Dosilicon(SH:688110)2024-04-29 10:38Financial Performance - The company reported a net cash flow from operating activities of RMB -3,144,014.59, primarily due to a decline in operating revenue and increased R&D investment[9]. - The company's operating revenue for Q1 2024 was CNY 106,242,243.58, representing a year-on-year decrease of 14.21%[34]. - The net profit attributable to shareholders of the listed company was a loss of CNY 44,504,563.57, with a basic and diluted earnings per share of -0.10 CNY[34]. - The company reported a comprehensive loss of CNY 55,181,946.06 for the quarter, compared to a loss of CNY 44,491,904.79 in the same period last year[49]. - Net profit for Q1 2024 was a loss of CNY 48,249,770.80, compared to a loss of CNY 34,458,691.81 in Q1 2023, representing a deterioration of 40.0%[71]. - Total operating revenue for Q1 2024 was CNY 106,242,243.58, a decrease of 14.3% compared to CNY 123,835,909.21 in Q1 2023[70]. - Total operating costs increased to CNY 154,405,869.70 in Q1 2024, up 4.8% from CNY 147,299,172.14 in Q1 2023[70]. Research and Development - R&D investment increased by 37.50%, reflecting the company's commitment to independent research and development, expanding the R&D team, and enhancing product reliability[9]. - The company reported a significant increase in the number of R&D projects, contributing to the expansion of its product line and process iteration[9]. - Research and development expenses totaled CNY 48,872,070.49, an increase of 37.50% year-on-year, accounting for 46.00% of operating revenue, up by 17.30 percentage points[34][58]. - The company is expanding its R&D team to focus on the development of Wi-Fi 7 wireless communication chips, aiming to enhance its product offerings[58]. - The company plans to establish subsidiaries in Shanghai, Guangzhou, and a branch in Beijing to enhance R&D capabilities for Wi-Fi 7 wireless communication chips[66]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 69,692,257.96, indicating challenges in cash generation[34]. - Cash flow from operating activities showed a net outflow of CNY 69,692,257.96 in Q1 2024, worsening from a net outflow of CNY 32,992,856.62 in Q1 2023[73]. - Cash inflow from investment activities decreased to CNY 136,996,768.47 in Q1 2024, down from CNY 210,349,465.75 in Q1 2023[73]. - Cash outflow for investment activities was CNY 182,712,773.79 in Q1 2024, compared to CNY 221,203,857.67 in Q1 2023, indicating a reduction of 17.3%[73]. - The cash and cash equivalents at the end of the period were CNY 1,565,314,292.55, down from CNY 2,481,101,848.43 at the end of the previous year[51]. - The company's total assets at the end of the reporting period were CNY 3,751,885,928.68, a decrease of 2.48% compared to the end of the previous year[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,510, with the largest shareholder, Dongfang Hengxin Group Co., Ltd., holding 32.38% of shares[11]. - The company has not reported any significant changes in the top 10 shareholders due to margin trading or stock lending activities[14]. - The company has initiated a restricted stock incentive plan, proposing to grant a total of 3,426,000 shares, with 3,275,000 shares for initial grant and 151,000 shares reserved[66]. - The company repurchased a total of 3,218,219 shares, accounting for 0.7277% of the total share capital, with a total expenditure of CNY 100,062,741.68[40]. - The company has a maximum repurchase price of RMB 40 per share for the buyback program[65]. Market Conditions - The company faced challenges due to a slow recovery in market demand influenced by the global economic environment and the semiconductor industry cycle[6]. - The company is focused on market expansion and new technology development to enhance its competitive position in the semiconductor industry[6]. Financial Adjustments - The fair value changes of financial assets and liabilities resulted in a gain of RMB 3,550,385.01, excluding normal business-related hedging activities[7]. - The total amount of non-recurring gains and losses was RMB 3,144,014.59 after accounting for tax and minority interests[8]. - The company reported inventory of RMB 847,249,801.00, up from RMB 756,515,402.65 in the previous period[68]. - The total current assets amount to RMB 3,250,240,384.13, an increase from RMB 2,874,499,661.35 in the previous period[68]. - The total non-current assets decreased to RMB 501,645,544.55 from RMB 972,665,867.81 in the previous period[68]. - The total liabilities decreased to RMB 146,678,852.92 from RMB 153,988,595.29 in the previous period[69]. - The company's capital reserve increased to RMB 3,216,049,350.90 from RMB 3,213,564,926.08 in the previous period[69]. - The weighted average return on net assets was -1.28%, a decrease of 0.40 percentage points compared to the previous year[34].