ZTE(000063)2025-04-22 10:20Financial Performance - The company's operating revenue for Q1 2025 reached CNY 32,968,196 thousand, representing a 7.82% increase compared to CNY 30,578,301 thousand in Q1 2024[9] - Net profit attributable to shareholders decreased by 10.50% to CNY 2,453,172 thousand from CNY 2,740,979 thousand in the same period last year[9] - The company's basic and diluted earnings per share were both CNY 0.51, down 10.53% from CNY 0.57 in the previous year[9] - Operating profit for Q1 2025 was RMB 2,912,938 thousand, down 9.5% from RMB 3,216,306 thousand in Q1 2024[24] - The total comprehensive income for Q1 2025 was RMB 2,428,225 thousand, compared to RMB 2,709,941 thousand in Q1 2024[24] Cash Flow - The net cash flow from operating activities fell by 37.93% to CNY 1,851,253 thousand, down from CNY 2,982,601 thousand in Q1 2024[9] - Operating cash flow net amount decreased by 37.93% year-on-year to 1,851,253 from 2,982,601, mainly due to increased cash payments for goods and services[14] - The company reported a net cash flow from financing activities of RMB 4,909,628 thousand in Q1 2025, compared to RMB 5,958,678 thousand in Q1 2024[26] - The company experienced a net cash outflow from investing activities of RMB 1,383,661 thousand in Q1 2025, compared to a much larger outflow of RMB 15,060,862 thousand in Q1 2024[26] Assets and Liabilities - Total assets as of March 31, 2025, amounted to CNY 217,918,283 thousand, a 5.11% increase from CNY 207,323,230 thousand at the end of 2024[9] - The company's total liabilities amounted to RMB 145,350,129 thousand, up from RMB 134,212,948 thousand, indicating an increase of about 8.0%[22] - Current assets totaled RMB 151,359,279 thousand, compared to RMB 141,787,346 thousand, representing a growth of approximately 6.0%[20] - The total current liabilities increased to RMB 94,264,742 thousand from RMB 82,635,473 thousand, representing a growth of approximately 14.0%[22] Shareholder Information - The total number of shareholders as of March 31, 2025, was 542,461, with 296 being H-share shareholders[16] - The largest shareholder, ZTE New Communications Co., Ltd., holds 20.09% of the shares, totaling 958,940,400 shares[16] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 15.73% of the shares, totaling 752,306,076 shares[16] Operational Highlights - Non-recurring gains and losses totaled CNY 496,472 thousand after tax for Q1 2025, with significant contributions from software product VAT refunds and other operational income[11] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9] - Research and development expenses for Q1 2025 amounted to RMB 5,946,993 thousand, representing a 6.7% decrease from RMB 6,375,823 thousand in Q1 2024[24] Financial Ratios and Metrics - The weighted average return on equity decreased by 0.56 percentage points to 3.38% from 3.94% in the same period last year[9] - Credit impairment losses increased by 263.81% year-on-year, amounting to (117,240) compared to (32,226) in the same period last year, primarily due to increased provisions for accounts receivable[14] - Financial expenses increased significantly by 432.98% to CNY (340,005) thousand, attributed to higher net interest income and exchange rate gains[13] Inventory and Cash Management - The company's inventory increased to RMB 44,447,940 thousand from RMB 41,257,657 thousand, marking a rise of approximately 5.3%[20] - The cash and cash equivalents stood at RMB 44,000,861 thousand, slightly increasing from RMB 43,885,348 thousand, showing a growth of about 0.3%[20]