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RoboSense Technology Co., Ltd Interim / Quarterly Report 2025
50628_rns_2025-04-29_58c03f76-b982-451f-9cb2-cae463806097.pdf
Interim / Quarterly Report
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
凯盛新能源股份有限公司
Triumph New Energy Company Limited
(Formerly known as “LUOYANG GLASS COMPANY LIMITED 洛陽玻璃股份有限公司”)
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock code: 01108)
FIRST QUARTERLY REPORT 2025
IMPORTANT NOTICE
The board (the "Board") of directors (the "Directors"), the supervisory committee, the Directors, supervisors and senior management members of Triumph New Energy Company Limited (the "Company") warrant that the information contained in this quarterly report is true, accurate, and complete without any false information, misleading statements or material omissions, and severally and jointly accept legal responsibility for the above.
Xie Jun, the person-in-charge of the Company, Chen Hongzhao, the person-in-charge of accounting, and Li Xuejiao, the person-in-charge of accounting institution (head of accounting department), warrant that the financial statements in this quarterly report are true, accurate and complete.
Whether the financial statements for the first quarter have been audited
☐ Yes ☑ No
I. MAJOR FINANCIAL DATA
(I) Key accounting data and financial indicators
| Unit: Yuan Currency: RMB | |||
|---|---|---|---|
| Item | The Reporting Period | The same period of the previous year | Increase/decrease during the Reporting Period as compared with the same period of the previous year (%) |
| Operating revenue | 891,764,438.56 | 1,437,775,429.95 | -37.98 |
| Net profit attributable to shareholders of the Company (net loss is represented by “-”) | -125,133,008.15 | -6,353,117.41 | N/A |
| Net profit attributable to shareholders of the Company after non-recurring profit or loss (net loss is represented by “-”) | -129,385,431.48 | -9,261,251.99 | N/A |
| Net cash flows from operating activities | -299,667,428.95 | -74,387,649.98 | N/A |
| Basic earnings per share (RMB/share) (loss is represented by "-") | -0.19 | -0.01 | N/A |
| Diluted earnings per share (RMB/share) (loss is represented by "-") | -0.19 | -0.01 | N/A |
| Weighted average return on net assets (%) (loss is represented by "-") | -3.16 | -0.14 | Down by 3.02 percentage points |
| At the end of the Reporting Period | At the end of the previous year | Increase/decrease at the end of the Reporting Period as compared with the end of the previous year (%) | |
| Total assets | 12,423,319,825.81 | 12,305,210,394.10 | 0.96 |
| Owner’s equity attributable to shareholders of the Company | 3,892,088,138.74 | 4,017,221,146.89 | -3.11 |
Note: The “Reporting Period” refers to the three months from 1 January 2025 to 31 March 2025, hereinafter the same.
(II) Non-recurring items and amounts
| Unit: Yuan | Currency: RMB | |
|---|---|---|
| Non-recurring Item | Amount for the Reporting Period | Explanation |
| Profit/loss on disposal of non-current assets, including the provision for assets impairment being written off | 169,154.15 | |
| Government subsidies attributable to profits and losses for the period, except for the grants which are closely related to the Company’s business, comply with national policy requirements, have the standard amount and have continuous impact on the Company’s profits and losses | 4,197,873.97 | |
| Custody fee income from entrusted operation | 283,018.86 | |
| Other non-operating income and expenses excluding the aforesaid items | 267,199.80 | |
| Less: Effect of income tax | 466,873.33 | |
| Effect of minority interests (after tax) | 197,950.12 | |
| Total | 4,252,423.33 |
- 3 -
(III) Changes in key accounting data and financial indicators and the reasons thereof
| Item | Amount for the current/end of the Reporting Period | Amount for the same period/end of the previous year | Change (%) | Main reason |
|---|---|---|---|---|
| Monetary funds | 361,207,402.36 | 140,369,169.47 | 157.33 | Increase in cash receipts at the end of the Reporting Period |
