Cubic(SH:688665)2024-04-29 13:12Financial Performance - In Q1 2024, the company achieved operating revenue of CNY 141.87 million, a year-on-year increase of 1.40%[6]. - The net profit attributable to shareholders decreased to CNY 19.85 million, down 48.81% year-on-year[6]. - The gross profit margin for Q1 2024 was 41.74%, a decrease of 4.67 percentage points compared to the previous year[11]. - The net profit attributable to shareholders decreased by 48.81%[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 55.22%[17]. - Basic earnings per share decreased by 49.09%[17]. - Diluted earnings per share also decreased by 49.09%[17]. - The net profit for Q1 2024 was CNY 20,300,343.95, a decrease of 47.9% compared to CNY 38,906,092.03 in Q1 2023[30]. - Operating profit for Q1 2024 was CNY 21,795,905.89, down 50.4% from CNY 43,876,845.40 in the same period last year[30]. - Total revenue from sales and services received in Q1 2024 was CNY 126,064,171.07, a decline of 19.9% from CNY 157,283,959.84 in Q1 2023[32]. - The company reported a total comprehensive income of CNY 20,300,343.95 for Q1 2024, compared to CNY 38,906,092.03 in Q1 2023[30]. Research and Development - R&D investment totaled CNY 20.34 million, representing a year-on-year increase of 47.54% and accounting for 14.34% of operating revenue, an increase of 4.48 percentage points[7][14]. - R&D investment accounted for 47.54% of operating revenue, an increase of 4.48 percentage points[17]. - Research and development expenses increased to CNY 20,343,203.41 in Q1 2024, compared to CNY 13,788,376.59 in Q1 2023, reflecting a growth of 47.5%[28]. Cash Flow and Assets - Cash flow from operating activities showed a net outflow of CNY 26.39 million, a decline of 193.13% year-on-year[13]. - The net cash flow from operating activities declined by 193.13%[17]. - Cash and cash equivalents were CNY 192,611,278.10 as of March 31, 2024, down from CNY 265,450,245.55 at the end of 2023, indicating a decline of 27.5%[25]. - Cash and cash equivalents at the end of Q1 2024 totaled CNY 193,084,185.74, a decrease from CNY 412,489,671.89 at the end of Q1 2023[34]. - Total current assets as of March 31, 2024, were CNY 756,143,199.60, a decrease from CNY 769,569,387.39 as of December 31, 2023[25]. - Total liabilities decreased to CNY 251,784,931.25 as of March 31, 2024, down from CNY 273,288,325.63 at the end of 2023[26]. - The company reported a total asset value of CNY 1,246,878,709.89 as of March 31, 2024, slightly up from CNY 1,242,817,536.35 at the end of 2023[27]. - Shareholders' equity increased to CNY 995,093,778.64 as of March 31, 2024, compared to CNY 969,529,210.72 at the end of 2023, indicating a growth of 2.6%[27]. Business Operations - The revenue from the smart metering business, primarily ultrasonic gas meters, grew by 240.02% year-on-year[8]. - The company’s foreign trade revenue increased by 22.00% year-on-year, while domestic revenue decreased by 5.22%[8]. - Management, sales, and R&D expenses increased by a total of CNY 14.26 million, primarily due to rising personnel costs[9][10]. - The company plans to continue expanding its domestic and international markets, with significant growth expected in the second and third quarters of 2024[14]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,051[19]. - The largest shareholder, Wuhan Youhui Technology Co., Ltd., holds 31,500,000 shares, representing 45.00% of total shares[20]. - The company has no preferred shareholders with restored voting rights[19].