福昕软件(688095) - 2024 Q1 - 季度财报

Financial Performance - The company reported a revenue of ¥168,790,139.13 for Q1 2024, representing a year-on-year increase of 16.87%[4] - The net loss attributable to shareholders was ¥10,608,960.93, a reduction in loss of 6.47% compared to the same period last year[5] - Subscription revenue reached ¥74,378,500, a significant increase of 73.30% year-on-year, with an Annual Recurring Revenue (ARR) of ¥280,887,200, up 13.09% from the previous year[6] - Channel revenue grew by 49.01% year-on-year, amounting to ¥63,187,100, which accounted for 37.44% of total revenue[9] - Total revenue for Q1 2024 reached RMB 168,790,139.13, an increase of 16.88% compared to RMB 144,424,332.94 in Q1 2023[31] - Total operating costs for Q1 2024 were RMB 187,885,218.40, up from RMB 165,396,139.49 in Q1 2023, reflecting a year-over-year increase of 13.14%[31] - In Q1 2024, the company reported a net loss of CNY 10,713,323.72, an improvement from a net loss of CNY 11,346,132.97 in Q1 2023, representing a decrease in loss of approximately 5.57%[32] - Total revenue from operating activities increased to CNY 187,407,520.75 in Q1 2024, up from CNY 155,314,185.58 in Q1 2023, reflecting a growth of about 20.66%[36] - The company’s total comprehensive loss for Q1 2024 was CNY 9,910,515.38, compared to a total comprehensive loss of CNY 14,572,244.23 in Q1 2023, indicating a reduction in comprehensive loss of approximately 31.06%[33] - Basic and diluted earnings per share for Q1 2024 were both CNY -0.1193, slightly improved from CNY -0.1281 in Q1 2023[33] Cash Flow and Assets - The company’s cash flow from operating activities was negative at -¥46,060,735.07, primarily due to increased expenses related to market expansion and personnel costs[6] - The net cash flow from operating activities decreased by 33.42% due to increased market expansion and business scale, leading to higher cash inflows from sales, but also higher expenses related to salaries and software licensing fees[13] - Cash and cash equivalents as of March 31, 2024, amounted to RMB 640,536,495.97, down from RMB 712,054,365.23 at the end of 2023, representing a decrease of 10.06%[25] - The company’s total assets as of March 31, 2024, were RMB 2,970,906,655.66, a slight decrease from RMB 3,013,043,106.88 at the end of 2023[28] - The company reported a decrease in retained earnings to RMB 55,085,749.08 as of March 31, 2024, down from RMB 65,694,710.01 at the end of 2023, a decline of 16.67%[28] - The company’s cash and cash equivalents decreased to CNY 640,536,495.97 at the end of Q1 2024, down from CNY 606,335,658.84 at the end of Q1 2023[37] Expenses and Liabilities - Research and development expenses totaled ¥63,079,946.10, representing 37.37% of revenue, a decrease of 1.87 percentage points year-on-year[4] - Research and development expenses for Q1 2024 were RMB 57,232,086.06, compared to RMB 56,675,527.09 in Q1 2023, indicating a marginal increase of 0.98%[31] - The company’s total liabilities decreased to RMB 416,300,343.21 as of March 31, 2024, from RMB 447,510,872.71 at the end of 2023, a reduction of 6.97%[27] - The company’s total liabilities increased, with interest expenses rising to CNY 376,384.53 in Q1 2024 from CNY 224,577.69 in Q1 2023, indicating an increase of approximately 67.5%[32] Strategic Initiatives - The company signed a software agency agreement with a core PC channel vendor to provide AI-integrated Foxit PDF Editor, enhancing product penetration in key channels[10] - The company plans to use 90.238144 million RMB of raised funds for acquiring 38.2749% equity in Fuxin Kunpeng (Beijing) Information Technology Co., increasing its total ownership to 73.2436%[20] - The company plans to utilize part of the raised funds for share buybacks, with a total buyback amount between RMB 15 million and RMB 30 million[23] - The company repurchased a total of 255,313 shares, accounting for 0.28% of the total share capital, with a total expenditure of RMB 13,772,300 (excluding transaction fees) during the third phase of share buyback[24] - The highest repurchase price during the buyback was RMB 83.75 per share, while the lowest was RMB 39.09 per share[24] Management and Recognition - The company appointed a new independent director, Niu Yuzhen, following the passing of independent director Ye Dongyi, effective from the approval date of the shareholders' meeting[19] - The company was ranked 53rd in G2.com’s "2024 Best Software Companies" list, being the only PDF vendor besides Adobe to make the top 100[10] - The company experienced a significant increase in interest income, which rose to CNY 4,698,459.69 in Q1 2024, compared to CNY 448,246.27 in Q1 2023, marking an increase of approximately 950.93%[32] - The company reported a significant increase in other income, which amounted to CNY 842,800.92 in Q1 2024, compared to CNY 1,225,327.75 in Q1 2023, reflecting a decrease of approximately 31.19%[32]