| Accounts receivable financing | 108,655,082.69 | 168,646,023.76 | -35.57 | Decrease in existing bank acceptances |
| Prepayments | 233,050,804.93 | 161,479,195.21 | 44.32 | Increase in advance payment for procurement of raw glass |
| Construction in progress | 2,406,307,806.90 | 3,389,274,950.00 | -29.00 | Projects transferred to fixed assets upon reaching intended usable state |
| Employee compensation payable | 19,477,328.64 | 51,703,216.46 | -62.33 | Payment of year-end bonuses accrued in the previous year |
| Other current liabilities | 379,017,786.25 | 299,204,298.33 | 26.68 | Increase in endorsed but not derecognized bills |
| Undistributed profit (loss is represented by “-”) | -585,771,295.71 | -460,638,287.56 | N/A | Operating losses |
| Operating revenue | 891,764,438.56 | 1,437,775,429.95 | -37.98 | Substantial decline in photovoltaic glass prices coupled with decreased sales volume as compared to the same period of the previous year |
| Taxes and surcharges | 10,148,270.33 | 7,591,962.67 | 33.67 | Increased scale of assets leading to higher property tax and land use tax as compared to the same period of the previous year |
| Selling expenses | 1,781,270.38 | 5,529,223.60 | -67.78 | Decrease in the remuneration of sales staff |
| R&D expenses | 26,540,643.42 | 54,511,352.09 | -51.31 | Reduced R&D project initiations with corresponding decrease in R&D investment as compared to the same period of the previous year |
| Other income | 5,170,127.51 | 15,571,498.75 | -66.80 | Reduction in value-added tax additional deduction benefits as compared to the same period of the previous year |
- 4 -
| Item | Amount for the current/end of the Reporting Period | Amount for the same period/end of the previous year | Change (%) | Main reason |
|---|---|---|---|---|
| Investment income (losses are represented by “-”) | -2,133,898.69 | -3,654,121.58 | N/A | Decreased interest on bill discounting as compared to the same period of the previous year |
| Impairment losses on credit (losses are represented by “-”) | 3,134,033.06 | 1,694,775.81 | 84.92 | Reduction in bad debt provisions for accounts receivable |
| Impairment losses on assets (losses are represented by “-”) | 59,658,385.58 | 0.00 | N/A | Reversal of inventory write-down provisions |
| Income tax expenses (benefit is represented by “-”) | -9,808,621.65 | 3,654,863.94 | -368.37 | Shift from operating profit to operating loss, resulting in increased tax-deductible losses as compared to the same period of the previous year |
| Net cash flows from operating activities | -299,667,428.95 | -74,387,649.98 | N/A | Higher operating cash outflow than inflow |
| Net cash flows from investment activities | -141,175,084.17 | -110,635,784.03 | N/A | Increase in cash outflows for fixed asset acquisitions as compared to the same period of the previous year |
| Net cash flows from financing activities | 664,389,663.30 | 218,465,452.70 | 204.12 | Expansion in financing scale as compared to the same period of the previous year |
– 5 –
- 6 -
II. INFORMATION ON SHAREHOLDERS
(I) Total number of holders of ordinary shares, number of holders of preference shares with voting rights restored and shareholdings of the top ten shareholders
Unit: shares
| Total number of holders of ordinary shares as at the end of the Reporting Period | 30,353 | Total number of holders of preference shares with voting rights restored as at the end of the Reporting Period (if any) | 0 |
|---|---|---|---|
Shareholdings of the top 10 shareholders as at the end of the Reporting Period (excluding shares lent through securities lending and refinancing)
| Name of shareholders | Nature of shareholder | Number of shares held | Shareholding percentage (%) | Number of shares held subject to trading moratorium | Pledged, tagged or frozen | |
|---|---|---|---|---|---|---|
| Status of shares | Number | |||||
| HKSCC Nominees Limited | Overseas legal person | 248,238,789 | 38.45 | 0 | Unknown | |
