Ingenic(300223)2024-04-24 11:11Financial Performance - The company's revenue for Q1 2024 was CNY 1,007,095,092.34, a decrease of 5.80% compared to CNY 1,069,146,900.89 in the same period last year[3] - Net profit attributable to shareholders was CNY 87,259,945.64, down 23.90% from CNY 114,665,230.84 year-on-year[3] - Total operating revenue for Q1 2024 was CNY 1,007,095,092.34, a decrease of 5.8% compared to CNY 1,069,146,900.89 in Q1 2023[16] - Net profit for Q1 2024 was CNY 87,255,226.99, a decline of 21% from CNY 110,532,164.55 in Q1 2023[17] - The total comprehensive income attributable to the parent company for Q1 2024 was ¥18,199,629.73, down from ¥59,197,992.71 in Q1 2023, indicating a decrease of about 69.3%[18] - The basic and diluted earnings per share for Q1 2024 were both ¥0.1812, compared to ¥0.2381 in the previous year, reflecting a decline of approximately 24%[18] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 60,745,713.05, a decline of 58.77% compared to -CNY 38,260,270.69 in the previous year[3] - Cash inflows from operating activities totaled ¥1,040,268,003.81 in Q1 2024, down from ¥1,136,077,514.91 in Q1 2023, a decrease of about 8.4%[20] - The net cash flow from operating activities for Q1 2024 was -¥60,745,713.05, compared to -¥38,260,270.69 in the same period last year, indicating a worsening cash flow situation[20] - The company's cash and cash equivalents decreased to ¥3,564,280,131.78 from ¥3,927,271,066.93, reflecting a decline of approximately 9.3%[13] - The cash and cash equivalents at the end of Q1 2024 were ¥3,561,756,509.71, a decrease from ¥3,271,315,558.32 at the end of Q1 2023, reflecting a decline of about 8.8%[21] - The company reported a net increase in cash and cash equivalents of -¥362,890,620.78 for Q1 2024, compared to -¥126,749,965.12 in Q1 2023, indicating a worsening cash position[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,668,276,046.12, a decrease of 0.58% from CNY 12,742,026,939.41 at the end of the previous year[3] - Total liabilities decreased to CNY 820,978,516.47 from CNY 912,503,963.52, reflecting a reduction of 10%[15] - Accounts receivable rose to CNY 439,341,986.72, compared to CNY 403,348,797.21 in the previous year, marking an increase of 8.9%[14] - Inventory decreased slightly to CNY 2,385,736,228.66 from CNY 2,404,780,777.28, a reduction of 0.8%[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 74,515, with the largest shareholder holding 12.57% of the shares[8] - The total number of restricted shares at the end of the period was 61,979,312, down from 65,801,522, indicating a reduction of about 4.4%[11] - Liu Qiang holds 30,356,658 restricted shares, which remain unchanged during the period, representing 8.4% of total shares[11] - The company reported a significant shareholder concentration, with the top 10 shareholders holding a total of 60,546,704 shares, accounting for 9.06% of total shares[10] - The total number of shares held by the top 10 unrestricted shareholders is 60,546,704, which is a significant portion of the company's equity[10] Operational Highlights - The sales revenue of computing chips increased by 13.31% to CNY 240,293,400.00, while storage chip sales decreased by 12.96% to CNY 640,518,800.00[6] - The company reported a significant increase in other income, which rose by 167.37% to CNY 6,960,200.00 due to increased government subsidies[6] - The company experienced a 40.63% increase in taxes payable, amounting to CNY 34,980,400.00, primarily due to accrued income tax and VAT[6] - Research and development expenses increased to CNY 180,486,827.22, up from CNY 164,499,875.81, indicating a growth of 9.7% year-over-year[17] Strategic Outlook - The company plans to focus on expanding its product lines in consumer markets while addressing inventory pressures in industrial and medical sectors[5] - The company has not disclosed any new product developments or technological advancements in this quarter[12] - There were no new strategies or market expansions mentioned in the earnings call[12] - The company did not report any mergers or acquisitions during this period[12] - The financial report indicates that there were no changes in the participation of major shareholders in margin trading activities[10] - The company has not provided specific future guidance or performance outlook for the upcoming quarters[12]