JINGJIA MICRO(300474)2024-04-24 11:21Financial Performance - Revenue for the first quarter of 2024 was RMB 108.38 million, a 66.27% increase compared to the same period last year[3] - Net profit attributable to shareholders of the listed company was RMB -11.54 million, an 83.68% improvement year-over-year[3] - Operating cash flow for the first quarter was RMB -90.26 million, a slight decrease of 2.51% compared to the same period last year[3] - Total operating revenue increased to 108,379,019.23 yuan, up 66.3% compared to the previous period's 65,181,995.44 yuan[20] - Operating costs rose to 40,202,601.13 yuan, a 45.9% increase from the previous period's 27,558,937.78 yuan[20] - Net profit for the period was -11,535,163.86 yuan, an improvement from the previous period's -70,678,727.09 yuan[21] - Basic earnings per share improved to -0.03 yuan from -0.16 yuan in the previous period[22] Cash Flow and Investments - Investment cash flow improved significantly, with a net outflow of RMB -5.88 million, an 88.07% reduction compared to the same period last year[8] - Cash received from sales of goods and services was 126,599,363.54 yuan, down 11.9% from the previous period's 143,705,990.51 yuan[23] - Cash paid for goods and services increased to 158,254,556.69 yuan, up 51.3% from the previous period's 104,616,185.76 yuan[23] - Net cash flow from operating activities was -90,256,846.22 yuan, slightly worse than the previous period's -88,046,532.83 yuan[23] - Investment activities generated a net cash outflow of RMB 5.88 million, compared to RMB 49.26 million in the same period last year[24] - Financing activities generated a net cash inflow of RMB 22.32 million, an increase from RMB 21.23 million in the same period last year[24] - The net increase in cash and cash equivalents was a negative RMB 73.82 million, compared to a negative RMB 116.08 million in the same period last year[24] - The ending balance of cash and cash equivalents was RMB 1.01 billion, down from RMB 1.08 billion at the beginning of the period[24] - The company invested RMB 10.68 million in the construction of fixed assets, intangible assets, and other long-term assets, a decrease from RMB 22.84 million in the same period last year[24] - The company received RMB 25.43 million from absorbing investments, an increase from RMB 22.89 million in the same period last year[24] - The company paid RMB 1.41 million in dividends, profits, or interest payments, a slight decrease from RMB 1.42 million in the same period last year[24] - The company's cash outflow from investment activities was RMB 22.55 million, a significant decrease from RMB 99.26 million in the same period last year[24] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 4.19 billion, a slight decrease of 0.04% compared to the end of the previous year[3] - Prepaid expenses increased by 78.83% to RMB 107.31 million due to higher advance payments[5] - Construction in progress decreased by 94.22% to RMB 694,966.52 due to the transfer of projects to fixed assets[5] - Total assets as of the end of the reporting period were 4.1929 billion yuan, with total liabilities of 764.7069 million yuan and total equity of 3.4282 billion yuan[19] - Current assets totaled 2.9174 billion yuan, including 1.0092 billion yuan in monetary funds and 690.2710 million yuan in inventory[17][18] - Non-current assets amounted to 1.2755 billion yuan, including 522.3364 million yuan in fixed assets and 186.8721 million yuan in intangible assets[18] - Current liabilities were 591.9414 million yuan, including 233.5584 million yuan in accounts payable and 156.2604 million yuan in non-current liabilities due within one year[18][19] - Non-current liabilities totaled 172.7655 million yuan, including 54.4605 million yuan in deferred income and 37.7189 million yuan in lease liabilities[19] - Shareholders' equity was 3.4282 billion yuan, including 1.5821 billion yuan in capital reserve and 1.1986 billion yuan in retained earnings[19] R&D and Strategic Focus - The company's R&D efforts are focused on advancing GPU technology, particularly in the field of artificial intelligence, aiming to transition from "specialized" to "specialized + general-purpose" GPU development[15] - The company's total R&D investment in the first quarter of 2024 was not disclosed, but the company emphasized its commitment to continuous investment in key technologies and resources[15] - The company's strategic focus includes expanding into new application markets and providing high-reliability, high-quality, and diversified solutions to customers[15] - The company's R&D strategy includes optimizing product development processes and enhancing R&D efficiency to maintain a competitive edge in the market[15] - The company successfully developed the Jinghong series of high-performance intelligent computing modules and complete machine products, filling the product gap in AI training, AI inference, and scientific computing applications, laying the foundation for future growth in the AI field[16] - In Q1 2024, the company invested 70.2865 million yuan in R&D, accounting for 64.85% of its operating revenue[16] - The company implemented a private placement of A-shares to accelerate R&D investment, with the plan approved by the Shenzhen Stock Exchange and pending approval from the China Securities Regulatory Commission[16] - R&D expenses decreased to 70,286,523.55 yuan, down 7.0% from the previous period's 75,538,766.42 yuan[20] Shareholders and Equity - The top shareholder, Yu Lili, holds 29.10% of the company's shares[9] - The company's total restricted shares at the end of the period amounted to 127,875,246 shares, with a reduction of 630,768 shares during the period[14] - The company's top 10 shareholders hold a significant portion of the company's shares, with Yu Lili holding 33,362,712 shares, accounting for 7.27% of the total shares[11] - The company's top 10 shareholders include institutional investors such as China Construction Bank and Industrial and Commercial Bank of China, holding 5,251,067 and 4,882,564 shares respectively[11] - The company's restricted shares are primarily held by senior management, with Yu Lili holding 100,088,135 shares and Zeng Wanhui holding 13,843,010 shares[14] - The company's top 10 shareholders include both individual and institutional investors, with a total of 33,362,712 shares held by Yu Lili and 27,822,973 shares held by National Integrated Circuit Industry Investment Fund Co., Ltd[11] - The company's restricted shares are subject to lock-up periods, with senior management shares set to be unlocked according to regulatory requirements[14] Government Subsidies and Non-Recurring Gains - Government subsidies contributed RMB 5.95 million to non-recurring gains[4] Financial Expenses - Financial expenses decreased by 86.49% to RMB -3.19 million due to increased interest income[7]