| China Luoyang Float Glass (Group) Co., Ltd. | State-owned legal person | 111,195,912 | 17.22 | 0 | Pledged | 55,597,956 |
| CNBM Glass New Material Research Institute Group Co., Ltd.* (中建材玻璃新材料研究院集團有限公司) | State-owned legal person | 63,835,499 | 9.89 | 0 | Nil | |
| Hongtu Private Equity Investment Fund Management (Shenzhen) Co., Ltd of Shenzhen Capital Group Co., Ltd.- New Materials Fund of Shenzhen Capital Group for Transformation and Upgrading for Manufacturing Sector (Limited Partnership)* (深創投紅土私募股權投資基金管理(深圳)有限公司-深創投製造業轉型升級新材料基金(有限合夥)) | Domestic non-state-owned legal person | 38,853,812 | 6.02 | 0 | Nil | |
| Triumph Science & Technology Co., Ltd. | State-owned legal person | 29,515,000 | 4.57 | 0 | Nil |
Shareholdings of the top 10 shareholders as at the end of the Reporting Period
(excluding shares lent through securities lending and refinancing)
| Name of shareholders | Nature of shareholder | Number of shares held | Shareholding percentage (%) | Number of shares held subject to trading moratorium | Pledged, tagged or frozen | |
|---|---|---|---|---|---|---|
| Status of shares | Number | |||||
| Luoyang Venture Investment Co., Ltd.-High Quality Development Fund for Manufacturing Sector in Luoyang (Limited Partnership)*(洛陽創業投資有限公司-洛陽製造業高質量發展基金(有限合夥)) | Domestic non-state-owned legal person | 4,856,726 | 0.75 | 0 | Nil | |
| Hong Kong Securities Clearing Company Limited | Overseas legal person | 2,274,020 | 0.35 | 0 | Nil | |
| Yixing Environmental Technology Innovation and Venture Capital Co., Ltd.* (宜興環保科技創新創業投資有限公司) | State-owned legal person | 1,542,674 | 0.24 | 0 | Nil | |
| Yang Wucheng (楊武成) | Domestic natural person | 1,454,472 | 0.23 | 0 | Pledged | 1,454,472 |
| Ding Yuhui (丁宇輝) | Domestic natural person | 1,414,866 | 0.22 | 0 | Nil |
Shareholdings of the top 10 holders of shares not subject to trading moratorium as at the end of the Reporting Period (excluding shares lent through securities lending and refinancing)
| Name of shareholders | Number of circulating shares held not subject to trading moratorium | Class and number of shares | |
|---|---|---|---|
| Class of shares | Number | ||
| HKSCC Nominees Limited | 248,238,789 | Overseas listed foreign shares | 248,238,789 |
| China Luoyang Float Glass (Group) Co., Ltd. | 111,195,912 | Ordinary RMB shares | 111,195,912 |
| CNBM Glass New Material Research Institute Group Co., Ltd.* (中建材或瑞新材料研究院集團有限公司) | 63,835,499 | Ordinary RMB shares | 63,835,499 |
| Hongtu Private Equity Investment Fund Management (Shenzhen) Co., Ltd of Shenzhen Capital Group Co., Ltd.-New Materials Fund of Shenzhen Capital Group for Transformation and Upgrading for Manufacturing Sector (Limited Partnership)* (深創投紅土私募股權投資基金管理(深圳)有限公司-深創投製造業轉型升級新材料基金(有限合夥)) | 38,853,812 | Ordinary RMB shares | 38,853,812 |
| Triumph Science & Technology Co., Ltd. | 29,515,000 | Ordinary RMB shares | 29,515,000 |
| Luoyang Venture Investment Co., Ltd. - High Quality Development Fund for Manufacturing Sector in Luoyang (Limited Partnership)* (洛陽創業投資有限公司-洛陽製造業高質量發展基金(有限合夥)) | 4,856,726 | Ordinary RMB shares | 4,856,726 |
| Hong Kong Securities Clearing Company Limited | 2,274,020 | Ordinary RMB shares | 2,274,020 |
| Yixing Environmental Technology Innovation and Venture Capital Co., Ltd.* (宜興環保科技創新創業投資有限公司) | 1,542,674 | Ordinary RMB shares | 1,542,674 |
| Yang Wucheng (楊武成) | 1,454,472 | Ordinary RMB shares | 1,454,472 |
| Ding Yuhui (丁字輝) | 1,414,866 | Ordinary RMB shares | 1,414,866 |
– 8 –
Explanation on related party relationship or parties acting in concert among the aforesaid shareholders
Among the top 10 shareholders of the Company, China Luoyang Float Glass (Group) Co., Ltd., CNBM New Material Research Institute Group Co., Ltd.* (中建材玻璃新材料研究院集團有限公司) and Triumph Science & Technology Co., Ltd. are related parties or parties acting in concert as defined under the Measures for the Administration of the Takeover of Listed Companies (《上市公司收購管理辦法》). The Company is not aware of any parties acting in concert or any related party relationship among other holders of circulating shares.
