澜起科技(688008) - 2024 Q1 - 季度财报

Financial Performance - In Q1 2024, the company achieved operating revenue of RMB 737.26 million, a year-on-year increase of 75.74%[5] - The net profit attributable to shareholders reached RMB 223.41 million, reflecting a significant year-on-year growth of 1,032.86%[5] - The net profit after deducting non-recurring gains and losses was RMB 219.64 million, up 74,117.63% compared to the same period last year[5] - The company's operating revenue increased by 75.74% year-on-year, driven by the recovery in demand for memory interface chips and the scale shipment of new products such as PCIe Retimer and MRCD/MDB chips[12] - Net profit attributable to shareholders reached 1,032.86 million RMB, reflecting a significant increase due to higher revenue from high-margin products like DDR5 memory interface chips[12] - The company reported a significant increase in cash flow from operating activities, attributed to the substantial growth in revenue and net profit[12] - Total operating revenue for Q1 2024 reached ¥737,262,933.17, a significant increase from ¥419,527,893.03 in Q1 2023, representing a growth of approximately 75.8%[24] - The net profit for Q1 2024 was CNY 223,408,575.46, a significant increase from CNY 19,720,742.46 in Q1 2023, representing a growth of approximately 1,133%[25] - Operating profit for Q1 2024 reached CNY 240,601,444.51, compared to CNY 24,034,391.42 in the same period last year, indicating a year-over-year increase of about 900%[25] - Total revenue from sales and services in Q1 2024 was CNY 816,585,595.54, up from CNY 568,305,032.12 in Q1 2023, marking an increase of approximately 43.7%[27] Research and Development - The R&D investment totaled RMB 176.04 million, representing 23.88% of operating revenue, a decrease of 8.07 percentage points year-on-year[5] - Research and development expenses totaled 31.33 million RMB, indicating a substantial increase in R&D investment and personnel costs compared to the previous year[12] - R&D expenses in Q1 2024 amounted to ¥176,044,108.52, up from ¥134,045,479.35 in Q1 2023, reflecting a rise of approximately 31.4%[24] Product Performance - Sales revenue from the interconnect chip product line was RMB 695 million, a 68.38% increase year-on-year, marking a historical high for Q1 sales[8] - The PCIe Retimer chip saw a quarterly shipment of approximately 150,000 units, exceeding the total shipment for the entire year of 2023 by 1.5 times[9] - The gross margin for interconnect chip products was 60.93%, an increase of 6.98 percentage points year-on-year, contributing to a 90.29% growth in overall gross profit[7] - The gross profit margin for interconnect chip product lines improved to 60.93%, up by 6.98 percentage points compared to the same period last year, contributing to a 90.29% increase in overall gross profit[12] - The company expects significant increases in shipments of DDR5 second and third generation RCD chips in 2024, with the second generation expected to surpass the first generation in the first half of the year[9] Cash Flow and Assets - The company's cash flow from operating activities was RMB 354.85 million, with no applicable year-on-year comparison[5] - Cash and cash equivalents as of March 31, 2024, were ¥5,723,346,358.20, a decrease from ¥5,743,574,648.73 as of December 31, 2023[21] - The total assets of the company as of March 31, 2024, were ¥10,707,523,669.90, slightly up from ¥10,697,540,981.27 at the end of 2023[23] - The company’s total liabilities as of March 31, 2024, were ¥493,057,411.67, compared to ¥490,921,528.40 at the end of 2023, indicating a marginal increase[22] - Cash flow from operating activities generated CNY 354,848,215.59 in Q1 2024, a turnaround from a negative cash flow of CNY -64,132,548.78 in Q1 2023[27] - The company experienced a net cash outflow from investing activities of CNY -144,403,339.05 in Q1 2024, an improvement from CNY -423,860,014.18 in Q1 2023[27] - The net cash flow from financing activities was CNY -240,288,006.64 in Q1 2024, compared to a positive cash flow of CNY 40,710,120.92 in Q1 2023[28] Shareholder Information - Major shareholders include China Electronics Investment Holding Co., Ltd. with a 7.22% stake and Intel Capital Corporation with a 5.76% stake[13] - The total number of ordinary shareholders at the end of the reporting period was 40,909[13] - The number of shares held by the top 10 shareholders changed due to securities lending, with a notable addition of 13,534,093 shares by a new fund[18] - The company’s equity attributable to shareholders increased to ¥10,199,252,773.12 as of March 31, 2024, from ¥10,191,406,155.95 at the end of 2023[23] Future Outlook - As of April 22, 2024, the company anticipates over RMB 90 million in orders for PCIe Retimer, MRCD/MDB, and CKD chips to be delivered in Q2 2024[9] - The company plans to continue expanding its product offerings and market presence, focusing on high-margin products and technological advancements[12] - The company has new product orders expected to be delivered in Q2 2024, although these figures are subject to change based on customer actions and delivery capabilities[19]