洲明科技(300232) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥1,492,251,546.40, a decrease of 8.31% compared to ¥1,627,563,132.29 in the same period last year[5] - Net profit attributable to shareholders was ¥19,426,695.48, down 86.56% from ¥144,573,099.99 year-on-year[5] - The net cash flow from operating activities was -¥53,321,179.12, a decline of 140.18% compared to ¥132,713,373.99 in the previous year[5] - Basic and diluted earnings per share were both ¥0.02, representing an 84.62% decrease from ¥0.13 in the same period last year[5] - Total operating revenue for Q1 2024 was CNY 1,492,251,546.40, a decrease of 8.3% compared to CNY 1,627,563,132.29 in the same period last year[28] - Net profit attributable to the parent company was CNY 19,426,695.48, a decline of 86.6% from CNY 144,573,099.99 in the previous year[29] - The company reported a net cash outflow from operating activities of CNY -53,321,179.12, compared to a net inflow of CNY 132,713,373.99 in Q1 2023[32] - Basic earnings per share for Q1 2024 were CNY 0.02, down from CNY 0.13 in Q1 2023[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,297,182,220.91, a slight decrease of 0.11% from ¥10,308,985,070.37 at the end of the previous year[5] - The company’s total assets amounted to CNY 10,297,182,220.91, slightly down from CNY 10,308,985,070.37 at the end of the previous quarter[27] - The company’s total liabilities as of the end of Q1 2024 were approximately CNY 5.60 billion, showing a slight decrease from CNY 5.62 billion at the beginning of the quarter[26] - The company’s total equity attributable to shareholders was CNY 4,753,442,025.49, an increase of 0.5% from CNY 4,729,412,954.52[27] Expenses - Sales expenses increased by 17.10% to 232 million RMB, while R&D expenses rose by 10.72% to 84 million RMB in Q1 2024[16] - Research and development expenses increased to CNY 83,841,735.80, up 10.7% from CNY 75,722,197.71 in the same quarter last year[28] - The company reported a substantial increase in sales expenses due to strategic investments in the international market, which has impacted net profit[19] Income and Investments - Financial expenses decreased by 42.69% to ¥10,453,409.45, primarily due to exchange rate fluctuations[10] - Other income increased by 67.28% to ¥11,275,855.41, mainly due to an increase in government subsidies compared to the same period last year[10] - Investment income saw a significant decline of 289.30%, resulting in a loss of ¥87,245,934.14, attributed to reduced returns from joint ventures and foreign exchange rate changes[10] - The company recorded an investment loss of CNY -87,245,934.14, compared to a profit of CNY 46,089,631.13 in the same period last year[28] Orders and Market Strategy - In Q1 2024, the company achieved total revenue of 1.492 billion RMB, with a year-on-year decline attributed to longer delivery cycles for large customer orders[14] - The company secured new orders worth 1.743 billion RMB in Q1 2024, with a total backlog of 2.424 billion RMB at the end of the quarter, reflecting a year-on-year increase[13] - The company focused on a large customer strategy, enhancing order stability and revenue growth through long-term partnerships with major clients[18] - The total amount of new orders received in 2023 was 7.031 billion RMB, with a year-end backlog of 2.168 billion RMB[13] Production and Technology - The company has achieved a significant increase in Mini/Micro LED product shipments, ranking first in the industry for B-end brand companies, with a notable year-on-year growth in Q1 2024[21] - The company plans to expand its Mini/Micro LED production capacity from 3,000KK/month to 10,000KK/month by the end of 2024, with COB capacity at 4,000KK/month and MIP capacity at 6,000KK/month[21] - The company has implemented a new LED+AI product matrix, integrating LED display technology with artificial intelligence, enhancing product offerings and operational models[22] - The company has successfully addressed several technical challenges in the Mini/Micro LED field, ensuring consistent display quality and high yield rates[20] Cash Flow - The company’s cash and cash equivalents decreased from CNY 2.19 billion at the beginning of the quarter to CNY 1.86 billion by the end of Q1 2024[25] - The cash flow from financing activities showed a net outflow of ¥76,032,750.56 in Q1 2024, compared to a net inflow of ¥15,736,758.34 in Q1 2023[33] - The total cash and cash equivalents decreased by ¥283,870,064.64 in Q1 2024, while it increased by ¥114,863,887.77 in Q1 2023[33] - The ending balance of cash and cash equivalents was ¥1,413,341,703.32 at the end of Q1 2024, down from ¥1,443,046,891.61 at the end of Q1 2023[33] - The company paid ¥131,858,551.31 in cash for debt repayment in Q1 2024, compared to ¥242,267,413.94 in Q1 2023[33] - The cash paid for dividends, profits, or interest was ¥6,621,786.66 in Q1 2024, an increase from ¥3,799,801.84 in Q1 2023[33] - The impact of exchange rate changes on cash and cash equivalents was a positive ¥3,379,531.08 in Q1 2024, contrasting with a negative impact of ¥21,111,758.36 in Q1 2023[33] Corporate Governance - The company has not audited the Q1 2024 report[34] - The new accounting standards were first implemented in 2024, affecting the financial statements[34] - The company’s board of directors reported on April 22, 2024, regarding the Q1 performance[35]