Foxit Software(SH:688095)2023-10-29 16:00Financial Performance - The company's operating revenue for Q3 2023 was approximately ¥156.42 million, representing a year-over-year increase of 10.35%[3]. - The net profit attributable to shareholders was a loss of approximately ¥13.87 million, with a significant year-over-year decrease of 870.32%[3]. - Subscription revenue reached approximately ¥147.62 million, marking a substantial year-over-year growth of 70.92%[9]. - The Annual Recurring Revenue (ARR) for subscription services was approximately ¥213 million, reflecting a growth of about 53% compared to the previous year[9]. - Revenue from agency channels reached approximately ¥146 million, a year-over-year increase of 21%, accounting for 32.89% of total revenue[12]. - The North American market accounted for 57.68% of total revenue, with subscription revenue growth of 76.61% year-over-year[11]. - Total operating revenue for the first three quarters of 2023 reached ¥442.52 million, an increase of 3.95% compared to ¥426.84 million in the same period of 2022[34]. - The net profit for the third quarter of 2023 was a loss of ¥61.33 million, compared to a profit of ¥7.92 million in the same quarter of 2022, representing a significant decline[36]. - The company recorded a total comprehensive income of -¥51.74 million for the third quarter of 2023, compared to ¥25.56 million in the same quarter of 2022[37]. Research and Development - Research and development expenses totaled approximately ¥55.55 million in Q3 2023, an increase of 14.45% compared to the same period last year, accounting for 35.51% of operating revenue[5]. - Research and development expenses for the third quarter of 2023 amounted to ¥173.24 million, an increase of 25.67% from ¥137.88 million in the same period last year[35]. - The company's core product, the PDF editor, underwent a major upgrade in September 2023, integrating AIGC technology across multiple platforms[14]. - The company is actively investing in technology upgrades and new product development, leading to increased expenses during the period[18]. - The company is focusing on market expansion and research and development to drive future growth[17]. Cash Flow and Assets - The operating cash flow for the year-to-date was a net outflow of approximately ¥45.76 million, a decline of 337.96% year-over-year[7]. - The net cash flow from operating activities decreased by 337.96% due to increased market expansion efforts and higher employee compensation payments[17]. - Cash inflows from operating activities for the first three quarters of 2023 totaled ¥509.51 million, an increase of 11.43% from ¥457.38 million in the same period of 2022[39]. - The total current assets as of September 30, 2023, amounted to ¥2,406,715,700.21, a decrease from ¥2,456,731,040.17 at the end of 2022[29]. - The company's total assets as of September 30, 2023, were ¥3,024,332,866.13, slightly down from ¥3,044,287,816.17 at the end of 2022[30]. - The total liabilities as of the end of the third quarter of 2023 were ¥414.94 million, an increase from ¥382.54 million at the end of the previous year[35]. - The total equity attributable to shareholders of the parent company was ¥2.61 billion, a slight decrease from ¥2.66 billion in the previous year[35]. - The company reported an increase in cash and cash equivalents to ¥625,825,702.86 as of September 30, 2023, compared to ¥328,686,593.49 at the end of 2022[29]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,301[21]. - The top shareholder, Xiong Yuqian, holds 36,410,668 shares, representing 39.80% of the total shares[22]. - The company has a share repurchase account holding 3,036,758 shares, accounting for 3.32% of the total share capital[22]. - The company adjusted the grant price of the 2021 restricted stock incentive plan from ¥131.35 to ¥93.46 per share, increasing the number of shares granted from 910,490 to 1,274,686 shares[23]. - The grant price for the 2022 restricted stock incentive plan was adjusted from ¥47.44 to ¥33.53 per share, with the initial grant quantity increased from 1,664,200 to 2,329,880 shares[23]. - As of September 30, 2023, the company completed the registration of 550,487 shares for the first vesting period of the 2022 restricted stock incentive plan, involving 164 incentive recipients[26]. - The company repurchased a total of 52,512 shares, accounting for 0.06% of the total share capital, with a total payment of ¥4.3494 million[27]. - The company has recognized a total of 630,191 shares for the first vesting period of the 2022 restricted stock incentive plan, with 170 recipients meeting the vesting conditions[24]. Government Support and Awards - The company received government subsidies amounting to 243 million RMB during the reporting period, contributing to a total of 2,162.06 million RMB year-to-date[16]. - The company received the "AIGC 2023 Annual New Force Enterprise" award, recognizing its innovation in the AIGC and office application space[14]. Investment Activities - The company reported a significant loss in investment income due to decreased profits from joint ventures[18]. - Cash inflow from investment activities was $4,911,088,796.93, down from $5,195,809,701.64 year-over-year[40]. - The net cash flow from investment activities increased to $356,140,896.84 from $113,854,371.06 in the previous year[40]. - The net cash flow from financing activities was -$23,288,504.87, compared to -$223,677,565.01 in the same period last year[41]. - The company paid $350,293,345.87 in employee-related cash payments, an increase from $266,993,800.69 in the previous year[40]. - Cash paid for taxes was $28,009,028.88, compared to $24,460,000.57 in the same period last year[40]. - Cash inflow from other investment activities was $2,019,831.34, significantly up from $584,517.63 year-over-year[40]. - The company reported a cash inflow of $18,459,813.82 from financing activities, with cash outflow for dividends and interest payments totaling $31,521,470.48[40].