GREAT MICROWAVE(SH:688270)2024-04-25 11:58Financial Performance - The company's revenue from sales and services received in Q1 2024 was 13,173,009.15 RMB, significantly up from 6,567,974.81 RMB in Q1 2023, reflecting a growth of approximately 100% [20]. - The company's operating revenue for Q1 2024 reached ¥5,988,529.30, a significant increase of 28.2% compared to ¥4,673,379.99 in Q1 2023 [1]. - The company's operating revenue for the reporting period was CNY 53,865,591.29, representing a year-on-year increase of 29.30% [45]. - Total operating revenue for Q1 2024 reached ¥53,865,591.29, a 29.2% increase from ¥41,659,663.54 in Q1 2023 [77]. - The net profit for Q1 2024 was a loss of ¥5,677,219.22, compared to a profit of ¥7,240,256.21 in Q1 2023, indicating a substantial decline in profitability [1]. - The net profit attributable to shareholders of the listed company was CNY -5,677,219.22, a decrease of 178.41% compared to the same period last year [45]. - Comprehensive income for the first quarter of 2024 was -5,677,219.22, compared to 7,240,256.21 in the first quarter of 2023, indicating a significant decline [26]. - Basic and diluted earnings per share for Q1 2024 were both -0.04, down from 0.05 in Q1 2023 [26]. - The company reported a basic earnings per share of ¥0.12 for Q1 2024, compared to ¥0.15 in Q1 2023 [69]. Cash Flow and Liquidity - The company's cash flow from operating activities for Q1 2024 was negative at -3,448,741.15 RMB, an improvement from -7,770,247.98 RMB in Q1 2023, indicating a reduction in cash outflow [20]. - The company received 9,543,063.89 RMB in cash related to other operating activities in Q1 2024, compared to 9,332,208.27 RMB in Q1 2023, showing a marginal increase [20]. - Net cash flow from operating activities decreased by 50.86%, amounting to CNY -43,809,419.63, primarily due to increased cash payments for goods and services [58]. - Net cash flow from operating activities for Q1 2024 was -¥43,809,419.63, compared to -¥29,040,409.19 in Q1 2023 [79]. - Cash and cash equivalents at the end of the period decreased from 1,629,219,265.36 to 1,518,237,884.71, a decline of approximately 6.8% [29]. - Cash and cash equivalents at the end of Q1 2024 totaled ¥1,330,896,589.87, down from ¥1,391,282,046.79 at the end of Q1 2023 [83]. Assets and Liabilities - Total current assets as of March 31, 2024, were 1,330,896,589.87 RMB, compared to 1,363,748,428.00 RMB at the end of 2023, showing a slight decrease [18]. - The total liabilities and equity as of March 31, 2024, amounted to 2,226,551,387.85 RMB, down from 2,245,228,030.57 RMB at the end of 2023 [14]. - The company's cash and cash equivalents were reported at 1,518,238,484.71 RMB as of March 31, 2024, compared to 1,593,084,393.62 RMB at the end of 2023, indicating a decrease [11]. - Total assets decreased from 2,245,228,030.57 to 2,226,551,387.85, a decline of approximately 0.83% [22]. - Total liabilities decreased from 110,917,149.40 to 96,826,679.00, a reduction of about 12.7% [23]. - The total liabilities decreased to ¥42,975,270.30 in Q1 2024 from ¥44,647,036.45 in Q1 2023, a reduction of 3.8% [1]. - The total equity attributable to shareholders was 2,129,724,708.85 RMB as of March 31, 2024, slightly down from 2,134,310,881.17 RMB at the end of 2023 [14]. - The total equity increased to ¥1,863,096,654.28 in Q1 2024 from ¥1,849,509,223.76 in Q1 2023, reflecting a growth of 0.7% [1]. - The company reported a total asset value of ¥1,906,071,924.58 in Q1 2024, compared to ¥1,894,156,260.21 in Q1 2023, marking an increase of 0.6% [1]. Expenses and Investments - Research and development expenses for Q1 2024 totaled ¥36,514,796.49, an increase of 60.2% from ¥22,796,449.53 in Q1 2023 [1]. - Research and development expenses totaled CNY 36,514,796.49, reflecting a significant increase of 60.18% year-on-year, driven by ongoing investments in new products and technologies [55]. - The cost of goods sold in Q1 2024 was ¥2,496,154.66, up from ¥1,288,130.04 in Q1 2023, reflecting a year-over-year increase of 94.0% [1]. - Total operating costs for Q1 2024 were ¥47,398,873.89, up 63.5% from ¥29,021,698.15 in Q1 2023 [77]. - The company incurred sales expenses of ¥3,960,414.54 in Q1 2024, an increase from ¥3,150,929.40 in Q1 2023 [77]. - Management expenses for Q1 2024 were ¥9,986,489.58, compared to ¥7,793,379.95 in Q1 2023, reflecting a 28.2% increase [77]. Other Key Information - The company has not reported any net profit from subsidiaries under common control during the current or previous periods [16]. - The company reported a significant increase in other income, totaling ¥603,503.00 in Q1 2024, compared to ¥985,200.83 in Q1 2023, indicating a focus on diversifying income sources [1]. - The company received government subsidies amounting to ¥51,000.00 during the period, which are closely related to its normal business operations [71]. - The company has indicated plans for market expansion and new product development, although specific details were not disclosed in the financial report [1]. - The number of ordinary shareholders at the end of the reporting period was 7,795, with the largest shareholder holding 21.04% of the shares [1]. - The company experienced a credit impairment loss of CNY -95,381.71, which was less severe than the previous year's loss of CNY -374,533.24 [44]. - The company reported an investment income of CNY 16,948,695.64, compared to a loss of CNY -3,542,853.83 in the previous period [44]. - The return on equity (ROE) decreased by 0.62 percentage points, resulting in a value of -0.27% [55]. - The proportion of R&D investment to operating revenue increased by 13.07 percentage points, reaching 67.79% [55].