寒武纪(688256) - 2025 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2025 reached ¥1,111,398,926.80, a significant increase of 4,230.22% compared to ¥25,666,105.86 in the same period last year[4] - Net profit attributable to shareholders was ¥355,465,241.04, a turnaround from a loss of ¥226,677,268.38 in the previous year[4] - Basic and diluted earnings per share were both ¥0.85, compared to a loss of ¥0.54 per share in the same period last year[5] - Operating profit for Q1 2025 was CNY 355,353,736.21, compared to an operating loss of CNY 228,454,218.37 in Q1 2024, indicating a turnaround in profitability[19] - Net profit for Q1 2025 was CNY 355,228,063.36, contrasting with a net loss of CNY 229,051,890.24 in Q1 2024, marking a substantial improvement[19] - Earnings per share for Q1 2025 were CNY 0.85, compared to a loss per share of CNY 0.54 in Q1 2024[19] Research and Development - Research and development expenses totaled ¥234,623,822.46, representing a 38.33% increase from ¥169,608,577.12 year-over-year[5] - R&D expenses accounted for 21.11% of revenue, a decrease of 639.72 percentage points from the previous year's 660.83%[5] - Research and development expenses for Q1 2025 were CNY 272,571,507.48, up from CNY 169,608,577.12 in Q1 2024, reflecting a focus on innovation[18] - The company faces risks related to the uncertainty of R&D project outcomes, which may lead to difficulties in recovering initial investments and achieving expected benefits[11] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥6,944,976,188.52, up 3.38% from ¥6,717,812,509.70 at the end of the previous year[5] - Total liabilities decreased from CNY 1,287,332,938.05 as of December 31, 2024, to CNY 1,109,011,708.37 as of March 31, 2025[17] - Total equity attributable to shareholders increased from CNY 5,422,658,659.68 as of December 31, 2024, to CNY 5,828,380,745.86 as of March 31, 2025[17] Cash Flow - The net cash flow from operating activities was negative at -¥1,399,358,712.85, compared to -¥234,111,846.83 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was negative at CNY -1,399,358,712.85, worsening from CNY -234,111,846.83 in Q1 2024[20] - The net increase in cash and cash equivalents for Q1 2025 was -$1,334,069,046.80, compared to an increase of$394,084,848.51 in Q1 2024[21] - The ending balance of cash and cash equivalents as of Q1 2025 was $637,904,783.89, significantly lower than$4,347,795,257.05 in Q1 2024, a decrease of 85.3%[21] Market Position and Strategy - The company attributed the significant revenue growth to the expansion of artificial intelligence applications in the market[7] - The company operates under a Fabless model, relying on a specialized supply chain, which poses risks due to potential disruptions from being listed on the "entity list" affecting supply chain stability[11] - The company is one of the few in the industry that comprehensively masters the core technologies for smart chips and their foundational system software, enhancing its competitive edge[11] - The company has a significant focus on artificial intelligence chip development, which is attracting attention from major players in the integrated circuit industry[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,127[9] - Shareholders' equity attributable to shareholders increased by 7.48% to ¥5,828,380,745.86 from ¥5,422,658,659.68[5] - The company announced a share repurchase plan on July 27, 2024, with updates expected by March 31, 2025[12]