C*Core Technology(SH:688262)2024-04-26 10:17Financial Performance - The company's operating revenue for Q1 2024 was ¥178,567,059.77, representing a 9.17% increase compared to ¥163,570,840.37 in the same period last year[6]. - The net profit attributable to shareholders was -¥46,347,609.13, a decline from -¥25,000,535.71 in the previous year, indicating a significant increase in losses[6]. - Total operating revenue for Q1 2024 was CNY 178,567,059.77, an increase of 9.1% compared to CNY 163,570,840.37 in Q1 2023[20]. - Net loss for Q1 2024 was CNY 46,347,609.13, compared to a net loss of CNY 25,000,535.71 in Q1 2023, indicating a deterioration in profitability[22]. - Basic and diluted earnings per share for Q1 2024 were both CNY -0.14, compared to CNY -0.07 in Q1 2023[22]. Research and Development - Research and development (R&D) expenses totaled ¥71,736,778.55, up 37.02% from ¥52,353,434.43 in the same period last year, reflecting increased investment in innovation[7][11]. - R&D expenses accounted for 40.17% of operating revenue, an increase of 8.16 percentage points compared to 32.01% in the previous year[7]. - R&D expenses increased to CNY 71,736,778.55 in Q1 2024, representing a 37.0% rise from CNY 52,353,434.43 in Q1 2023[20]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥220,398,638.60, worsening from -¥129,828,080.12 in the previous year, primarily due to increased operational and personnel costs[6][11]. - The net cash flow from operating activities for Q1 2024 was -$220.40 million, compared to -$129.83 million in Q1 2023, indicating a decline in operational cash generation[24]. - Cash inflow from operating activities was CNY 253,379,700.38 in Q1 2024, slightly up from CNY 244,727,423.63 in Q1 2023[23]. - Cash outflow from operating activities increased to CNY 473,778,338.98 in Q1 2024, compared to CNY 374,555,503.75 in Q1 2023[23]. - The ending cash and cash equivalents balance for Q1 2024 was $770.07 million, down from $806.91 million in Q1 2023, reflecting a decrease in liquidity[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,918,597,496.65, a decrease of 2.01% from ¥2,978,611,496.70 at the end of the previous year[7]. - The total current assets decreased to ¥2,238,810,530.54 from ¥2,315,702,397.32, representing a decline of about 3.3%[17]. - The company's inventory decreased to ¥435,567,710.14 from ¥476,497,528.46, indicating a reduction of approximately 8.6%[17]. - Total liabilities as of Q1 2024 were CNY 555,950,563.57, an increase from CNY 539,288,135.91 in Q1 2023[19]. - The total liabilities decreased to ¥2,238,810,530.54 from ¥2,315,702,397.32, reflecting a decrease of about 3.3%[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,614, with the top ten shareholders holding a combined 25.58% of the shares[12]. - The company reported a total of 4,610,343 shares held in the repurchase account as of March 31, 2024, representing 1.74% of the total shares[14]. - The company has not reported any significant changes in the participation of major shareholders in the margin trading and securities lending business[14]. Other Financial Metrics - The company reported non-recurring gains of ¥5,622,268.06, which included government subsidies and other non-operating income[9]. - The company's long-term equity investments were valued at ¥21,188,741.54, down from ¥21,893,865.44, a decrease of approximately 3.2%[17]. - The company reported a significant increase in sales expenses to CNY 10,561,016.34 in Q1 2024, compared to CNY 8,916,302.43 in Q1 2023[20]. - The cash outflow for capital expenditures in Q1 2024 was $9.44 million, down from $52.50 million in Q1 2023, indicating reduced capital spending[24]. - The company did not apply new accounting standards for the first quarter of 2024, maintaining consistency in financial reporting[25].