2024-04-25 10:42Financial Performance - The total revenue for Q1 2024 reached RMB 30,578,301 thousand, representing a 4.93% increase compared to RMB 29,142,882 thousand in Q1 2023[4] - The net profit attributable to shareholders was RMB 2,740,979 thousand, up 3.74% from RMB 2,642,269 thousand in the same period last year[4] - The net profit after deducting non-recurring gains and losses was RMB 2,649,236 thousand, reflecting a 7.93% increase from RMB 2,454,518 thousand in Q1 2023[4] - The gross profit margin for Q1 2024 was approximately 42.3%, compared to 44.5% in Q1 2023, indicating a slight decline in profitability[15] - The company reported a significant increase in other income, which rose by 68.85% to RMB 856,207 thousand, primarily due to VAT rebate policies[7] Cash Flow and Liquidity - The net cash flow from operating activities increased by 28.25% to RMB 2,982,601 thousand, compared to RMB 2,325,584 thousand in the previous year[4] - In Q1 2024, ZTE Corporation reported cash inflow from operating activities of RMB 36,175,298 thousand, a slight decrease of 1.35% compared to RMB 36,669,666 thousand in Q1 2023[16] - The total cash and cash equivalents at the end of Q1 2024 stood at RMB 44,943,538 thousand, down from RMB 49,744,372 thousand at the end of Q1 2023[16] - The company experienced a net decrease in cash and cash equivalents of (RMB 6,069,629 thousand) in Q1 2024, compared to an increase of RMB 2,672,643 thousand in Q1 2023[16] - Cash and cash equivalents reached RMB 86.88 billion, up from RMB 78.54 billion at the end of 2023, indicating a significant liquidity improvement[13] Assets and Liabilities - Total assets as of March 31, 2024, amounted to RMB 208,466,634 thousand, a 3.74% increase from RMB 200,958,318 thousand at the end of 2023[4] - The total liabilities increased to RMB 137,217,281 thousand as of March 31, 2024, compared to RMB 132,626,873 thousand at the end of 2023[14] - The company reported a total of RMB 166.08 billion in current assets, up from RMB 158.50 billion at the end of 2023[13] - Accounts receivable decreased to RMB 19.82 billion from RMB 20.82 billion, reflecting improved collection efficiency[13] - Inventory levels increased to RMB 41.68 billion from RMB 41.13 billion, suggesting potential growth in sales or production[13] Shareholder Information - As of March 31, 2024, the total number of shareholders is 482,843, with the top 10 shareholders holding 20.09% of the shares[10] - The top 10 shareholders include significant institutional investors, indicating strong market confidence[11] - The company has no preferred shares outstanding, simplifying its capital structure[12] Research and Development - Research and development expenses amounted to RMB 6,375,823 thousand, an increase from RMB 5,933,282 thousand in Q1 2023, reflecting a focus on innovation[15] Financing Activities - Cash inflow from financing activities reached RMB 88,967,764 thousand, an increase from RMB 64,557,990 thousand in Q1 2023[16] - The net cash flow from financing activities was RMB 5,958,678 thousand, compared to RMB 5,516,541 thousand in Q1 2023[16] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[15]