ArcSoft(SH:688088)2020-04-27 16:00Financial Performance - Operating revenue rose by 31.00% to CNY 165,119,799.86 year-on-year[10] - Net profit attributable to shareholders increased by 62.04% to CNY 49,295,831.45 compared to the same period last year[10] - Basic earnings per share increased by 50.00% to CNY 0.12 compared to CNY 0.08 in the same period last year[10] - The total operating revenue for the first quarter of 2020 was CNY 70,928,503.86, an increase from CNY 32,043,704.24 in the same period of 2019, representing a growth of approximately 121%[53] - The net profit attributable to the parent company's shareholders for the first quarter of 2020 was CNY 49,295,831.45, compared to CNY 30,421,221.62 in the previous year, reflecting an increase of about 62%[51] - The operating profit for the first quarter of 2020 was CNY 59,072,552.47, compared to CNY 34,065,452.18 in the previous year, showing an increase of approximately 73%[51] - The total comprehensive income for the first quarter of 2020 was CNY 55,211,478.74, significantly higher than CNY 26,333,682.08 in the first quarter of 2019, representing an increase of about 109%[53] Cash Flow and Liquidity - Net cash flow from operating activities was CNY 20,616,976.71, a significant improvement from a negative cash flow of CNY -15,218,254.38 in the previous year[10] - The company’s cash inflows from operating activities included ¥156,839,712.12 from sales of goods and services, a substantial increase from ¥87,066,220.75 in the previous year[58] - The net cash flow from operating activities for Q1 2020 was ¥20,616,976.71, compared to a negative cash flow of ¥15,218,254.38 in Q1 2019, indicating a turnaround in operational performance[58] - Cash and cash equivalents decreased significantly to ¥399,891,313.35 from ¥932,775,762.86, a decline of approximately 57%[45] - Cash and cash equivalents at the end of Q1 2020 stood at ¥890,582,546.85, down from ¥1,077,669,865.19 at the end of Q1 2019, reflecting a decrease of approximately 17.3%[60] Assets and Liabilities - Total assets increased by 3.71% to CNY 2,850,535,600.11 compared to the end of the previous year[10] - Cash and cash equivalents decreased by 32.30% to RMB 1,095.08 million as of March 31, 2020, primarily due to cash management activities[23] - Trade receivables increased by 67.99% to RMB 139.27 million, attributed to sales growth and the implementation of new revenue recognition standards[23] - The total current liabilities were reported at CNY 293.04 million, an increase from CNY 249.32 million, indicating a rise of approximately 17.5%[39] - The company's total assets amounted to approximately CNY 2.85 billion, an increase from CNY 2.75 billion at the end of 2019[36] - The company's accounts receivable increased to CNY 139.27 million, up from CNY 82.90 million in 2019, representing a growth of approximately 68%[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,145[15] - The top shareholder, Hongrun Capital Management Co., Ltd., held 29.24% of the shares[15] Research and Development - R&D investment as a percentage of operating revenue decreased by 4.59 percentage points to 38.66%[10] - Research and development expenses for the first quarter of 2020 amounted to CNY 63,833,820.01, up from CNY 54,511,348.14 in the same quarter of 2019, indicating a rise of approximately 17%[51] Legal and Regulatory Matters - The company is currently involved in a lawsuit concerning the sale of shares in its subsidiary, ArcSoft US, with claims of legal violations by the defendants[30] - The company executed the new revenue recognition standards starting January 1, 2020, impacting the financial reporting[71] Investment Activities - The company has invested RMB 7.01 million in Hangzhou Dengtong Technology Co., Ltd., contributing to a 42.69% increase in long-term equity investments[23] - The company received ¥518,000,000.00 from the recovery of investments in Q1 2020, indicating strong investment recovery efforts[58]