ZWSOFT(SH:688083)2024-04-25 11:54Financial Performance - Basic earnings per share for Q1 2024 was reported at -0.21 RMB per share, compared to -0.20 RMB per share in the previous quarter[11] - The net profit attributable to shareholders of the listed company was CNY -25,611,101.02, a significant decline compared to the previous year[33] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -78,290,665.56[26] - The weighted average return on net assets was -0.96%, a decrease of 0.31 percentage points[32] - The net profit attributable to shareholders of the listed company for the current period is significantly impacted by the growth in overseas and domestic distribution business revenues, although overall revenue growth remains modest due to economic conditions[42] Revenue and Sales - Total operating revenue for Q1 2024 was $120.05 million, an increase of 3.8% compared to $115.61 million in Q1 2023[15] - The company reported a total operating revenue of CNY 120,047,502.54, representing a year-on-year increase of 3.84%[27] - Revenue from the domestic commercial business grew over 35% year-on-year, driven by the sales team[27] - Revenue from overseas markets increased nearly 50% year-on-year, reflecting successful international expansion[27] - Revenue from the sale of goods and services received cash of RMB 126,561,684.40, an increase from RMB 121,534,829.76 in the previous year, reflecting a slight growth in sales[63] Expenses - Total operating costs for Q1 2024 were $223.22 million, up from $178.89 million in Q1 2023, reflecting a significant increase in sales expenses[15] - The company reported a significant increase in sales expenses, which reached $83.32 million in Q1 2024, compared to $77.49 million in Q1 2023[15] - Research and development expenses rose to $101.09 million in Q1 2024, compared to $78.28 million in Q1 2023, indicating a focus on innovation[15] - Research and development expenses totaled CNY 103,995,227.76, an increase of 26.70% year-on-year, accounting for 86.63% of operating revenue[32] - The company experienced an increase in personnel and operating expenses, which affected the net profit excluding non-recurring gains and losses[42] Assets and Liabilities - Total current assets as of March 31, 2024, amounted to RMB 2,214,568,043.03, a decrease from RMB 2,398,404,425.09 as of December 31, 2023, representing a decline of approximately 7.7%[7] - Total assets decreased from RMB 3,282,108,984.46 as of December 31, 2023, to RMB 3,109,934,152.33, indicating a reduction of approximately 5.3%[13] - Total liabilities decreased from RMB 444,115,825.54 to RMB 313,769,628.82, a reduction of about 29.4%[13] - Total liabilities decreased to $421.27 million in Q1 2024 from $556.48 million in Q1 2023, showing improved financial health[18] - The total equity attributable to shareholders decreased to $2.65 billion in Q1 2024 from $2.68 billion in Q1 2023[18] Cash Flow - Net cash flow from investment activities was $20.51 million in Q1 2024, a turnaround from a negative $11.20 million in Q1 2023[17] - The company's cash and cash equivalents at the end of Q1 2024 were $323.67 million, down from $340.17 million at the end of Q1 2023[17] - The net increase in cash and cash equivalents for Q1 2024 was a decrease of $162.73 million, compared to a decrease of $146.73 million in Q1 2023[17] - The company reported a net cash outflow from operating activities of RMB -167,259,258.96, compared to RMB -129,307,996.73 in the same period last year, indicating a worsening cash flow situation[63] - The company achieved a cash inflow from investment activities of RMB 2,283,249,178.63, a significant increase from RMB 1,274,051,402.39 in the previous year, indicating strong investment recovery[63] Strategic Initiatives - The company aims to enhance its All-in-One CAx solutions and become a leader in digital innovation in the R&D design field[33] - The company is undergoing a strategic upgrade that includes exploration in strategy, research and development, and marketing, which may impact short-term business performance but is expected to yield long-term benefits[42] Government Support - The company received government subsidies amounting to RMB 40,327,362.81, which are closely related to its normal business operations[41] - The company received VAT refunds related to software products amounting to RMB 7,227,689.67, which are directly related to its daily sales operations[42] Investment Income - The company reported a financial investment income of RMB 19,311,414.51 from financial products, contributing positively to its financial performance[41] - The company's investment income for Q1 2024 was $1.97 million, slightly up from $1.92 million in Q1 2023[15]