Core Viewpoint - Lianhua Holdings reported significant growth in revenue and net profit for the fiscal year 2024, driven by increased sales and the establishment of a dual-driven development model focusing on both traditional products and computing services [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 2.646 billion yuan, a year-on-year increase of 25.98% [1] - The net profit attributable to shareholders reached 203 million yuan, up 55.92% year-on-year [1] - For Q1 2025, the company reported operating revenue of 794 million yuan, a 37.77% increase compared to the same period last year [1] - The net profit for Q1 2025 was 101 million yuan, reflecting a 105.19% year-on-year growth due to improved cost control and higher product gross margins [1] Product Sales - During 2024, the company sold 198,100 tons of monosodium glutamate, 30,800 tons of chicken essence, and 32,000 tons of flour [1] Computing Services - Lianhua Holdings' computing service business generated revenue of 80.6434 million yuan in 2024, marking a staggering year-on-year increase of 10,447.11% [1] - The company signed a high-performance computing service contract with Shanghai X State-owned Enterprise, valued at 555.3601 million yuan, to provide 1,545 PFLOPS of computing power over five years [2] - A supplementary agreement was signed on April 29, 2025, to terminate the original contract and included a compensation payment of 2 million yuan to Shanghai X State-owned Enterprise [2] Contractual Developments - On February 17, 2025, the board authorized the chairman to sign significant contracts related to high-performance computing services within budget limits [3] - A lease agreement was signed on February 28, 2025, for 200 high-performance servers, but the contract was later terminated due to delivery schedule issues [3]