Xingtu Xinke(SH:688081)2025-04-29 13:28Financial Performance - The company's revenue for Q1 2025 was CNY 18,075,417.57, representing a 2.05% increase compared to CNY 17,712,605.28 in the same period last year[2] - The net profit attributable to shareholders was a loss of CNY 20,062,120.32, compared to a loss of CNY 12,937,677.27 in the previous year, indicating a significant decline[2] - The basic earnings per share decreased to -CNY 0.20 from -CNY 0.13 year-on-year[3] - Net loss for Q1 2025 was ¥19,328,177.98, compared to a net loss of ¥13,318,320.01 in Q1 2024, reflecting a deterioration in performance[16] Research and Development - Research and development expenses totaled CNY 9,825,617.15, accounting for 54.36% of revenue, down from 56.30% in the previous year[3] - Research and development expenses increased to ¥9,825,617.15 in Q1 2025, up from ¥8,005,132.28 in Q1 2024, indicating a focus on innovation[15] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 25,152,772.56, slightly improved from -CNY 25,341,712.82 in the previous year[2] - The net cash flow from operating activities for Q1 2025 was -¥25,152,772.56, slightly improved from -¥25,341,712.82 in Q1 2024[18] - Cash and cash equivalents at the end of Q1 2025 stood at ¥68,602,616.03, compared to ¥51,270,199.85 at the end of Q1 2024[19] Assets and Liabilities - Total assets decreased by 7.06% to CNY 553,403,052.84 from CNY 595,417,705.75 at the end of the previous year[3] - The company's current assets decreased to RMB 383,381,670.11 from RMB 421,015,645.24, representing a decline of about 8.95%[11] - The total liabilities decreased to RMB 139,187,289.90 from RMB 161,873,764.83, indicating a reduction of approximately 14.06%[13] - The company's cash and cash equivalents dropped to RMB 71,698,904.52 from RMB 115,725,145.02, a decrease of around 38.06%[11] - The total equity attributable to the parent company decreased to RMB 415,877,700.17 from RMB 435,939,820.49, a decline of about 4.59%[13] - The company's short-term borrowings decreased to RMB 50,050,416.68 from RMB 70,061,638.90, a reduction of approximately 28.63%[12] - The total liabilities to equity ratio improved to approximately 33.57% from 37.29%, indicating a strengthening of the company's financial position[13] Operating Costs - Total operating costs rose to ¥37,862,054.72 in Q1 2025, up 9.88% from ¥34,622,413.48 in Q1 2024[15] - Selling expenses for Q1 2025 were ¥7,483,675.03, compared to ¥6,912,600.48 in Q1 2024, reflecting increased marketing efforts[15] Government Support - The company received government subsidies amounting to CNY 6,500.00, which are expected to have a continuous impact on profits[4] Non-Recurring Items - The total non-recurring gains and losses amounted to CNY 41,388.67 after tax adjustments[5] Future Plans - The company plans to continue focusing on R&D and improving operational efficiency to address the increased operating costs and declining gross margins[5]