Quectel(SH:603236)2020-04-28 16:00Financial Performance - Operating revenue rose by 39.25% to CNY 1,029,575,139.66 year-on-year[17] - Net profit attributable to shareholders decreased by 21.88% to CNY 33,918,449.02 compared to the same period last year[17] - Basic earnings per share dropped by 41.54% to CNY 0.38 from CNY 0.65 year-on-year[17] - The weighted average return on equity decreased by 4.44 percentage points to 1.96%[17] - Total revenue for Q1 2020 reached ¥1,029,575,139.66, a 39.2% increase from ¥739,353,549.75 in Q1 2019[51] - Net profit for Q1 2020 was ¥33,918,449.02, compared to ¥43,419,624.25 in Q1 2019, indicating a decrease of 21.6%[55] - The total comprehensive income for Q1 2020 was CNY 34.20 million, a decrease of 20.2% from CNY 42.84 million in Q1 2019[61] Assets and Liabilities - Total assets increased by 12.52% to CNY 3,299,115,040.10 compared to the end of the previous year[17] - The total liabilities of the company were RMB 1,547,819,848.15, up from RMB 1,217,250,423.43, representing a growth of about 27.1%[43] - The company's current assets totaled RMB 2,885,091,372.19, up from RMB 2,558,000,560.70, indicating an increase of about 12.8% year-over-year[43] - Total current liabilities were reported at $1,217,250,423.43[79] - Total liabilities equaled $1,217,250,423.43, with total equity amounting to $1,714,723,122.18[79] Cash Flow - Net cash flow from operating activities was negative at CNY -390,099,666.10, compared to CNY -144,516,303.31 in the previous year[17] - The net cash flow from operating activities was -$406,461,180.07, compared to -$155,970,628.07 in the same quarter last year, indicating a significant increase in cash outflow[70] - Cash inflow from operating activities totaled $1,126,819,353.19, up from $680,985,304.90 year-over-year, reflecting a growth of approximately 65.3%[70] - Cash outflow for operating activities reached $1,533,280,533.26, compared to $836,955,932.97 in the previous year, representing an increase of about 83.1%[70] Shareholder Information - The number of shareholders at the end of the reporting period was 13,058[23] - The largest shareholder, Qian Penghe, holds 23.78% of the shares, totaling 21,205,050 shares[23] Research and Development - Research and development expenses surged by 113.23% to RMB 116,292,867.82, reflecting the company's commitment to enhancing R&D capabilities[32] - Research and development expenses for Q1 2020 were ¥116,292,867.82, significantly higher than ¥54,538,330.86 in Q1 2019, showing a 113.1% increase[55] Inventory and Receivables - Accounts receivable increased by 44.08% to RMB 692,939,714.01, primarily due to concentrated sales deliveries in the latter part of the quarter[26] - Inventory rose by 68.19% to RMB 1,218,252,948.61, driven by increased stockpiling in anticipation of future sales growth[29] - The total amount of deferred tax assets increased by 33.79% to RMB 7,505,380.05, linked to higher provisions for accounts receivable impairment[29] Government Subsidies and Other Income - Government subsidies recognized in the current period amounted to CNY 16,570,980.00[21] - The company recorded other income of RMB 16,570,980.00, a substantial increase of 2,413.77% compared to the previous year, primarily from government subsidies[32] Financial Stability and Compliance - The company is implementing new revenue recognition standards effective January 1, 2020, which are not expected to significantly impact financial reporting[82] - The company’s earnings report indicates a focus on maintaining financial stability and compliance with new accounting standards[88]