Zhong Guo Jing Ji Wang·2025-04-30 06:31Financial Performance - In Q1 2025, the company reported revenue of 0.80 billion yuan, a decrease of 72.59% year-on-year [1][2] - The net profit attributable to shareholders was -0.56 billion yuan, compared to -1.04 billion yuan in the same period last year [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -0.60 billion yuan, unchanged from the previous year [1][2] - The net cash flow from operating activities was -1.18 billion yuan, slightly worse than -1.12 billion yuan in the same period last year [1][4] Annual Report Insights - For the year 2024, the company achieved revenue of 9.49 billion yuan, a slight decline of 0.60% year-on-year [4][5] - The net profit attributable to shareholders for 2024 was -7.27 billion yuan, compared to -2.48 billion yuan in 2023 [4][5] - The net cash flow from operating activities for 2024 was -5.06 billion yuan, a significant drop from 1.48 billion yuan in 2023 [4][6] Audit and Compliance Issues - The company received a negative audit opinion from Tianjian Accounting Firm regarding its 2024 financial report, leading to a risk warning for its stock [7][8] - The company acknowledged management issues, resulting in overpayments to suppliers totaling 180 million yuan, with the chairman committing to recover these funds [7] - The stock will be suspended from trading starting April 30, 2025, and will resume trading with a risk warning on May 6, 2025 [8] Stock Market Performance - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on September 19, 2022, with an initial public offering price of 51.88 yuan per share [8] - The stock reached a peak price of 45.92 yuan on its first trading day but has since been in a downward trend, currently trading below its IPO price [8] - The total funds raised from the IPO amounted to approximately 1.74 billion yuan, exceeding the planned amount by 85.75 million yuan [8][9]