OCFT(US:OCFT)2024-08-16 10:41Revenue Performance - Revenue from continuing operations decreased by 19.1% to RMB723 million in Q1 2024, down from RMB894 million in the same period last year[9] - Revenue for the three months ended March 2024 was RMB 723.27 million, a decrease of 19.1% from RMB 893.83 million for the same period in 2023[29] - Revenue from third-party overseas customers increased by 14.8% year-over-year in Q1 2024, indicating rapid growth in overseas business[6] - Revenue from the Gamma Platform segment decreased by 6.2% to RMB430 million in Q1 2024, contributing 59.4% of total revenue[10] Profitability and Loss - Gross profit for the same period was RMB 272.40 million, down 18.6% from RMB 334.66 million year-over-year[29] - Operating loss from continuing operations narrowed by 15.1% to RMB66 million in Q1 2024, compared to RMB78 million in the same period last year[2] - Net loss from continuing operations attributable to shareholders decreased by 25.9% to RMB54 million in Q1 2024, down from RMB72 million in the prior year[18] - Total comprehensive loss for the period was RMB 101.50 million, an improvement from RMB 162.25 million in the same period last year[31] - The company reported a loss per share from continuing operations of RMB 0.05, compared to RMB 0.07 in the previous year[31] Operational Efficiency - Gross margin of continuing operations improved by 0.3 percentage points year-over-year to 37.7% in Q1 2024, compared to 37.4% in the prior year[2] - Operating expenses from continuing operations decreased to RMB342 million in Q1 2024, down from RMB416 million in the prior year[14] - Operating loss narrowed to RMB 66.35 million from RMB 78.14 million year-over-year, indicating improved operational efficiency[29] - Net cash used in operating activities improved to RMB (115,236) from RMB (613,264), a reduction of 81.2%[36] Research and Development - Research and development expenses decreased by 22.8% year-over-year to RMB213 million in Q1 2024, reflecting a strategic focus on high-quality projects[7] - Research and development expenses decreased to RMB 213.18 million, a reduction of 22.8% compared to RMB 276.15 million in the previous year[29] Cash Flow and Assets - Net cash used in operating activities was RMB155 million in Q1 2024, while net cash generated from investing activities was RMB256 million[19] - Cash and cash equivalents decreased to RMB 1.25 billion from RMB 1.38 billion at the end of 2023[33] - Total assets increased to RMB 8.14 billion as of March 2024, compared to RMB 8.07 billion at the end of 2023[33] - Net cash generated from investing activities was RMB 255,848, down from RMB 407,066, a decrease of 37.1%[36] - Net cash used in financing activities increased to RMB (100,971) from RMB (44,421), reflecting a rise of 127.5%[36] Liabilities and Equity - Total liabilities increased to RMB 5,294,224, up from RMB 5,120,566, representing a growth of 3.4% year-over-year[34] - Total current liabilities rose to RMB 5,237,552, compared to RMB 5,073,078, marking an increase of 3.2%[34] - Total equity and liabilities reached RMB 8,141,666, a marginal increase from RMB 8,068,358[34]