Espressif Systems(688018)2024-04-18 10:44Financial Performance - The company's revenue for Q1 2024 reached CNY 387.19 million, representing a year-on-year increase of 21.71%[7]. - Net profit attributable to shareholders was CNY 53.92 million, up 73.43% compared to the same period last year[8]. - The gross profit margin increased by 1.22 percentage points year-on-year, reaching 41.93%[9]. - Total operating revenue for Q1 2024 was RMB 387.19 million, an increase of 21.7% compared to RMB 318.12 million in Q1 2023[38]. - Net profit for Q1 2024 reached RMB 53.92 million, representing a 73.5% increase from RMB 31.09 million in Q1 2023[39]. - Basic and diluted earnings per share for Q1 2024 were RMB 0.6849, compared to RMB 0.3884 in Q1 2023, reflecting an increase of 76.3%[39]. Research and Development - R&D expenses totaled CNY 103.85 million, a year-on-year increase of 21.48%, accounting for 26.82% of revenue[7][10]. - The number of R&D personnel increased by 8.71% year-on-year, totaling approximately 490[10]. - Research and development expenses for Q1 2024 totaled RMB 103.85 million, an increase of 21.5% from RMB 85.48 million in Q1 2023[38]. Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of CNY 12.01 million, compared to a net inflow of CNY 33.29 million in the same period last year[12]. - The company's cash and cash equivalents increased to RMB 494,579,961.63 from RMB 464,011,234.05, reflecting a growth of about 6.0%[33]. - Cash inflow from investment activities in Q1 2024 was RMB 271.90 million, down from RMB 819.82 million in Q1 2023[41]. - The net cash increase from operating activities was 26,047,002.95 in the same period last year[43]. - The total cash and cash equivalents at the end of Q1 2024 amounted to 324,630,351.07 at the end of Q1 2023[43]. - The cash outflow from financing activities was 3,331,677.61 in the previous year, reflecting increased financial obligations[43]. Assets and Liabilities - The total assets decreased by 2.53% compared to the end of the previous year, amounting to CNY 2.15 billion[7][14]. - The total liabilities decreased from RMB 1,204,000,000 to RMB 1,180,000,000, reflecting a decrease of approximately 2.0%[34]. - The total current liabilities decreased to RMB 180,056,927.59 from RMB 216,633,191.87, a reduction of about 16.9%[34]. - The total liabilities as of Q1 2024 were RMB 265.50 million, a decrease from RMB 290.80 million in Q1 2023[38]. - Total equity attributable to shareholders was RMB 1,882.49 million in Q1 2024, down from RMB 1,913.00 million in Q1 2023[38]. Market Presence and Engagement - The company has a strong presence in the global IoT developer community, enhancing its product and technology engagement[16]. - The number of ESP32 projects on GitHub increased to 64,000, up from 59,100, representing an increase of 8.3%[19]. - The number of ESP8266 projects on GitHub rose to 44,800, a growth of 2.5% from 43,700[19]. - The total number of ESP32 videos on YouTube exceeded 1,000,000, indicating significant content growth[20]. - The number of ESP32 group members on Reddit grew to 81,000, an increase of 6.5% from 76,046[19]. - The number of official account followers on Bilibili reached 31,672, an increase of 4.7% from 30,261[19]. Non-Recurring Gains and Subsidies - The total government subsidies recognized in the current period amounted to ¥280,284.91[24]. - The total non-recurring gains amounted to ¥6,007,670.64 after tax effects[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 88.56%[25].