现金流状况经营活动现金流：经营活动现金流入小计为763,096,892.50元，同比增长47.38%；现金流出 小计为828,195,628.68元，同比增长56.03%。经营活动产生的现金流量净额为-65,098,736.18元，上年同 期为-13,004,901.36元，净流出进一步扩大，主要原因可能是购买商品、接受劳务支付的现金大幅增 加，以及存货的增加等，反映出公司经营活动现金回笼情况不佳，运营资金压力较大。投资活动现金 流：投资活动现金流入小计为393,637,393.11元，同比下降51.22%；现金流出小计为504,439,776.55元， 同比下降39.90%。投资活动产生的现金流量净额为-110,802,383.44元，上年同期为-32,513,240.28元，净 流出扩大，主要是购建固定资产、无形资产和其他长期资产支付的现金以及投资支付的现金等所致，显 示公司在资产投资方面的支出较大。筹资活动现金流：筹资活动现金流入小计为200,341,333.80元，现 金流出小计为89,937,955.01元，上年同期为16,350,149.33元，筹资活动产生的现金流量净额为 110,403,378 ...

Revenue and Profit - The company's operating revenue decreased by 2.71% to approximately 2.6 billion yuan in 2024, compared to 2.67 billion yuan in the previous year, indicating insufficient growth momentum [2] - Net profit attributable to shareholders fell by 30.48% to approximately 84.75 million yuan from 121.90 million yuan in 2023, primarily due to declining sales prices of key products [3] - The net profit after excluding non-recurring items decreased by 37.69% to approximately 45.75 million yuan, reflecting significant challenges in the core business [4] Earnings Per Share - Basic earnings per share dropped by 30.85% to 0.0381 yuan, while the diluted earnings per share decreased by 38.25% to 0.0205 yuan, indicating a decline in operational efficiency and profitability [5] Expense Analysis - Total expenses for the company were approximately 254.84 million yuan, a decrease from 267.90 million yuan the previous year, although financial expenses surged significantly [6] - Sales expenses decreased by 12.67% to approximately 61.97 million yuan, suggesting improvements in sales strategy [7] - Management expenses fell by 6.65% to approximately 192.46 million yuan, reflecting effective cost control measures [8] - Financial expenses skyrocketed by 146.31% to approximately 11.46 million yuan, primarily due to increased interest expenses and reduced interest income [9] - R&D expenses decreased by 10.44% to approximately 50.35 million yuan, which may impact future innovation capabilities [11] Cash Flow - Net cash flow from operating activities decreased by 36.43% to approximately 416.73 million yuan, mainly due to increased payments for raw material purchases [12] - Net cash flow from investing activities improved, with a reduction in outflows by 42.80% to approximately -618.82 million yuan, indicating a shift in investment strategy [13] - Net cash flow from financing activities decreased significantly by 120.77% to approximately -45.78 million yuan, primarily due to reduced bank borrowings [14] Management Compensation - The chairman received a pre-tax compensation of 644,600 yuan and stock options, while the general manager received 602,300 yuan and similar stock options, indicating a link between management incentives and company performance [19][20]