USISH(SH:601231)2024-04-24 08:22Financial Performance - The company's operating revenue for Q1 2024 was CNY 13,491,928,720.52, representing a year-on-year increase of 3.80%[6] - The net profit attributable to shareholders for the same period was CNY 334,683,660.30, reflecting a significant increase of 20.63% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 286,600,179.96, which is an increase of 30.46% year-on-year[6] - The basic earnings per share for Q1 2024 were CNY 0.15, up by 15.38% year-on-year[6] - Operating profit for Q1 2024 was ¥383.44 million, up 27% from ¥302.39 million in Q1 2023[25] - Net profit attributable to shareholders for Q1 2024 was ¥334.68 million, compared to ¥277.46 million in Q1 2023, representing a 20.6% increase[26] - The company reported a total comprehensive income of ¥215.26 million for Q1 2024, slightly down from ¥221.05 million in Q1 2023[26] Cash Flow and Assets - The net cash flow from operating activities decreased by 54.98%, amounting to CNY 1,146,121,777.94, primarily due to increased procurement payments[6][8] - Cash flow from operating activities for Q1 2024 was ¥1.15 billion, down 55% from ¥2.55 billion in Q1 2023[29] - The company's cash and cash equivalents increased to RMB 12,733,346,091.77 as of March 31, 2024, from RMB 11,218,698,389.32 at the end of 2023[21] - Cash and cash equivalents at the end of Q1 2024 totaled ¥12.60 billion, an increase from ¥9.97 billion at the end of Q1 2023[29] - Total assets at the end of Q1 2024 were CNY 39,067,529,759.79, a decrease of 0.61% from the end of the previous year[7] - As of March 31, 2024, total assets amounted to RMB 39,067,529,759.79, a slight decrease from RMB 39,306,382,898.66 as of December 31, 2023[21] - Total liabilities as of March 31, 2024, were RMB 21,755,503,676.16, compared to RMB 22,216,553,711.45 at the end of 2023[22] Revenue by Segment - The communication product segment generated RMB 464,293.99 million in Q1 2024, up 1.47% from RMB 457,556.33 million in Q1 2023[16] - The cloud and storage product category saw significant growth, with revenue increasing by 41.26% to RMB 155,169.34 million in Q1 2024 from RMB 109,843.81 million in Q1 2023[16] - The automotive electronics segment also performed well, with a revenue increase of 37.73% to RMB 162,868.19 million in Q1 2024 compared to RMB 118,250.11 million in Q1 2023[16] Government Support and R&D - The company received government subsidies amounting to CNY 5,710,588.57, which are closely related to its normal business operations[8] - R&D expenses increased to ¥429.38 million in Q1 2024, up from ¥399.12 million in Q1 2023, reflecting a focus on innovation[25] Other Financial Metrics - The weighted average return on equity increased by 0.21 percentage points to 1.96%[6] - The impact of Purchase Price Allocation (PPA) on gross profit for Q1 2024 was RMB 700.42 million, down from RMB 952.28 million in Q1 2023[18] - The company reported a net profit impact from PPA of RMB 740.72 million in Q1 2024, compared to RMB 954.01 million in Q1 2023[18] - The company experienced a foreign exchange loss of ¥154.95 million in Q1 2024, compared to a loss of ¥26.17 million in Q1 2023[26] - Investment activities resulted in a net cash outflow of ¥330.16 million in Q1 2024, compared to a net outflow of ¥226.99 million in Q1 2023[29] Future Outlook - The company expects Q2 2024 revenue to remain stable compared to Q1 2024, but anticipates a slight decrease in operating profit margin due to increased consolidated operating costs[18]