G-bits(SH:603444)2024-04-23 09:34Financial Performance - The net profit attributable to shareholders for Q1 2024 was ¥253,363,007.32, representing a decrease of 17.35% year-on-year [23]. - The company's operating income for Q1 2024 was ¥927,265,003.93, down 18.97% compared to the same period last year [23]. - The adjusted net profit attributable to shareholders decreased by 33.54% year-on-year, reflecting the exclusion of foreign exchange fluctuations and investment business impacts [31]. - The net profit attributable to shareholders in Q1 2024 was ¥253,363,007.32, down from ¥265,809,989.20 in Q4 2023 [52]. - The company's operating profit for Q1 2024 was CNY 350,099,319.91, compared to CNY 457,269,364.84 in Q1 2023, indicating a decline of approximately 23.4% [73]. - Total revenue from sales and services received in Q1 2024 was CNY 982,001,615.01, down from CNY 1,173,421,177.05 in Q1 2023, a decrease of about 16.3% [75]. - Operating profit for Q1 2024 was $125.97 million, a decrease of 48.7% compared to $245.85 million in Q1 2023 [112]. - Total profit for Q1 2024 was $125.84 million, down 48.7% from $245.68 million in Q1 2023 [112]. - Net profit for Q1 2024 was $117.53 million, a decline of 50.0% compared to $234.98 million in Q1 2023 [112]. - Comprehensive income for Q1 2024 totaled $117.53 million, a decrease of 50.0% from $234.98 million in Q1 2023 [112]. Assets and Liabilities - As of March 31, 2024, the total assets of the company reached ¥7,008,738,260.96, an increase of 5.60% compared to the end of 2023 [8]. - The total equity attributable to shareholders increased to ¥4,706,365,226.48, a rise of 5.43% compared to the end of 2023 [8]. - The total liabilities increased to CNY 1,472,962,732.57 as of March 31, 2024, compared to CNY 1,389,162,790.66 as of December 31, 2023, reflecting a growth of approximately 6% [68]. - The company's total current liabilities decreased to CNY 145,010,228.96 as of March 31, 2024, from CNY 160,613,605.92 at the end of 2023, a reduction of about 9.7% [103]. - The company's total equity increased to CNY 3,161,693,873.02 as of March 31, 2024, compared to CNY 3,058,413,227.25 at the end of 2023, reflecting a growth of about 3.4% [105]. Cash Flow - The net cash flow from operating activities decreased by ¥15,015,700 (6.11%) year-on-year, with cash inflows down by ¥209 million (16.98%) and cash outflows down by ¥194 million (19.69%) [13]. - The net cash flow from operating activities in Q1 2024 was ¥230,570,533.67, a decrease from ¥360,941,898.80 in Q4 2023, primarily due to year-end bonuses paid [52][54]. - The net cash flow from financing activities decreased by 67.83% year-on-year, totaling approximately -¥17.83 million, due to share buybacks [39]. - Cash and cash equivalents as of March 31, 2024, were ¥2,332,338,242.26, down from ¥2,397,018,382.09 at the end of 2023 [65]. - Cash inflow from investment activities in Q1 2024 was ¥1,254,215,656.10, compared to ¥861,835,021.78 in Q1 2023, representing a significant increase [98]. - Net cash flow from investment activities was -¥287,984,114.19 in Q1 2024, an improvement from -¥320,808,524.32 in Q1 2023 [98]. Revenue and Expenses - The company's first quarter revenue from the "Wandao" online game increased compared to the previous quarter [33]. - Several new products launched in the first quarter, including "Immortal Family" and "Monster Never Cry (European and American version)," contributing to incremental revenue [33]. - The company launched new games in Q1 2024, including "Immortal Family" and "Monster Never Cry (European and American version)," contributing to deferred revenue recognition [15]. - The company's financial expenses decreased by 520.45% year-on-year, attributed to gains from exchange rate fluctuations [56]. - Total operating costs for Q1 2024 were ¥648,112,427.82, down 15.34% from ¥765,468,516.49 in Q1 2023 [93]. - R&D expenses increased to ¥185,749,976.17 in Q1 2024, up 6.93% from ¥174,402,217.35 in Q1 2023 [93]. - The company reported a decrease in sales expenses to ¥293,654,313.14 in Q1 2024, down from ¥354,391,066.60 in Q1 2023, indicating a reduction of 17.09% [93]. Market and Growth Strategy - The company plans to continue expanding its market presence and developing new products to drive future growth [35]. - The company is focusing on expanding its market presence and enhancing product offerings through new game releases and promotional events [52]. - The overseas game business generated total revenue of ¥139 million in Q1 2024, a significant increase of 146.68% year-on-year [25]. Employee and Compensation - The average monthly employee count increased to approximately 1,472, up about 180 employees (13.93%) year-on-year, with a notable increase in R&D personnel [26]. - The company reported a decrease in the average employee compensation due to reduced performance-based bonuses, despite an overall increase in related expenses [28].