Financial Performance - In 2024, the company reported operating revenue of 80.80 million yuan, a year-on-year decrease of 39.96% [1] - The net profit attributable to shareholders was -93.50 million yuan, compared to -70.99 million yuan in the previous year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -106 million yuan, down from -72.57 million yuan year-on-year [1] - The net cash flow from operating activities was -131 million yuan, compared to 80.90 million yuan in the previous year [1] - For Q1 2025, the company achieved operating revenue of 3.46 million yuan, a decrease of 30.97% year-on-year [1] - The net profit attributable to shareholders for Q1 2025 was -17.58 million yuan, compared to -21.49 million yuan in the same period last year [1] - The net cash flow from operating activities for Q1 2025 was -42.06 million yuan, compared to -45.35 million yuan in the previous year [1] Dividend Policy - The company plans not to distribute profits for the 2024 fiscal year, with no cash dividends, capital reserve transfers, or stock bonuses [1] IPO and Fundraising - The company was listed on the Sci-Tech Innovation Board on August 2, 2021, with an initial public offering of 22 million shares at a price of 55.18 yuan per share [2] - The total amount raised from the IPO was 1.214 billion yuan, with a net amount of 1.136 billion yuan, which was 464 million yuan less than the originally planned net amount [2] - The company initially aimed to raise 1.6 billion yuan for various projects, including the construction of a new vaccine production facility and research and development [2] - The total issuance costs for the IPO were 78.28 million yuan, with the underwriter, CITIC Securities, receiving 64.34 million yuan in fees [2]