龙芯中科(688047) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥119,997,881.69, representing a year-on-year increase of 1.62%[4] - The net profit attributable to shareholders was -¥74,808,468.70, and the net profit after deducting non-recurring gains and losses was -¥81,000,449.34[4] - The net cash flow from operating activities was -¥8,728,297.90[4] - Total operating revenue for Q1 2024 was approximately $120 million, a slight increase from $118 million in Q1 2023, representing a growth of 1.62%[20] - Net loss for Q1 2024 was approximately $75 million, compared to a net loss of $72 million in Q1 2023, indicating a decline of 4.06%[21] - Basic and diluted earnings per share for Q1 2024 were both -$0.19, compared to -$0.18 in Q1 2023, reflecting a worsening in earnings per share[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,930,163,971.24, a decrease of 4.42% compared to the end of the previous year[4] - As of March 31, 2024, the company's total assets amounted to approximately ¥3.93 billion, a decrease from ¥4.11 billion as of December 31, 2023[17] - The total liabilities decreased to ¥2.07 billion from ¥2.23 billion, indicating a reduction of about 7.2%[18] - The total liabilities decreased to approximately $457 million in Q1 2024 from $563 million in Q1 2023, a reduction of about 18.78%[19] - The total equity attributable to shareholders decreased to approximately $3.47 billion in Q1 2024 from $3.55 billion in Q1 2023, a decline of about 2.11%[19] Cash Flow - The company reported a decrease in cash flow from operating activities primarily due to a reduction in prepaid goods leading to decreased cash payments for purchases and services[9] - Cash inflow from operating activities for Q1 2024 was $239,153,280.38, compared to $146,350,079.05 in Q1 2023, representing an increase of approximately 63.3%[22] - Net cash flow from operating activities was -$8,728,297.90 in Q1 2024, an improvement from -$170,385,454.19 in Q1 2023[22] - Cash inflow from investment activities totaled $952,688,322.04 in Q1 2024, down from $1,166,680,108.37 in Q1 2023, a decrease of about 18.3%[23] - Net cash flow from investment activities was $114,917,529.53 in Q1 2024, a significant recovery from -$258,809,427.28 in Q1 2023[23] - The ending cash and cash equivalents balance for Q1 2024 was $494,824,167.21, up from $266,876,729.56 in Q1 2023, reflecting a significant increase of approximately 85.2%[23] Research and Development - The total R&D investment was ¥99,803,642.73, accounting for 83.17% of operating revenue, a decrease of 10.17 percentage points year-on-year[4] - The total R&D investment decreased by 9.45% compared to the previous period[4] - Research and development expenses were approximately $85 million in Q1 2024, down from $95 million in Q1 2023, a decrease of about 10.56%[20] Shareholder Information - The top shareholder, Beijing Tiantong Xinyuan Technology Co., Ltd., holds 21.56% of the shares, totaling 86,468,478 shares[10] - The company reported a total of 4,380,000 shares held by Zhang Wei, representing a significant ownership stake[14] - The top ten shareholders collectively held 6.44% of the company's unrestricted circulating shares as of the end of the reporting period[15] Other Financial Metrics - The weighted average return on net assets was -2.13%, a decrease of 0.46 percentage points compared to the previous year[4] - The company received government subsidies amounting to ¥1,076,196.47, which are closely related to its normal business operations[5] - The company’s financial assets at fair value through profit or loss decreased to ¥826.69 million from ¥951.54 million, a decline of approximately 13.1%[17] - The company's cash and cash equivalents increased to ¥518.32 million from ¥498.37 million year-over-year[17] - Accounts receivable rose to ¥511.64 million, up from ¥483.80 million in the previous year, indicating a growth of approximately 5.3%[17] - The company's inventory decreased to ¥925.78 million, down from ¥968.22 million, reflecting a decline of about 4.4%[17] - The total current liabilities decreased to ¥338.66 million from ¥399.73 million, showing a reduction of approximately 15.3%[18] - The company's short-term borrowings were reported at ¥90.60 million as of December 31, 2023, with no new short-term borrowings reported for the current quarter[18] - The company reported a significant decrease in tax expenses, with Q1 2024 tax expenses at approximately $12 million compared to $13 million in Q1 2023, a decrease of about 4.44%[21] - Other income for Q1 2024 was approximately $5 million, down from $19 million in Q1 2023, a decline of about 73.68%[20]