Luster(SH:688400)2024-04-29 11:26Financial Performance - The company's Q1 2024 revenue was CNY 443.43 million, a decrease of 19.45% year-on-year[4] - The net profit attributable to shareholders was a loss of CNY 66.75 million, representing a decline of 165.62% compared to the same period last year[4] - The net cash flow from operating activities was negative at CNY 39.76 million, down 147.67% year-on-year[4] - Total operating revenue for Q1 2024 was CNY 443.43 million, a decrease of 19.5% compared to CNY 550.52 million in Q1 2023[22] - Net loss for Q1 2024 was CNY 9.08 million, compared to a net profit of CNY 8.82 million in Q1 2023[24] - Operating profit for Q1 2024 was CNY -10.12 million, worsening from CNY -5.50 million in Q1 2023[24] - The basic and diluted earnings per share were both CNY -0.01, a decrease of 150% year-on-year[4] - The company reported a basic loss per share of CNY -0.01 for Q1 2024, compared to earnings per share of CNY 0.02 in Q1 2023[24] Research and Development - R&D investment totaled CNY 103.55 million, accounting for 23.35% of revenue, an increase of 4.78 percentage points year-on-year[5] - The company maintained a steady focus on product R&D, with a year-on-year increase of 1.27% in overall R&D investment[6] - Research and development expenses for Q1 2024 were CNY 93.39 million, a decrease of 8.5% from CNY 102.25 million in Q1 2023[22] - Research and development expenses for Q1 2024 were CNY 48,097,043.47, down 10.7% from CNY 53,855,221.89 in Q1 2023[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4.93 billion, a decrease of 3.08% from the end of the previous year[5] - The company's total assets amounted to RMB 4,928,522,520.85, a decrease from RMB 5,085,195,018.26 at the end of 2023, reflecting a decline of approximately 3.08%[18] - The company's cash and cash equivalents stood at RMB 2,021,641,504.35, down from RMB 2,083,317,848.08, indicating a decrease of about 2.97%[18] - Total liabilities as of Q1 2024 were CNY 1,029.06 million, down from CNY 1,118.03 million in the previous year[20] - The company's total liabilities decreased to 601,616,016.46 RMB in Q1 2024 from 636,890,720.70 RMB at the end of 2023, reflecting a reduction of about 5.5%[32] - The company's total current liabilities were RMB 1,000,000,000, reflecting a significant increase compared to the previous period[19] - The long-term equity investments were reported at RMB 183,948,712.83, slightly down from RMB 184,165,167.60[19] Cash Flow - The company's cash flow from operating activities was impacted by a decrease in cash received from sales, which fell to 558,255,653.74 RMB in Q1 2024 from 760,193,715.51 RMB in Q1 2023, a decline of approximately 26.6%[26] - In Q1 2024, the company's cash flow from operating activities was negative at -39,761,229.88 RMB, a significant decline compared to a positive cash flow of 83,410,988.47 RMB in Q1 2023, representing a year-over-year change of approximately -148%[26] - The total cash inflow from operating activities decreased to 612,460,269.58 RMB in Q1 2024, down 25.4% from 821,728,247.94 RMB in Q1 2023[26] - The company reported a net cash outflow from investing activities of -88,719,054.29 RMB in Q1 2024, an improvement from -185,708,209.99 RMB in Q1 2023[27] - The company reported a significant increase in cash inflow from investment activities, totaling CNY 234,584,964.39 in Q1 2024 compared to CNY 51,007,050.00 in Q1 2023[36] Market Strategy - The decline in performance was primarily due to sales orders not converting into revenue due to delivery cycle factors[4] - The company is actively expanding its product and market layout in sectors such as consumer electronics, new energy, and cultural metaverse[6] - The company is focusing on new product development and market expansion strategies to enhance future growth prospects[19]