Description of involvement in securities margin financing, short selling and refinancing (if any) by top 10 shareholders and top 10 holders of shares not subject to trading moratorium
Nil
Notes: 1. Shares held by HKSCC Nominees Limited are held on behalf of various customers.
- The ordinary RMB shares held by Hong Kong Securities Clearing Company Limited are held on behalf of overseas investors who held ordinary RMB shares of the Company via Northbound Trading in the Shanghai-Hong Kong Stock Connect.
– 9 –
Shares lent by shareholders holding more than 5% of shares, top 10 Shareholders and 10 holders of shares not subject to trading moratorium through securities lending and refinancing business
☐ Applicable ☑ Not applicable
Change in the top 10 shareholders and 10 holders of shares not subject to trading moratorium compared with the same period of the previous year due to lending/returning through securities lending and refinancing business
☐ Applicable ☑ Not applicable
III. OTHER REMINDERS
Other important information about the Company’s operations during the Reporting Period that should be brought to the attention of investors
☐ Applicable ☑ Not applicable
IV. QUARTERLY FINANCIAL STATEMENTS
(I) Type of audit opinion
☐ Applicable ☑ Not applicable
- 11 -
(II) Financial statements
Consolidated Balance Sheet
31 March 2025
Prepared by: Triumph New Energy Company Limited
Unit: Yuan Currency: RMB Type of audit: unaudited
| Item | 31 March 2025 | 31 December 2024 |
|---|---|---|
| Current assets: | ||
| Monetary funds | 361,207,402.36 | 140,369,169.47 |
| Notes receivable | 651,414,228.05 | 651,423,089.16 |
| Accounts receivable | 1,154,538,206.31 | 1,027,209,026.78 |
| Accounts receivable financing | 108,655,082.69 | 168,646,023.76 |
| Prepayments | 233,050,804.93 | 161,479,195.21 |
| Other receivables | 97,555,000.69 | 102,179,903.98 |
| Inventories | 818,747,019.80 | 891,337,553.86 |
| Other current assets | 142,825,594.29 | 159,071,073.95 |
| Total current assets | 3,567,993,339.12 | 3,301,715,036.17 |
| Non-current assets: | ||
| Fixed assets | 5,439,139,368.82 | 4,646,259,534.90 |
| Construction in progress | 2,406,307,806.90 | 3,389,274,950.00 |
| Right-of-use assets | 5,557,965.93 | 6,377,028.57 |
| Intangible assets | 783,028,060.36 | 760,055,029.16 |
| Development expenditures | 11,898,454.10 | 10,469,477.25 |
| Goodwill | 17,583,473.33 | 17,583,473.33 |
| Deferred income tax assets | 147,516,749.93 | 133,895,615.73 |
| Other non-current assets | 44,294,607.32 | 39,580,248.99 |
| Total non-current assets | 8,855,326,486.69 | 9,003,495,357.93 |
| Total assets | 12,423,319,825.81 | 12,305,210,394.10 |
- 12 -
| Item | 31 March 2025 | 31 December 2024 |
|---|---|---|
| Current liabilities: | ||
| Short-term borrowings | 1,940,780,451.34 | 1,640,538,722.72 |
| Financial liabilities held for trading | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 282,329,929.77 | 367,446,043.33 |
| Accounts payable | 1,335,889,002.85 | 1,594,034,225.51 |
| Contract liabilities | 10,492,881.96 | 8,384,812.47 |
| Employee compensation payable | 19,477,328.64 | 51,703,216.46 |
| Taxes payable | 9,631,579.19 | 8,797,215.77 |
| Other payables | 194,190,587.55 | 197,674,301.52 |
| Non-current liabilities due within one year | 780,722,655.70 | 933,914,466.06 |
| Other current liabilities | 379,017,786.25 | 299,204,298.33 |
| Total current liabilities | 4,952,532,203.25 | 5,101,697,302.17 |
| Non-current liabilities: | ||
| Long-term borrowings | 3,136,405,782.72 | 2,728,799,119.77 |
| Lease liabilities | 3,493,197.09 | 3,673,630.33 |
| Long-term payable | 300,000.00 | 0.00 |
| Deferred income | 60,973,072.11 | 62,438,346.08 |
| Deferred income tax liabilities | 33,768,998.22 | 34,454,602.04 |
| Other non-current liabilities | 0.00 | 0.00 |
| Total non-current liabilities | 3,234,941,050.14 | 2,829,365,698.22 |
