Lion(SH:605358)2024-04-22 12:58Financial Performance - The company's operating revenue for Q1 2024 was CNY 67,906.44 million, representing a year-on-year increase of 7.41%[12] - The net profit attributable to shareholders was CNY -6,315.14 million, a decline of 283.38% compared to the same period last year[12] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -4,936.15 million, reflecting a decrease of 310.12% year-on-year[12] - The basic earnings per share were CNY -0.09, reflecting a decrease of 280.00% year-on-year[12] - The company reported a net loss of ¥93.66 million for Q1 2024, compared to a net profit of ¥18.29 million in Q1 2023, representing a significant decline[40] - Operating profit turned negative at ¥-128.89 million in Q1 2024, down from a profit of ¥8.13 million in the same period last year[40] - Net profit attributable to shareholders of the parent company for Q1 2024 was a loss of approximately ¥63.15 million, compared to a profit of ¥34.44 million in Q1 2023[50] Cash Flow and Liquidity - The net cash flow from operating activities increased by CNY 36,196.42 million, a significant rise of 273.23% compared to the previous year[12] - Net cash flow from operating activities for Q1 2024 was approximately ¥361.96 million, significantly up from ¥96.98 million in Q1 2023[55] - Cash inflow from operating activities totaled approximately ¥906.39 million in Q1 2024, compared to ¥702.49 million in Q1 2023[55] - The ending balance of cash and cash equivalents as of Q1 2024 was approximately ¥2.15 billion, down from ¥2.92 billion at the end of Q1 2023[56] - The company reported a significant increase in cash received from other operating activities, totaling approximately ¥112.79 million in Q1 2024, compared to ¥13.69 million in Q1 2023[55] - Net cash flow from financing activities for Q1 2024 was approximately ¥191.61 million, a recovery from a net outflow of ¥226.93 million in Q1 2023[56] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,860,101.99 million, an increase of 1.78% from the end of the previous year[13] - Total assets increased to ¥18.60 billion as of March 31, 2024, compared to ¥18.28 billion at the end of 2023, reflecting a growth of approximately 1.8%[36] - Current assets totaled ¥5.73 billion, slightly down from ¥5.76 billion at the end of 2023, indicating a decrease of about 0.6%[36] - Non-current assets rose to ¥12.88 billion, up from ¥12.52 billion, marking an increase of approximately 3.0%[36] - Total liabilities rose to ¥9.21 billion, compared to ¥8.73 billion at the end of 2023, indicating an increase of about 5.5%[37] - The company's equity attributable to shareholders decreased to ¥7.85 billion from ¥7.97 billion, a decline of approximately 1.5%[37] Shareholder Information - The company had a total of 78,016 common shareholders at the end of the reporting period[27] - The top shareholder, Wang Minwen, held 117,831,266 shares, accounting for 17.41% of the total shares[27] Sales and Market Performance - The company achieved a significant increase in product sales, with 6-inch equivalent silicon wafer sales reaching 3.1118 million pieces, a year-on-year growth of 45.47% and a quarter-on-quarter growth of 14.44%[31] - The 12-inch silicon wafer sales amounted to 171,400 pieces (equivalent to 685,600 pieces of 6-inch), representing a year-on-year increase of 71.62%[31] - The sales volume of power device chips was 418,700 pieces, showing a year-on-year growth of 4.50% but a quarter-on-quarter decline of 2.30%[31] - The sales volume of compound RF chips reached 9,000 pieces, marking a remarkable year-on-year growth of 387.72%[31] Expenses and Costs - The company's sales expenses rose by 60.15%, amounting to an increase of CNY 161.08 million, primarily due to higher sample costs[7] - The overall gross margin decreased significantly due to increased depreciation costs of 67.0605 million RMB from production expansion projects and a reduction in sales prices for silicon and power chip products[31] - Research and development expenses were ¥62.83 million, slightly down from ¥65.32 million in Q1 2023, showing a decrease of about 7.6%[40] Government Subsidies - The company received government subsidies amounting to 7,584,779.93 RMB, which are closely related to its normal business operations[23] - The company reported a significant increase in other income by 485.23%, totaling CNY 5,195.41 million, mainly from government subsidies[7] Other Financial Information - The company reported a fair value loss of 21.8375 million RMB from the fluctuation in stock prices of listed companies held[31] - The company's short-term borrowings increased by CNY 15,973.98 million, a rise of 33.25% compared to the beginning of the period[7] - Short-term borrowings increased to ¥640.23 million, up from ¥480.49 million, reflecting a rise of approximately 33.3%[36] - Total operating revenue for Q1 2024 was approximately ¥679.06 million, an increase of 7.4% compared to ¥632.24 million in Q1 2023[50] - Cash outflow from investing activities in Q1 2024 was approximately ¥971.11 million, compared to ¥715.74 million in Q1 2023[56] Mergers and Acquisitions - The company did not execute any mergers or acquisitions during the reporting period[53]