佰维存储(688525) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 154,333.40 million, a decrease of 10.62% compared to CNY 172,664.23 million in the same period last year[4]. - The net profit attributable to shareholders was CNY -19,749.75 million, representing a decline of 217.87% from CNY 16,756.23 million year-on-year[4]. - Total revenue for Q1 2025 was CNY 1,543,333,997.02, a decrease of 10.6% compared to CNY 1,726,642,291.89 in Q1 2024[23]. - Net loss for Q1 2025 was CNY 205,520,597.44, compared to a net profit of CNY 157,072,617.09 in Q1 2024[24]. - Basic and diluted earnings per share for Q1 2025 were both CNY -0.46, compared to CNY 0.39 in Q1 2024[25]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -14,342.28 million, a significant decrease of 128.34% compared to CNY 50,616.25 million in the previous year[4]. - In Q1 2025, the net cash flow from operating activities was -143,422,806.51, a significant decline compared to 506,162,485.73 in Q1 2024[28]. - Cash generated from operating activities was CNY 1,991,648,484.74 in Q1 2025, up from CNY 1,737,189,993.51 in Q1 2024[27]. - The cash and cash equivalents at the end of Q1 2025 reached 1,283,560,842.51, compared to 457,748,285.16 at the end of Q1 2024, reflecting a net increase of 872,419,014.91[29]. - Cash outflow from investing activities in Q1 2025 was 265,073,949.35, significantly higher than 96,964,443.23 in Q1 2024, indicating increased investment efforts[28]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 937,973.20 million, an increase of 17.82% from CNY 796,095.61 million at the end of the previous year[5]. - Total assets increased to CNY 9,379,732,045.30 as of the end of the reporting period, compared to CNY 7,960,956,058.14 in the previous year[21]. - Total liabilities rose to CNY 7,073,789,746.51, up from CNY 5,530,187,818.32 year-over-year[21]. - The equity attributable to shareholders decreased to CNY 2,292,747,079.93 from CNY 2,411,868,990.29 year-over-year[21]. Research and Development - Research and development expenses increased by 25.82% to CNY 12,293.77 million, accounting for 7.97% of operating revenue, up from 5.66%[4][5]. - Research and development expenses rose to CNY 122,937,725.03 in Q1 2025, an increase of 25.8% from CNY 97,707,500.94 in Q1 2024[24]. Market Outlook - The company anticipates a recovery in storage prices starting from Q2 2025, which is expected to improve operating performance[6]. - Revenue from AI glasses is projected to exceed CNY 1.06 billion in 2024, with an expected year-on-year growth of over 500% in 2025[6]. Operational Challenges - The gross profit margin declined by 22.75 percentage points year-on-year due to significant decreases in product sales prices[6]. - The cash flow from operating activities showed a negative trend, with outflows exceeding inflows, highlighting potential operational challenges[28]. Shareholder and Financing Activities - The company has not reported any significant changes in its shareholder structure or financing activities during the reporting period[15]. - Total cash inflow from financing activities in Q1 2025 was 2,275,555,067.09, up from 959,071,474.71 in Q1 2024, indicating strong financing support[29]. - The company paid 33,964,589.99 in cash for dividends and interest in Q1 2025, compared to 22,443,474.07 in Q1 2024, indicating an increase in shareholder returns[29].