| Total liabilities | 8,187,473,253.39 | 7,931,063,000.39 |
– 13 –
| Item | 31 March 2025 | 31 December 2024 |
|---|---|---|
| Owners’ equity (or shareholders’ equity): | ||
| Paid-in capital (or share capital) | 645,674,963.00 | 645,674,963.00 |
| Capital reserve | 3,780,818,962.41 | 3,780,818,962.41 |
| Surplus reserve | 51,365,509.04 | 51,365,509.04 |
| General risk reserve | 0.00 | 0.00 |
| Undistributed profit (loss is represented by “-”) | -585,771,295.71 | -460,638,287.56 |
| Total equity attributable to owners (or shareholders) of the Company | 3,892,088,138.74 | 4,017,221,146.89 |
| Minority interests | 343,758,433.68 | 356,926,246.82 |
| Total owners’ equity (or shareholders’ equity) | 4,235,846,572.42 | 4,374,147,393.71 |
| Total liabilities and owners’ equity (or shareholders’ equity) | 12,423,319,825.81 | 12,305,210,394.10 |
Consolidated Income Statement
January–March 2025
Prepared by: Triumph New Energy Company Limited
Unit: Yuan Currency: RMB Type of audit: unaudited
| Item | First quarter of 2025 | First quarter of 2024 | |
|---|---|---|---|
| I. | Total operating revenue | 891,764,438.56 | 1,437,775,429.95 |
| Including: Operating revenue | 891,764,438.56 | 1,437,775,429.95 | |
| II. | Total operating costs | 1,106,138,882.91 | 1,446,555,554.78 |
| Including: Operating costs | 1,011,632,220.15 | 1,320,511,303.17 | |
| Taxes and surcharges | 10,148,270.33 | 7,591,962.67 | |
| Selling expenses | 1,781,270.38 | 5,529,223.60 | |
| Administrative expenses | 31,209,893.11 | 37,711,052.51 | |
| R&D expenses | 26,540,643.42 | 54,511,352.09 | |
| Finance expenses | 24,826,585.52 | 20,700,660.74 | |
| Including: Interest expenses | 25,293,072.93 | 21,865,563.39 | |
| Interest income | 963,350.66 | 1,158,778.46 | |
| Add: Other income | 5,170,127.51 | 15,571,498.75 | |
| Investment income | |||
| (losses are represented by “-”) | -2,133,898.69 | -3,654,121.58 | |
| Impairment losses on credit | |||
| (losses are represented by “-”) | 3,134,033.06 | 1,694,775.81 | |
| Impairment losses on assets | |||
| (losses are represented by “-”) | 59,658,385.58 | 0.00 | |
| Gains on disposal of assets | |||
| (losses are represented by “-”) | 1,150.44 | 31,453.15 | |
| III. | Operating profit (loss is represented by “-”) | -148,544,646.45 | 4,863,481.30 |
| Add: Non-operating income | 435,203.51 | 886.58 | |
| Less: Non-operating expense | 0.00 | 68.37 | |
| IV. | Total profit (total loss is represented by “-”) | -148,109,442.94 | 4,864,299.51 |
| Less: Income tax expenses (benefit is represented by “-”) | -9,808,621.65 | 3,654,863.94 |
- 14 -
- 15 -
| Item | First quarter of 2025 | First quarter of 2024 |
|---|---|---|
| V. Net profit (net loss is represented by “-”) | -138,300,821.29 | 1,209,435.57 |
| (I) Classified on a going concern basis | ||
| 1. Net profit from continuing operation (net loss is represented by “-”) | -138,300,821.29 | 1,209,435.57 |
| 2. Net profit from discontinued operation (net loss is represented by “-”) | 0.00 | 0.00 |
| (II) Classified by ownership | ||
| 1. Net profit attributable to shareholders of the Company (net loss is represented by “-”) | -125,133,008.15 | -6,353,117.41 |
| 2. Profit or loss attributable to minority interests (net loss is represented by “-”) | -13,167,813.14 | 7,562,552.98 |
| VI. Other comprehensive income, net of tax | ||
| (I) Other comprehensive income net of tax attributable to owners of the Company | 0.00 | 0.00 |
| (II) Other comprehensive income net of tax attributable to minority shareholders | 0.00 | 0.00 |
| VII. Total comprehensive income (loss is represented by “-”) | -138,300,821.29 | 1,209,435.57 |
| (I) Total comprehensive income attributable to owners of the Company (loss is represented by “-”) | -125,133,008.15 | -6,353,117.41 |
