinical competitiveness[56]. - The company is exploring international market opportunities by seeking collaborations on innovative and generic drug projects that align with its strategic development direction[150]. - The company plans to acquire complementary products in major disease treatment areas to inject new growth momentum into its future development[188]. - The company is committed to quality control and safety in drug production, adhering to strict quality standards and regulatory requirements throughout the drug lifecycle[84]. Industry Trends - The pharmaceutical industry saw a 3.4% year-on-year increase in value added for large-scale enterprises, with total revenue for the industry remaining flat at 2.976 trillion yuan[37]. - The traditional Chinese medicine industry is experiencing a profound transformation from scale expansion to quality-driven growth, with the industrial output value accounting for 24.1% of the pharmaceutical industry's revenue in 2023[36]. - The overall pharmaceutical market is expected to grow at a rate of 7%-8%, slightly above China's GDP growth forecast of approximately 5.2%[139]. - The aging population in China is projected to exceed 420 million by 2035, leading to an increased demand for chronic disease management, which presents significant opportunities for traditional Chinese medicine[182]. Awards and Recognition - The company has been recognized with multiple awards, including the "Five-Star Brand" and "Five-Star After-Sales Service" certifications, highlighting its brand and service excellence[49]. - The company has been recognized with multiple awards, including "Most Investment Value Listed Company" and "Corporate Social Responsibility Award" for its brand value[104]. - The company ranked among the top 30 traditional Chinese medicine listed companies in 2024, highlighting its competitive position in the industry[34].

Profit Distribution and Financial Performance - The company plans to distribute profits at a rate of 0.66 RMB per 10 shares, totaling 18,059,058.60 RMB, based on a share base of 27,362.21 million shares [9]. - The company's operating revenue for 2024 was CNY 1,919,098,611.24, a decrease of 0.90% compared to 2023 [27]. - The net profit attributable to shareholders for 2024 was CNY 90,164,359.07, down 46.67% from 2023 [27]. - The basic earnings per share for 2024 was CNY 0.33, a decline of 46.77% compared to 2023 [28]. - The company's revenue for the reporting period was CNY 1,919,098,611.24, a decrease of 0.90% compared to the previous year [94]. - The company's operating costs increased to CNY 1,511,094,094.06, reflecting a rise of 0.80% year-on-year [94]. - The company reported a significant increase in accounts payable by 148.34% to ¥536,391,016.10, which is 17.57% of total liabilities [112]. - The company reported a total revenue of 99,317,250 million, with a slight increase to 99,675,950 million, reflecting a growth of approximately 0.36% [170]. Audit and Financial Integrity - The company reported a standard unqualified audit opinion from Rongcheng Accounting Firm, ensuring the accuracy and completeness of the financial report [8]. - The company has no non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity [11]. - The company has established an independent financial department and accounting system, ensuring financial decisions are made autonomously without interference from the controlling shareholder [165]. Risk Management and Forward-Looking Statements - The company emphasizes the importance of risk awareness in its forward-looking statements regarding development strategies and operational plans [10]. - The company has detailed potential risks in the report, which can be found in the management discussion and analysis section [12]. - The company faces risks from policy changes, particularly regarding subsidy policies that could impact the profitability of photovoltaic projects [154]. - Fluctuations in raw material prices, which account for approximately 80% of the cost of photovoltaic support products, pose a risk to the company's profit margins [156]. Sales and Market Expansion - The company plans to accelerate its global strategy and expand its domestic and international sales networks in 2024 [37]. - The company's sales revenue in the Australian market reached 349.78 million yuan, maintaining the number one market share in the distributed photovoltaic bracket market [39]. - The company's sales revenue in the Philippines reached 100.70 million yuan, a year-on-year increase of 185.89%, with a backlog of orders of 480MW [39]. - The company has established overseas branches in Australia, Japan, the UK, Germany, the US, Hong Kong, and Southeast Asia to enhance local market presence and customer support [82]. Research and Development - The company's R&D expenses for the reporting period amounted to CNY 48.99 million, representing a year-on-year increase of 13.37% [49]. - The company aims to strengthen R&D efforts in the photovoltaic industry chain, focusing on energy storage product layout for 2024 [149]. - The company emphasizes continuous technological research and development, improving product performance in extreme environments, such as wind resistance and corrosion resistance [91]. Governance and Management - The company has a complete internal control system that spans all levels and aspects of management, continuously improving governance standards to achieve operational goals [163]. - The board of directors consists of 7 members, including 3 independent directors, exceeding the requirement of having independent directors account for more than 1/3 of the total [161]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring a fair salary system based on basic annual salary and year-end performance assessment [162]. - The company held its annual general meeting on May 31, 2024, and the resolutions were published on the Shanghai Stock Exchange website [166]. Employee and Compensation Policies - The company emphasizes a performance-based compensation policy, linking employee salaries to company profitability and performance [193]. - The total remuneration for Daniel Hong was 1.32 million yuan for the reporting period [169]. - The remuneration for directors and senior management is determined by the board and is based on the company's actual profitability and individual contributions [177]. - The company has established a comprehensive training management system to support employee career growth and strategic development [194]. Production and Operational Efficiency - The company plans to fully implement lean production in its Xiamen and Tianjin production bases, focusing on enhancing production capacity and efficiency through various optimization activities [48]. - The production capacity utilization rate for photovoltaic brackets is 98.31%, with a total output of 7.57 GW [128]. - The company plans to expand the production scale of photovoltaic brackets and upgrade production lines to enhance efficiency and reduce costs [148]. Market Trends and Government Policies - The cumulative installed capacity of photovoltaic power in China reached 885.68 GW by the end of 2024, with a year-on-year increase of 28.33% [55]. - The Chinese government aims to increase the proportion of non-fossil energy to approximately 39% of total electricity generation by the end of 2025 [62]. - The government plans to promote distributed renewable energy development through initiatives like the "Thousand Villages Wind Action" and "Thousand Households Light Action" to enhance rural energy access [64]. Product Development and Innovation - The company has developed over 200 types of photovoltaic brackets and accessories across 12 categories, focusing on customer needs and providing tailored solutions for different installation environments [77]. - The newly launched SolarRoof Pro2.0 has received TÜV Rheinland and ETN certification, providing efficient and flexible photovoltaic installation solutions for Europe [87]. - The company has successfully launched multiple portable and residential energy storage products, achieving several product certifications and applying for multiple patents [76]. Financial Management and Cash Flow - The financing activities generated a net cash flow of CNY 57,905,799.73, an increase of 62.74% compared to the previous year [94]. - Cash and cash equivalents increased by 70.19% to ¥350,271,421.86, representing 11.48% of total assets [112]. - The company has implemented a cash dividend policy, aiming for a minimum of 20% of distributable profits to be distributed as cash dividends if no major investments are planned [196].