Core Viewpoint - Yihau New Materials (301176.SZ) reported a revenue increase of 12.55% for 2024, but continued to face net losses, indicating ongoing financial challenges despite revenue growth [1][2]. Financial Performance Summary - For 2024, the company achieved a revenue of 1.437 billion yuan, up from 1.277 billion yuan in 2023, marking a growth of 12.55% [2]. - The net profit attributable to shareholders was -38.86 million yuan, a decline of 17.92% compared to -32.96 million yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses was -40.51 million yuan, worsening by 12.71% from -35.94 million yuan in 2023 [2]. - The net cash flow from operating activities was -183.27 million yuan, a significant decline of 497.86% from -30.66 million yuan in the previous year [2]. Q1 2025 Performance - In the first quarter of 2025, the company reported a revenue of 360.16 million yuan, reflecting a year-on-year increase of 17.10% from 307.55 million yuan [3]. - The net profit attributable to shareholders for Q1 2025 was -1.54 million yuan, an improvement of 15.49% compared to -1.82 million yuan in the same period last year [3]. - The net profit after deducting non-recurring gains and losses was -2.01 million yuan, showing an 11.54% improvement from -2.28 million yuan in Q1 2024 [3]. - The net cash flow from operating activities for Q1 2025 was -57.19 million yuan, a decline of 24.20% from -46.05 million yuan in the previous year [3]. Company Background - Yihau New Materials was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on September 28, 2022, with an initial public offering of 42.27 million shares at a price of 23.88 yuan per share [4]. - The total amount raised from the IPO was 1.009 billion yuan, with a net amount of 903.45 million yuan after deducting issuance costs [4]. - The actual fundraising exceeded the planned amount by 157.30 million yuan, which was intended for projects including the production of high-precision electrolytic copper foil and a research and development center [4].