| (II) Total comprehensive income attributable to minority shareholders (loss is represented by “-”) | -13,167,813.14 | 7,562,552.98 |
| VIII. Earnings per share: | ||
| (I) Basic earnings per share (RMB/share) (loss is represented by “-”) | -0.19 | -0.01 |
| (II) Diluted earnings per share (RMB/share) (loss is represented by “-”) | -0.19 | -0.01 |
Consolidated Cash Flow Statement
January–March 2025
Prepared by: Triumph New Energy Company Limited
Unit: Yuan Currency: RMB Type of audit: unaudited
| Item | First quarter of 2025 | First quarter of 2024 |
|---|---|---|
| I. Cash flow from operating activities: | ||
| Cash received from sales of goods or rendering of services | 565,373,007.64 | 1,186,283,677.00 |
| Tax refunds received | 288,798.51 | 583,384.64 |
| Cash received from activities related to operation | 15,826,178.30 | 73,053,675.33 |
| Sub-total of cash inflow from operating activities | 581,487,984.45 | 1,259,920,736.97 |
| Cash paid for purchase of goods and rendering of services | 743,507,443.83 | 1,153,677,364.27 |
| Cash paid to and on behalf of employees | 103,115,818.94 | 137,993,535.24 |
| Tax payments | 14,259,748.35 | 24,341,808.49 |
| Other cash paid for activities related to operation | 20,272,402.28 | 18,295,678.95 |
| Sub-total of cash outflow from operating activities | 881,155,413.40 | 1,334,308,386.95 |
| Net cash flows from operating activities | -299,667,428.95 | -74,387,649.98 |
- 16 -
- 17 -
| Item | First quarter of 2025 | First quarter of 2024 |
|---|---|---|
| II. Cash flow from investment activities: | ||
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 263,300.00 | 3,982,508.50 |
| Sub-total of cash inflow from investment activities | 263,300.00 | 3,982,508.50 |
| Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets | 141,438,384.17 | 114,618,292.53 |
| Sub-total of cash outflow from investment activities | 141,438,384.17 | 114,618,292.53 |
| Net cash flows from investment activities | -141,175,084.17 | -110,635,784.03 |
| III. Cash flow from financing activities: | ||
| Proceeds from loans | 1,263,175,000.00 | 560,000,000.00 |
| Other cash received from activities related to financing | 61,960,862.06 | 0.00 |
| Sub-total of cash inflow from financing activities | 1,325,135,862.06 | 560,000,000.00 |
| Cash paid for repayment of loans | 633,010,000.00 | 214,000,000.00 |
| Cash payment for distribution of dividends and profits or repayment of interest | 27,736,198.76 | 27,534,547.30 |
| Including: Dividends and profits paid to minority shareholders by subsidiaries | ||
| Other cash paid for activities related to financing | 0.00 | 100,000,000.00 |
| Sub-total of cash outflow from financing activities | 660,746,198.76 | 341,534,547.30 |
| Net cash flows from financing activities | 664,389,663.30 | 218,465,452.70 |
- 18 -
| Item | First quarter of 2025 | First quarter of 2024 |
|---|---|---|
| IV. Effects of changes in exchange rate on cash and cash equivalents | 111,991.77 | 729,400.08 |
| V. Net increase in cash and cash equivalents | 223,659,141.95 | 34,171,418.77 |
| Add: Opening balance of cash and cash equivalents | 130,565,767.60 | 229,156,744.65 |
| VI. Closing balance of cash and cash equivalents | 354,224,909.55 | 263,328,163.42 |
(III) Adjustments to financial statements at the beginning of the year upon initial adoption of new accounting standards or interpretation of standards since 2025
☐ Applicable ☑ Not applicable
By Order of the Board
Triumph New Energy Company Limited
Xie Jun
Chairman
Luoyang, the PRC
29 April 2025
As at the date of this announcement, the Board comprises four executive Directors: Mr. Xie Jun, Mr. Zhang Rong, Mr. He Qingbo and Mr. Chen Peng; one non-executive Director: Ms. Wu Dan; and three independent non-executive Directors: Mr. Chen Qisuo, Mr. Fan Baoqun and Ms. Yuan Jian.
- For identification purposes only