福昕软件(688095) - 2023 Q1 - 季度财报

Financial Performance - The company reported a revenue of CNY 144.42 million for Q1 2023, representing a year-over-year increase of 3.01%[4] - The net profit attributable to shareholders was CNY -11.34 million, a decrease of 327.42% compared to the same period last year[5] - The net cash flow from operating activities was CNY -34.52 million, reflecting a decline of 311.28% year-over-year[3] - Total operating revenue for Q1 2023 was CNY 144,424,332.94, a 3.1% increase from CNY 140,205,236.62 in Q1 2022[20] - Net profit for Q1 2023 was a loss of CNY 11,346,132.97, compared to a profit of CNY 4,961,474.17 in Q1 2022[23] - Operating profit for Q1 2023 was a loss of CNY 11,982,771.01, down from a profit of CNY 10,000,856.91 in Q1 2022[22] - Basic earnings per share for Q1 2023 were CNY -0.1794, compared to CNY 0.0756 in Q1 2022[23] - The net profit excluding non-recurring gains and losses dropped by 118.09%, with total employee compensation expenses increasing by CNY 1,983.33 million year-on-year[9] Cash Flow and Assets - Cash and cash equivalents as of March 31, 2023, amounted to CNY 606.34 million, up from CNY 328.69 million at the end of 2022[16] - Total current assets decreased to CNY 2,426.50 million from CNY 2,456.73 million at the end of 2022[16] - Accounts receivable increased to CNY 77.43 million from CNY 70.21 million at the end of 2022[16] - The cash inflow from operating activities was CNY 155,314,185.58, an increase of 4.3% compared to CNY 148,765,672.50 in Q1 2022[25] - The net cash flow from operating activities was -CNY 34,523,308.51, worsening from -CNY 8,394,177.28 in the same period last year[25] - The total cash outflow from operating activities was CNY 189,837,494.09, compared to CNY 157,159,849.78 in Q1 2022, representing an increase of 20.8%[25] - The cash inflow from sales of goods and services was CNY 148,104,893.14, up from CNY 139,827,355.71 in the previous year, indicating a growth of 5.5%[25] - The cash and cash equivalents at the end of Q1 2023 amounted to CNY 606,335,658.84, down from CNY 784,099,083.99 at the end of Q1 2022[26] Research and Development - Research and development expenses totaled CNY 56.68 million, accounting for 39.24% of revenue, an increase of 7.63 percentage points from the previous year[3] - Research and development expenses increased to CNY 56,675,527.09 in Q1 2023, compared to CNY 44,315,457.46 in Q1 2022, reflecting a 28% increase[22] - The company plans to continue expanding its market presence and investing in research and development to support its subscription transformation strategy[5] Subscription Business - The company's subscription revenue accounted for 30% of total revenue, up from 21% in 2022, marking a 66.77% increase year-over-year[4] - The annual recurring revenue (ARR) from subscription business reached CNY 160.32 million, a growth of 15.74% from the end of the previous year and 75.12% year-over-year[4] - The company achieved a subscription renewal rate of approximately 91% for its core PDF products during the reporting period[4] Market Position and Recognition - The company was ranked 30th in G2.com's "2023 Best Software Companies" list, highlighting its strong market position[6] - The overseas version of the PDF Editor Cloud product has successfully integrated AIGC technology, enhancing its functionality and user experience[6] - The company is actively expanding its market presence and increasing investments in research and development, sales, and management personnel[9] Liabilities and Equity - Total liabilities for Q1 2023 were CNY 369,267,490.01, a decrease from CNY 382,540,009.64 in Q1 2022[18] - The company's total equity as of Q1 2023 was CNY 2,654,551,299.08, down from CNY 2,661,747,806.53 in Q1 2022[18] - Total assets as of Q1 2023 were CNY 3,023,818,789.09, slightly down from CNY 3,044,287,816.17 at the end of Q1 2022[18] Other Financial Metrics - Other comprehensive income for Q1 2023 was a loss of CNY 3,226,111.26, compared to a loss of CNY 5,255,332.96 in Q1 2022[23] - The company reported a significant increase in cash inflow from sales, although the growth rate was slower due to smaller subscription order amounts[9] - The company received CNY 1,649,886,080.14 from investment recoveries, a decrease from CNY 1,726,981,837.45 in the same quarter last year[26] - The company reported a cash outflow of CNY 1,914,545.47 from financing activities, an improvement from CNY 131,527,746.28 in Q1 2022[26] - The net cash flow from investment activities was CNY 316,583,866.30, an increase of 25.6% from CNY 251,995,189.47 in Q1 2022[26] - The company did not report any net profit from the merged entity in the current and previous periods, remaining at CNY 0.00[24]