Hillstone Networks(688030)2025-04-24 13:20Financial Performance - The company's operating revenue for Q1 2025 was CNY 158 million, representing a year-on-year increase of 4.58% compared to CNY 151 million in the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 74.41 million, a slight improvement from a loss of CNY 75.40 million in the previous year, indicating a decrease in loss by 1.32%[4]. - The net cash flow from operating activities was negative CNY 119.15 million, a significant decline from negative CNY 10.71 million in the same period last year[3]. - Total revenue for Q1 2025 was ¥158,002,030.06, an increase of 4.0% compared to ¥151,082,170.00 in Q1 2024[19]. - Net loss for Q1 2025 was ¥74,938,286.85, slightly improved from a net loss of ¥75,860,136.04 in Q1 2024[20]. - The company reported a total comprehensive loss of ¥74,896,153.85 in Q1 2025, slightly better than the loss of ¥75,847,770.99 in Q1 2024[21]. - The company incurred a net loss of 41,508,747.77 RMB in the latest quarter, compared to a net loss of 36,083,223.05 RMB in the same period last year, indicating a worsening financial performance[31]. - The company reported a total profit loss of 41,372,297.06 RMB for the quarter, compared to a loss of 35,107,770.37 RMB in the previous year[31]. Assets and Liabilities - Total assets decreased by 4.69% to CNY 1.89 billion from CNY 1.99 billion at the end of the previous year[4]. - The company's total assets decreased to ¥1,892,291,667.81 in Q1 2025 from ¥1,985,452,032.75 in Q1 2024, a reduction of approximately 4.7%[17]. - Total liabilities decreased to ¥1,044,128,015.02 in Q1 2025 from ¥1,062,404,328.58 in Q1 2024, a decline of about 1.7%[17]. - The total liabilities increased to CNY 714,805,234.23 from CNY 679,121,663.81, reflecting a rise in financial obligations[29]. - The company's total equity decreased to CNY 965,355,506.95 from CNY 1,006,852,152.25, indicating a reduction in shareholder value[29]. Research and Development - Research and development expenses totaled CNY 87.66 million, up 4.25% from CNY 84.09 million year-on-year, accounting for 55.48% of operating revenue[4]. - Research and development expenses increased to ¥87,663,183.44 in Q1 2025 from ¥84,088,141.17 in Q1 2024, reflecting a growth of 3.2%[20]. - Research and development expenses for Q1 2025 were CNY 55,433,931.77, slightly up from CNY 54,008,235.09 in Q1 2024, indicating continued investment in innovation[30]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,829[10]. - The largest shareholder, Shenzhou Cloud Technology Co., Ltd., holds 23,357,932 shares, accounting for 12.96% of total shares[10]. - The total number of shares held by the top 10 shareholders includes 12,604,505 shares held by 360 Digital Security Technology Group, representing 6.99%[10]. - The company has no shares under pledge, marking a stable shareholder structure[10]. - The company has not reported any significant changes in shareholder relationships or agreements[11]. Cash Flow and Financing - The net cash flow from financing activities was CNY 65,160,504.59, an increase from CNY 44,332,099.10 in the previous period, suggesting improved financing conditions[25]. - Cash inflow from financing activities in Q1 2025 was 194,000,000.00 RMB, significantly higher than 50,000,000.00 RMB in Q1 2024[33]. - The company reported a net cash flow from investing activities of CNY 52,363,060.47, a recovery from -CNY 65,419,592.57 in the previous period[24]. - The company generated a net cash flow from investing activities of 59,234,763.67 RMB in Q1 2025, recovering from a negative cash flow of -93,760,467.77 RMB in Q1 2024[33]. Operational Strategies - The company aims to focus on "key industries," "platform switching," "over 100 million production lines," and "brand transformation" as its four major operational strategies for 2025[4].