中颖电子(300327) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 318,823,193.67, representing a 10.33% increase compared to CNY 288,962,361.45 in the same period last year[5] - Net profit attributable to shareholders decreased by 8.83% to CNY 31,165,741.60 from CNY 34,183,949.98 year-on-year[5] - The net profit after deducting non-recurring gains and losses increased by 40.94% to CNY 29,378,630.60, up from CNY 20,845,421.81 in the previous year[5] - The company achieved operating revenue of 318.82 million RMB, representing a year-on-year growth of 10.3%[20] - The net profit attributable to shareholders decreased by 8.8% year-on-year to 31.17 million RMB, primarily due to a reduction in non-recurring government subsidies[20] - The net profit after deducting non-recurring gains and losses was 29.38 million RMB, reflecting a year-on-year increase of 40.9%[20] - The overall expense changes were minimal, despite the increase in sales, leading to a slight decrease in net profit attributable to shareholders due to lower gross margins[20] - The company reported a total comprehensive income of ¥23,964,426.68, down from ¥27,842,153.03 in the previous period[29] - Basic earnings per share decreased to ¥0.0904 from ¥0.1010 in the previous period[29] Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 28,962,802.98, a 156.56% increase from a negative CNY 51,208,174.56 in the same quarter last year[5] - The net cash flow from investment activities was negative CNY 23,384,243.89, a decrease of 164.64% from a positive CNY 36,178,151.10 in the same period last year[12] - Cash flow from operating activities generated a net amount of ¥28,962,802.98, recovering from a negative cash flow of ¥51,208,174.56 in the previous period[32] - Cash and cash equivalents at the end of the period totaled ¥153,788,696.36, down from ¥199,565,279.03 at the end of the previous period[33] - The company's total assets as of March 31, 2024, amounted to CNY 2.14 billion, a decrease from CNY 2.18 billion at the beginning of the year[26] - Total liabilities decreased to CNY 335.28 million from CNY 407.43 million at the beginning of the year, indicating improved financial health[26] - The company's retained earnings increased to CNY 805.93 million from CNY 778.42 million, reflecting positive profit retention[27] Research and Development - Research and development expenses amounted to 75.08 million RMB, an increase of 6.7% compared to the previous year[20] - R&D investment reached CNY 75.08 million in Q1 2024, accounting for 23.6% of revenue, with a total of 125 valid patents held by the company and its subsidiaries[23] - The company is committed to maintaining its R&D investment to drive innovation and competitiveness in the market[20] Market Outlook and Strategy - The company continues to focus on market expansion and product development strategies to enhance future performance[20] - Future outlook includes strategic initiatives aimed at improving profitability and market share[20] - The company aims to increase its market share in the smart home appliance MCU sector, which is currently dominated by international brands, with significant potential for domestic replacement[22] - The lithium battery management chip market is expected to grow, with the company maintaining a leading position domestically, driven by increasing demand for portable applications[22] - The AMOLED display driver chip market is projected to expand, with the penetration rate of AMOLED screens in smartphones exceeding 50% globally in 2023, and further growth anticipated[22] Inventory and Costs - The company's inventory net amount decreased to CNY 688.58 million, a reduction of CNY 21.4 million from the previous quarter, with expectations for a significant decline in inventory throughout the year[21] - Total operating costs amounted to ¥301,570,379.63, up 14.48% from ¥263,461,226.72 in the prior period[28] - Financial expenses showed a significant increase of 109.97%, resulting in a cost of CNY -2,404,544.47, compared to CNY -1,145,184.72 last year[11] - The company reported a 40.85% increase in tax and additional charges, totaling CNY 1,874,877.42, compared to CNY 1,331,128.81 in the previous year[11] Sales Performance - In Q1 2024, the company's sales experienced a year-on-year growth, although there was a slight quarter-on-quarter decline due to seasonal factors, with a gross margin of 33.9%, down 5% year-on-year[21] - The company expects sales in Q2 2024 to outperform Q1 2024, driven by seasonal demand recovery[21]