SMIC(688981)2025-05-08 10:50Financial Performance - In Q1 2025, the company achieved a revenue of $2.247 billion, representing a quarter-over-quarter increase of 1.8%[5] - Year-over-year revenue growth was 29.4%, with total revenue reaching ¥16.301 billion in Q1 2025[9] - Net profit attributable to shareholders increased by 166.5% year-over-year, amounting to ¥1.356 billion[9] - Operating profit for Q1 2025 was RMB 2,479,469 thousand, compared to RMB 528,107 thousand in Q1 2024, reflecting a significant improvement[29] - Net profit for Q1 2025 was RMB 2,320,915 thousand, up from RMB 450,160 thousand in Q1 2024, indicating a strong growth trajectory[29] - The total comprehensive income for Q1 2025 reached CNY 2,010,509 thousand, compared to CNY 138,368 thousand in Q1 2024, showing a substantial increase[30] - The basic and diluted earnings per share for Q1 2025 were both CNY 0.17, compared to CNY 0.06 in Q1 2024, reflecting a 183% increase[30] Cost and Expenses - R&D expenses totaled ¥1.068 billion, a decrease of 20% compared to the same period last year, representing 6.6% of revenue[9] - Research and development expenses for Q1 2025 were RMB 1,068,417 thousand, slightly lower than RMB 1,335,715 thousand in Q1 2024, reflecting a strategic focus on cost management[29] Cash Flow - Cash flow from operating activities for Q1 2025 was a net outflow of CNY 1,171,520 thousand, a decline from a net inflow of CNY 3,566,576 thousand in Q1 2024[32] - Cash flow from investing activities resulted in a net outflow of CNY 9,093,038 thousand in Q1 2025, slightly improved from a net outflow of CNY 9,270,319 thousand in Q1 2024[33] - Cash flow from financing activities showed a net outflow of CNY 2,947,079 thousand in Q1 2025, compared to a net outflow of CNY 1,597,828 thousand in Q1 2024[33] - The cash and cash equivalents at the end of Q1 2025 were CNY 32,915,149 thousand, down from CNY 37,945,617 thousand at the end of Q1 2024[33] - The company reported a decrease in cash inflow from operating activities, totaling CNY 13,605,786 thousand in Q1 2025, compared to CNY 15,894,513 thousand in Q1 2024[32] Assets and Liabilities - Total assets as of March 31, 2025, were RMB 344,161,271 thousand, a decrease from RMB 353,415,296 thousand as of December 31, 2024[26] - Current assets decreased to RMB 92,038,366 thousand from RMB 106,278,648 thousand, primarily due to a reduction in cash and cash equivalents[25] - Total liabilities decreased to RMB 112,929,820 thousand from RMB 124,307,508 thousand, showing a reduction in financial obligations[27] - The company reported a significant increase in accounts receivable, which rose to RMB 5,283,582 thousand from RMB 2,922,670 thousand, indicating improved sales performance[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 257,979, with 247,241 from A-shares and 10,738 from Hong Kong stocks[20] - The company has issued a total of 7,981,802,488 shares, with 5,993,443,359 shares listed on the Hong Kong Stock Exchange, accounting for approximately 75.1% of the total share capital[21] - HKSCC NOMINEES LIMITED holds 4,314,367,857 shares, representing 54.05% of the total shares[20] - The company has a significant foreign shareholder presence, with major holdings from entities such as 大唐控股（香港）投资有限公司 and 鑫芯（香港）投资有限公司[20] Future Outlook - The company expects Q2 2025 revenue to decline by 4% to 6%, with a gross margin guidance of 18% to 20%[6] - The company’s financial performance reflects a strong recovery compared to the previous year, indicating positive market trends and operational efficiency[17] Miscellaneous - The company recognized non-recurring gains and losses totaling CNY 186,376,000, which includes government subsidies of CNY 261,547,000[14] - The company reported a loss of CNY 9,688,000 from the fair value changes of financial assets held by joint ventures and associates[15] - The company has recognized a government subsidy that has a continuous impact on its profits, which is in line with national policy regulations[14] - The company has not executed any mergers or acquisitions during the reporting period, with no net profit reported from merged entities[30]