Orbbec (SH:688322)2024-04-29 11:26Financial Performance - The total revenue for Q1 2024 was reported at 1,899,432,673.41 RMB, a slight decrease from 1,922,201,434.54 RMB in Q4 2023[21] - The company's operating revenue for the reporting period was ¥92,911,484.67, representing a year-on-year increase of 51.66%[34] - Total operating revenue for Q1 2024 reached ¥92,911,484.67, a significant increase from ¥61,261,213.90 in Q1 2023, representing a growth of approximately 51.7%[47] - Operating profit for Q1 2024 was reported at -¥27,479,953.45, an improvement compared to -¥70,477,327.09 in Q1 2023, indicating a narrowing of losses[47] - The company reported a net loss of ¥27,806,552.46 for Q1 2024, compared to a net loss of ¥70,683,362.98 in Q1 2023, showing a significant reduction in losses[47] - The weighted average return on net assets was -0.96% for the reporting period[34] Cash Flow and Liquidity - The cash and cash equivalents increased to 1,319,243,661.17 RMB from 1,197,879,775.76 RMB, reflecting a growth of approximately 10.1%[21] - The company’s cash and cash equivalents increased, contributing to improved liquidity despite the overall loss[49] - Cash inflow from operating activities for Q1 2024 was $170,418,034.89, a significant increase from $95,375,203.16 in Q1 2023, representing an increase of approximately 78.5%[51] - Net cash outflow from operating activities improved to -$33,630,208.57 in Q1 2024 compared to -$92,571,439.75 in Q1 2023, indicating a reduction in cash burn[51] - Total cash outflow from operating activities in Q1 2024 was $204,048,243.46, compared to $187,946,642.91 in Q1 2023, an increase of about 8.6%[51] Assets and Liabilities - The total assets amounted to ¥3,358,426,227.11, slightly down from ¥3,384,218,429.36 in the previous period[45] - Total assets at the end of the reporting period were ¥3,358,426,227.11, a decrease of 0.76% compared to the end of the previous year[35] - The total liabilities decreased, indicating improved financial health, although exact figures were not provided[21] - Total liabilities increased to ¥381,734,366.65 from ¥373,691,931.20, reflecting a rise of approximately 1.4%[45] - The company's equity attributable to shareholders decreased to -¥1,616,698,499.31 from -¥1,587,917,829.86, indicating a decline in retained earnings[45] Research and Development - Research and development expenses totaled ¥53,529,171.82, a decrease of 31.00% year-on-year, with R&D expenses accounting for 57.61% of operating revenue[34] - Research and development expenses for Q1 2024 were ¥53,529,171.82, down from ¥77,573,402.45 in Q1 2023, a decrease of about 30.9%[47] Non-Operating Income and Expenses - The company recorded non-operating income of 6,520,552.03 RMB from government subsidies, which are closely related to its normal business operations[10] - The company reported a non-recurring loss of 53,665.02 RMB from other operating income and expenses[10] Strategic Initiatives - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[10] - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to drive growth[10] Inventory and Financial Management - The inventory level stood at 162,416,349.01 RMB, showing a slight increase from 159,040,371.01 RMB in the previous quarter[21] - The fair value changes of financial assets and liabilities resulted in a gain of 6,116,371.32 RMB, indicating active management of financial instruments[10]