Piotech (SH:688072)2025-04-29 10:58Financial Performance - In Q1 2025, the company achieved revenue of 709 million RMB, a significant increase of 50.22% year-on-year[3] - The company reported a net loss attributable to shareholders of 147 million RMB, a decline of 1,503.33% compared to the same period last year[5] - Total revenue for Q1 2025 reached ¥708.70 million, a significant increase of 50.2% compared to ¥471.79 million in Q1 2024[20] - The company reported a net loss of ¥151.71 million in Q1 2025, compared to a net profit of ¥7.78 million in Q1 2024[21] - Operating profit for Q1 2025 was negative at ¥147.99 million, a decline from a profit of ¥7.76 million in Q1 2024[21] Cash Flow and Liquidity - The net cash flow from operating activities turned positive, reaching 10.93 million RMB, a substantial increase of 73.23 million RMB compared to the same period last year[3] - In Q1 2025, the cash inflow from operating activities was CNY 1,615,701,584.48, a significant increase from CNY 525,573,830.71 in Q1 2024, representing a growth of approximately 206.5%[24] - The net cash flow from operating activities was CNY 10,925,081.84, recovering from a negative cash flow of CNY -721,350,817.72 in the same quarter last year[24] - The ending cash and cash equivalents balance was CNY 2,335,535,172.01, slightly down from CNY 2,343,575,535.81 at the end of Q1 2024[25] Research and Development - R&D investment for Q1 2025 was 159 million RMB, accounting for 22.38% of revenue, a decrease of 10.09 percentage points from the previous year[4] - The company is advancing R&D in high-capacity, high-performance film deposition equipment and new generation bonding products for 3D integration applications[4] - Research and development expenses for Q1 2025 were ¥145.96 million, a decrease of 4.1% from ¥153.21 million in Q1 2024[20] Assets and Liabilities - The total assets at the end of Q1 2025 were 16.21 billion RMB, reflecting a growth of 5.86% from the end of the previous year[5] - Total liabilities rose to ¥10.99 billion, compared to ¥10.02 billion in the previous period, indicating a 9.7% increase[17] - The company's cash and cash equivalents decreased to ¥747.27 million from ¥662.06 million, reflecting a decline of 12.9%[16] Shareholder Information - The company has a major shareholder, the National Integrated Circuit Industry Investment Fund, holding 19.67% of shares, totaling 55,026,693 shares[11] - The top ten shareholders include various investment funds, with the largest being the National Integrated Circuit Industry Investment Fund and the Shanghai Investment Management Company, which collectively hold significant stakes[12] - There are no significant changes in the shareholding structure of the top ten shareholders due to securities lending activities[14] Inventory and Receivables - The company’s pre-receivable payments reached 3.75 billion RMB, an increase of 25.79% from the end of 2024[8] - Accounts receivable rose to approximately ¥1.61 billion, up from ¥1.47 billion, reflecting an increase of about 8.5%[15] - Inventory levels increased to approximately ¥7.81 billion from ¥7.22 billion, indicating a growth of about 7.8%[15] Market and Growth - The company’s revenue growth was driven by increased demand from domestic wafer manufacturers for semiconductor equipment[8] - The company has a strong focus on expanding its market presence and developing new technologies, as indicated by its substantial investments in trading financial assets and inventory[15] Financial Activities - Cash outflow for purchasing goods and services was CNY 1,276,997,364.96, compared to CNY 986,016,674.63 in Q1 2024, indicating an increase of about 29.4%[24] - The net cash flow from investing activities was CNY -639,000,343.19, worsening from CNY -118,786,643.13 in Q1 2024[25] - Cash inflow from financing activities totaled CNY 210,612,583.02, down from CNY 588,272,369.27 in the previous year, a decline of approximately 64.2%[25] Other Financial Metrics - The weighted average return on net assets was -2.81%, a decrease of 3.04 percentage points year-on-year[5] - The company’s basic earnings per share for Q1 2025 were -¥0.53, compared to ¥0.04 in Q1 2024[21] - The company reported cash and cash equivalents of approximately ¥2.50 billion as of March 31, 2025, down from ¥3.00 billion on December 31, 2024, representing a decrease of about 16.7%[15]