VEICHI(SH:688698)2025-04-28 15:25Financial Performance - The company's operating revenue for Q1 2025 was CNY 387,126,412.90, representing an increase of 18.16% compared to CNY 327,631,550.08 in the same period last year[4] - The net profit attributable to shareholders was CNY 56,656,643.91, up 5.60% from CNY 53,652,023.63 year-on-year[4] - Basic earnings per share were CNY 0.27, a 3.85% increase from CNY 0.26 in the same period last year[4] - The diluted earnings per share rose by 8.00% to CNY 0.27 from CNY 0.25 year-on-year[4] - Net profit for Q1 2025 was ¥55,796,759.13, representing a 3.9% increase compared to ¥53,716,040.37 in Q1 2024[19] - Earnings per share for Q1 2025 were ¥0.27, slightly up from ¥0.26 in Q1 2024[20] Research and Development - Research and development expenses totaled CNY 49,212,608.15, which is 12.71% of operating revenue, a decrease of 1.22 percentage points from the previous year[5] - Research and development expenses amounted to RMB 49.21 million, accounting for 12.71% of operating revenue[12] - The company employed 632 R&D personnel, representing 34.54% of total staff[12] - As of March 31, 2025, the company held a total of 220 valid patents, including 57 invention patents[12] - Research and development expenses increased to ¥49,212,608.15 in Q1 2025, compared to ¥45,652,214.46 in Q1 2024, reflecting a 12.4% rise[19] Cash Flow - The net cash flow from operating activities was negative at CNY -46,682,578.91, worsening from CNY -21,577,195.67 in the same period last year[4] - In Q1 2025, the cash inflow from operating activities was CNY 324,019,257.57, a 50.3% increase compared to CNY 215,614,112.39 in Q1 2024[21] - Cash outflow from operating activities totaled CNY 370,701,836.48, up 56.2% from CNY 237,191,308.06 in Q1 2024[22] - The company experienced a net decrease in cash and cash equivalents of CNY -22,589,563.92 in Q1 2025, contrasting with an increase of CNY 84,388,700.69 in Q1 2024[22] - The cash and cash equivalents at the end of Q1 2025 were CNY 141,696,089.39, down from CNY 254,452,404.28 at the end of Q1 2024[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,114,661,148.84, an increase of 1.32% from CNY 3,073,967,764.61 at the end of the previous year[5] - Total current assets as of March 31, 2025, were RMB 1,808.01 million, compared to RMB 1,661.48 million at the end of 2024[14] - Total liabilities decreased to ¥933,375,819.45 from ¥959,600,593.22, indicating a reduction of approximately 2.7%[16] - The company's total equity rose to ¥2,181,285,329.39, up from ¥2,114,367,171.39, reflecting a growth of 3.2%[16] Revenue Breakdown - Domestic main business revenue reached RMB 279.83 million, a year-on-year increase of 15.33%[11] - Overseas main business revenue reached RMB 99.20 million, a year-on-year increase of 28.74%[11] - Revenue from variable frequency drive products was RMB 231.92 million, a year-on-year increase of 17.95%[11] - Revenue from servo systems and control systems was RMB 132.91 million, a year-on-year increase of 9.76%[11] Other Financial Metrics - The weighted average return on equity was 2.67%, a decrease of 0.07 percentage points from 2.74% in the previous year[4] - The company reported non-recurring gains and losses totaling CNY 1,597,138.39 for the period[7] - The company reported a credit impairment loss of ¥807,778.62, an improvement from a loss of ¥3,682,782.24 in the previous year[19] - Deferred income tax assets increased to ¥35,979,938.15 from ¥30,753,476.23, marking a growth of 17.3%[15]