LME(SH:688589)2024-04-15 10:46Financial Performance - The company's revenue for Q1 2024 reached ¥129,861,404.65, representing a year-on-year increase of 17.09%[6] - Net profit attributable to shareholders was ¥23,356,519.68, reflecting a growth of 9.50% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was ¥21,261,355.40, with a year-on-year increase of 7.54%[9] - Basic and diluted earnings per share were both ¥0.23, an increase of 9.52% year-on-year[9] - Operating profit for Q1 2024 was ¥25,744,960.81, up from ¥23,757,463.45 in Q1 2023, reflecting a growth of 8.3%[43] - Net profit for Q1 2024 was ¥23,356,519.68, compared to ¥21,329,572.52 in Q1 2023, representing an increase of 9.5%[43] - Research and development expenses for Q1 2024 amounted to ¥18,566,472.77, up from ¥16,225,575.48 in Q1 2023, indicating a growth of 14.4%[40] - The company reported a decrease in total operating costs to ¥102,589,782.69 in Q1 2024 from ¥98,021,162.66 in Q1 2023, reflecting a rise of 4.8%[40] Cash Flow and Liquidity - The net cash flow from operating activities was ¥4,118,398.35, showing a significant decrease of 92.89% compared to the previous year[9] - Cash flow from operating activities for Q1 2024 was ¥4,118,398.35, a decrease of 92.9% from ¥57,936,662.41 in Q1 2023[49] - The net cash flow from financing activities was -$7,324,088.08, compared to -$1,269,021.09 in the previous period, indicating a significant increase in cash outflows[53] - The net increase in cash and cash equivalents was -$252,188,266.36, compared to a positive increase of $37,688,679.47 in the prior period[53] - The beginning balance of cash and cash equivalents was $860,088,201.59, while the ending balance decreased to $607,899,935.23[53] - The company’s cash and cash equivalents decreased from RMB 896.46 million as of December 31, 2023, to RMB 644.45 million as of March 31, 2024, representing a decline of approximately 28.14%[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,459,135,609.89, up 1.05% from the end of the previous year[9] - The total assets increased from RMB 1.44 billion as of December 31, 2023, to RMB 1.46 billion as of March 31, 2024, reflecting a growth of about 1.5%[30] - The total liabilities decreased from RMB 435.03 million to RMB 426.58 million, a reduction of about 1.07%[36] - The company’s long-term borrowings remained stable at approximately RMB 291.33 million as of March 31, 2024[36] - The company’s total equity increased slightly from RMB 1.01 billion to RMB 1.03 billion, indicating a growth of about 1.98%[36] Research and Development - R&D investment totaled ¥19,299,508.28, accounting for 14.86% of revenue, which is an increase of 0.23 percentage points[9] - The increase in revenue was primarily driven by the expansion of chip-related products in the power grid market, including applications in electricity information collection and low-voltage distribution networks[14] Share Repurchase - As of March 31, 2024, the company has repurchased a total of 103,755 shares, accounting for 0.10% of the total share capital, with a total expenditure of RMB 3.2053 million[23] - The highest repurchase price was RMB 31.97 per share, while the lowest was RMB 30.28 per share[23] Other Comprehensive Income - Other comprehensive income after tax for Q1 2024 was ¥162.13, compared to a loss of ¥14,207.46 in Q1 2023, indicating a significant recovery[43] Accounting Standards - The company is not applying new accounting standards or interpretations for the first time in 2024[53]