ArcSoft(SH:688088)2024-04-18 12:20Financial Performance - The company's operating revenue for Q1 2024 was ¥183,929,058.24, representing a year-on-year increase of 13.93%[5] - The net profit attributable to shareholders for the same period was ¥34,165,336.48, reflecting a growth of 21.21% compared to the previous year[5] - Basic and diluted earnings per share were both ¥0.09, representing a 28.57% increase year-on-year[5] - The weighted average return on equity was 1.27%, an increase of 0.18 percentage points from the previous year[5] - Total revenue for Q1 2024 reached $183.93 million, up 13.93% from $161.43 million in Q1 2023[47] - Operating profit increased to $39.35 million, a rise of 21.00% compared to $32.52 million in the same period last year[47] - Net profit for Q1 2024 was $34.14 million, representing a 21.56% increase from $28.11 million in Q1 2023[48] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥16,554,162.85, a decline of 116.19% year-on-year, primarily due to a decrease in the recovery of accounts receivable[5][10] - Cash flow from operating activities showed a net outflow of $16.55 million, contrasting with a net inflow of $102.28 million in Q1 2023[50] - Cash and cash equivalents at the end of the period were 1,877,075,655.63, down from 1,926,472,283.85, a decrease of approximately 2.5%[34] - Total assets at the end of Q1 2024 were ¥3,046,124,875.85, down 2.39% from the end of the previous year[7] - The total assets decreased from 3,120,573,359.75 to 3,046,124,875.85, a decline of approximately 2.4%[45] Research and Development - Research and development (R&D) expenses totaled ¥92,997,506.90, accounting for 50.56% of operating revenue, which is an increase of 1.09 percentage points from the previous year[5] - Research and development expenses rose to $92.99 million, up 16.43% from $79.85 million in the previous year[47] Shareholder Equity and Liabilities - The equity attributable to shareholders increased to ¥2,699,719,917.89, marking a 1.01% rise compared to the previous year[7] - Total equity increased from 2,672,753,322.46 to 2,699,839,691.42, reflecting a growth of about 1.0%[26] - Total liabilities decreased from 447,820,037.29 to 346,285,184.43, a reduction of approximately 22.6%[26] Revenue Breakdown - Revenue from mobile intelligent terminal visual solutions was RMB 161.07 million, up 8.91% year-over-year[17] - Revenue from intelligent driving and other IoT visual solutions reached RMB 20.59 million, showing a significant increase of 84.37% year-over-year[17] Other Financial Activities - The company received government subsidies amounting to ¥1,186,297.47, which are closely related to its normal business operations[8] - The total non-recurring gains and losses amounted to ¥3,880,709.68 after tax, with significant contributions from non-operating income[9] - The company repurchased 439,000 shares, accounting for 0.11% of the total share capital, with a total expenditure of RMB 13.20 million[17] - A software licensing agreement was signed with a specific client for USD 45.79 million, including renewals and new product signings[19] - The subsidiary, Hongsoft (Shanghai) Multimedia Technology Co., Ltd., distributed dividends of RMB 85 million to its parent company[21] - The company plans to use repurchased shares for employee stock ownership plans or equity incentives[17] - The company has initiated a share buyback program with a budget between RMB 10 million and RMB 20 million, with a maximum buyback price of RMB 50.00 per share[17] Legal Matters - The company is currently involved in a legal case with ongoing appeals related to its subsidiary, ArcSoft Inc.[19]