On March 12, Yuancheng Co., Ltd. disclosed its 2024 annual report, revealing that the company achieved a total operating revenue of 4.447 billion yuan, marking a year-on-year increase of 38.92%. The net profit attributable to the parent company reached 70.2134 million yuan.
However, the report indicated that an increase in accounts receivable had led to some revenue not being converted into cash flow in a timely manner.
In other news, Dong Mingzhu, the chairperson of Gree Electric, stated that the company developed its entire technology from scratch, starting with a blank slate. Additionally, Gree’s Marketing Director, Zhu Lei, mentioned that the online store is considering a unified upgrade to “Dong Mingzhu Health Home.” Dong Mingzhu also announced plans to open 10,000 health homes across the country.
Haikou Group announced that its wholly-owned subsidiary, Haikou Equipment, is suing Guangye Oil and Gas for failing to deliver 12,000 tons of diesel after a contract was signed from August to October 2024. The company had pre-paid 83 million yuan for this purchase, but after six months, the goods have yet to be received.
In another development, Jin Cheng Pharmaceutical’s actual controller may face a four-year market ban due to a notice received from the China Securities Regulatory Commission concerning an administrative penalty. The company responded by stating that it plans to submit a report to contest the findings.
The Ministry of Industry and Information Technology has announced plans to accelerate the research and development of 6G technology. Meanwhile, Northvolt, a major European battery manufacturer, has filed for bankruptcy, and another company, Tian Sheng Technology, has had its capital increase application approved by the Shenzhen Stock Exchange.
On March 11, Dream Lily initiated legal proceedings against its American client CVB for over 40 million USD in unpaid debts, citing poor management and lack of a reasonable repayment plan.
Moreover, AI integrated machines are gaining traction, as governments across various regions are revealing progress in deploying DeepSeeK for public administration. This initiative has shown success not only in government sectors but also in finance and healthcare.
In the electric vehicle sector, the transition to large-scale retirement of power batteries is set to begin, with Guoxuan High-Tech and Jin Jing New Energy forming a strategic partnership to enhance battery recycling and after-sales service systems.
Finally, Hesai Technology reported that its total delivery of lidar units surpassed 500,000, reflecting a year-on-year growth of 126%.
