FHEC(SH:688362)2024-04-18 11:16Financial Performance - The company achieved operating revenue of RMB 726,608,017.68 in Q1 2024, representing a year-on-year increase of 71.11%[8] - The net profit attributable to shareholders was a loss of RMB 35,450,368.36, but this reflects an improvement of 28.91% compared to the same period last year[8] - The overall gross margin for Q1 2024 was 14.23%, an increase of 5.84 percentage points year-on-year[8] - Total operating revenue for Q1 2024 reached ¥726,608,017.68, a significant increase of 71.2% compared to ¥424,645,413.14 in Q1 2023[24] - Net loss for Q1 2024 was ¥48,666,954.12, an improvement from a net loss of ¥57,739,988.14 in Q1 2023, representing a reduction of 15.5%[25] - The total comprehensive loss for Q1 2024 was ¥48,666,954.12, compared to a comprehensive loss of ¥57,739,988.14 in Q1 2023, indicating a 15.5% improvement[26] Research and Development - Research and development expenses totaled RMB 44,452,271.38, up 58.04% from the previous year, accounting for 6.12% of operating revenue[8] - Research and development expenses increased to ¥44,452,271.38 in Q1 2024, up 58.2% from ¥28,128,058.78 in Q1 2023[25] Cash Flow and Liquidity - The cash flow from operating activities was RMB 200,813,279.60, indicating a positive cash flow situation[8] - Operating cash flow for Q1 2024 was ¥200,813,279.60, a turnaround from a negative cash flow of ¥1,017,056.85 in Q1 2023[28] - Cash and cash equivalents increased to RMB 2,052,002,308.08 from RMB 1,965,383,785.36, representing a rise of about 4.41%[20] - Cash received from sales of goods and services in Q1 2024 was ¥785,795,600.62, up from ¥408,588,087.91 in Q1 2023, reflecting a growth of 92.0%[28] - Cash and cash equivalents at the end of the period amounted to $1.12 billion, compared to $1.01 billion at the end of the previous period, showing a slight increase in liquidity[29] - The initial cash and cash equivalents balance was $1.32 billion, showing a strong starting position for the quarter[29] Assets and Liabilities - Total assets at the end of Q1 2024 were RMB 13,127,053,438.40, a 6.46% increase from the end of the previous year[8] - As of March 31, 2024, the total assets of the company amounted to RMB 13,127,053,438.40, an increase from RMB 12,330,906,165.46 as of December 31, 2023, reflecting a growth of approximately 6.43%[20] - Total current liabilities increased to RMB 2,998,322,234.98 from RMB 2,513,124,961.81, marking an increase of approximately 19.26%[21] - Long-term borrowings rose to RMB 3,880,017,013.09 from RMB 3,566,938,155.15, reflecting an increase of about 8.75%[21] - The company's total liabilities increased to RMB 6,878,339,248.07 from RMB 6,079,063,116.96, reflecting a rise of about 13.14%[21] - The total liabilities as of Q1 2024 amounted to ¥9,205,763,435.22, an increase of 10.5% from ¥8,333,159,686.53 in Q1 2023[22] Strategic Plans - The company plans to continue focusing on major clients and expand cooperation with leading design firms in Taiwan to enhance competitiveness and market share[9] - New product lines such as Bumping, CP, wafer-level packaging, and FC-BGA will be steadily advanced to improve process capabilities and customer service[9] - The company expects operating revenue to maintain a growth trend in Q2 2024 through continuous optimization of market and product strategies[9] Shareholder Information - The company has not reported any significant changes in the top ten shareholders or their participation in financing activities during the reporting period[17] - The total equity attributable to shareholders of the parent company decreased to ¥2,385,357,614.63 in Q1 2024 from ¥2,448,597,504.62 in Q1 2023, a decline of 2.6%[22] - The company reported a basic and diluted earnings per share of -¥0.09 for Q1 2024, compared to -¥0.12 in Q1 2023[26] Investment Activities - The net cash flow from investing activities was -$885.41 million, compared to -$629.18 million in the previous period, indicating a significant increase in cash outflow for investments[29] - The company received $400 million from minority shareholders as part of investment activities, indicating ongoing support from investors[29] - Total cash outflow for investment activities was $885.41 million, which is a significant increase compared to $629.18 million in the prior year[29] Financing Activities - Cash inflow from financing activities totaled $1.28 billion, up from $1.12 billion year-over-year, reflecting strong capital raising efforts[29] - The net cash flow from financing activities was $486.61 million, a decrease from $778.98 million in the previous period, suggesting reduced net financing[29] - Debt repayment cash outflow was $672.09 million, significantly higher than $273.67 million in the previous period, reflecting increased debt servicing[29] - The company distributed $40.94 million in dividends and interest payments, up from $26.32 million, indicating a commitment to returning value to shareholders[29]