Quectel(603236)2024-04-22 12:07Financial Performance - The company's operating revenue for Q1 2024 reached ¥3,954,236,158.15, representing a year-on-year increase of 26.06%[2] - Net profit attributable to shareholders was ¥54,765,968.89, with a significant growth driven by the increase in sales revenue[7] - Basic and diluted earnings per share were both ¥0.21, reflecting the company's improved profitability[2] - The net profit for Q1 2024 is 52,477,908.25 RMB, a significant recovery from a net loss of 136,833,167.84 RMB in Q1 2023[31] - The total operating profit for Q1 2024 was 53,171,314.91 RMB, a recovery from an operating loss of 132,420,866.71 RMB in Q1 2023[31] - The company reported a comprehensive income total of 57,506,232.04 RMB in Q1 2024, compared to a comprehensive loss of 125,103,964.87 RMB in Q1 2023[32] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥708,960,316.35, a decrease of 354.59% compared to the previous year, primarily due to increased cash outflows for raw material procurement[7] - Cash and cash equivalents decreased to RMB 1,500,248,458.05 as of March 31, 2024, down from RMB 1,871,655,491.62 at the end of 2023, a decline of 19.8%[19] - Operating cash flow net amount for Q1 2024 was -708,960,316.35 RMB, a decline from a positive cash flow of 278,466,831.14 RMB in Q1 2023[33] - Net cash flow from financing activities was approximately 261.29 million, indicating an increase of about 38.76%[43] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,777,788,663.39, up 4.85% from the end of the previous year[10] - Total liabilities increased to RMB 8,166,847,844.19 from RMB 7,608,802,136.80, reflecting a rise of 7.3%[21] - Current liabilities rose to approximately 5.58 billion, marking an increase of about 10.47%[36] - Short-term borrowings increased significantly to approximately 719.56 million, reflecting a rise of about 55.73%[36] - Long-term borrowings increased to approximately 1.44 billion, showing a growth of about 4.67%[36] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 31,834[7] - The largest shareholder, Qian Penghe, holds 22.74% of the shares, totaling 60,175,557 shares[9] - The equity attributable to shareholders decreased slightly by 0.30% to ¥3,621,596,513.76[10] - The total equity attributable to shareholders was RMB 3,610,940,819.20, down from RMB 3,624,204,046.71, a decrease of 0.4%[21] Operating Costs and Expenses - The total operating costs for Q1 2024 were RMB 3,893,082,967.73, up from RMB 3,292,740,724.75 in Q1 2023, reflecting a year-over-year increase of 18.3%[21] - Research and development expenses decreased to 380,226,757.47 RMB in Q1 2024 from 439,376,006.50 RMB in Q1 2023, a reduction of about 13.4%[31] - The financial expenses decreased significantly to 20,063,430.57 RMB in Q1 2024 from 53,347,976.18 RMB in Q1 2023, a reduction of approximately 62.5%[31] Other Income and Tax - The company reported non-operating income of ¥3,323,104.70 from government subsidies related to normal business operations[12] - The company recorded a tax expense of -502,279.39 RMB in Q1 2024, compared to a tax expense of 2,850,018.36 RMB in Q1 2023[31] Inventory and Receivables - Accounts receivable increased to RMB 1,984,283,684.06 from RMB 1,653,066,678.77, representing a growth of 20.0%[19] - Inventory rose to RMB 3,853,556,177.06, compared to RMB 3,523,491,182.17, marking an increase of 9.4%[19] Investment and Other Assets - The net amount raised from the public offering of 4,807,714 shares was RMB 1,060,856,140.84 after deducting issuance costs[17] - The balance of the "Global Smart Manufacturing Center Construction Project" account was RMB 26,535,715.44 as of March 31, 2024[17] - Deferred tax assets increased slightly to approximately 28.87 million, reflecting a growth of about 2.81%[36] - Other non-current assets rose significantly to approximately 24.54 million, an increase of about 82.67%[36]