Newtouch(SH:688590)2024-04-29 09:37Financial Performance - The company achieved operating revenue of CNY 433,247,095.27 in Q1 2024, representing a year-on-year increase of 36.76%[5] - Net profit attributable to shareholders reached CNY 15,117,189.97, up 107.78% compared to the same period last year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 13,441,634.60, an increase of 806.33% year-on-year[5] - Basic earnings per share were CNY 0.06, reflecting a 100% increase year-on-year[6] - Total revenue for Q1 2024 reached ¥433,247,095.27, a 36.8% increase from ¥316,795,419.78 in Q1 2023[20] - Net profit for Q1 2024 was ¥13,500,026.56, compared to ¥6,471,473.19 in Q1 2023, representing a 108.5% increase[21] - Earnings per share for Q1 2024 were ¥0.06, doubling from ¥0.03 in Q1 2023[22] - The company reported a comprehensive income total of ¥12,629,007.94 for Q1 2024, compared to ¥6,894,628.94 in Q1 2023, reflecting an 83.5% increase[22] Cash Flow and Assets - The net cash flow from operating activities was -CNY 210,995,050.28, a decrease of CNY 92,514,100.00 from the previous year[6] - The cash and cash equivalents decreased to CNY 385,107,701.52 from CNY 552,213,575.62, a decline of about 30.25%[15] - The total current assets as of March 31, 2024, amounted to CNY 2,232,287,941.33, an increase from CNY 2,151,374,144.08 as of December 31, 2023, reflecting a growth of approximately 3.75%[15] - Accounts receivable increased to CNY 1,200,253,567.20 from CNY 1,069,373,812.58, representing a rise of about 12.19%[16] - Inventory rose to CNY 499,862,336.37, up from CNY 386,438,883.87, indicating a growth of approximately 29.30%[16] - The total cash and cash equivalents at the end of the period were $382,838,294.13, compared to $300,654,317.75 at the end of the previous year[27] - The company experienced a net decrease in cash and cash equivalents of -$169,375,281.49, an improvement from -$317,739,335.51 in the prior year[27] Research and Development - Research and development expenses totaled CNY 40,402,686.94, accounting for 9.33% of operating revenue, a decrease of 2.99 percentage points[6] - Research and development expenses increased to ¥35,640,291.17 in Q1 2024 from ¥21,272,788.46 in Q1 2023, a rise of 67.7%[21] Shareholder Information - The top shareholder, Shanghai Qianzhihua Communication Technology Co., Ltd., holds 62,567,856 shares, representing a significant portion of the company's equity[13] - The report indicates no changes in the participation of major shareholders in margin financing and securities lending activities[13] Market and Future Outlook - The company reported a significant increase in demand for AI-related services, leading to rapid growth in its IT solutions business[6] - The company plans to continue investing in AIGC applications to capitalize on the growth of the digital economy[6] - The company has not disclosed any significant new product developments or technological advancements during this quarter[14] - There are no updates on market expansion or mergers and acquisitions in the current report[14] - The company has not provided any specific future outlook or performance guidance for the upcoming quarters[14] Operating Costs - Operating costs for Q1 2024 were ¥417,428,714.25, up from ¥313,406,134.37 in Q1 2023, reflecting a 33.3% increase[20] - Cash outflows for operating activities totaled $569,409,252.54, compared to $413,278,144.06 in the previous year, indicating increased operational costs[26] - Cash paid for purchasing goods and services was $173,981,375.73, significantly higher than $53,926,495.27 in the previous year[26] - Cash paid to employees was $329,575,756.14, slightly up from $321,736,682.64 year-over-year, reflecting stable labor costs[26]