Neoway(SH:688159)2024-04-29 13:36Financial Performance - The company's revenue for Q1 2024 reached ¥862,350,045.17, representing a year-over-year increase of 358.74%[2] - Net profit attributable to shareholders was ¥58,730,402.96, marking a 400.36% increase compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses was ¥55,274,647.88, reflecting a 346.84% increase year-over-year[2] - Basic earnings per share (EPS) was ¥0.64, up 404.76% from the same period last year[2] - Diluted EPS was ¥0.58, an increase of 376.19% year-over-year[2] - The company's net profit for Q1 2024 was ¥9,363,105.38, a significant recovery from a loss of ¥49,367,297.58 in the previous period[14] - Net profit for Q1 2024 was ¥57,544,244.52, compared to a net loss of ¥19,885,660.30 in Q1 2023, marking a turnaround in profitability[19] - The total comprehensive income for Q1 2024 was ¥57,544,244.52, compared to a loss of ¥19,885,660.30 in Q1 2023[19] - The company reported a gross profit of ¥60,671,496.21 for Q1 2024, with a gross margin of approximately 7.0%[18] - The gross profit margin improved, with operating profit for Q1 2024 at ¥73,555,878.08 compared to a loss of ¥17,966,499.45 in the same period last year[30] Cash Flow and Liquidity - The net cash flow from operating activities was -¥18,739,138.68, a decrease of 79.65% compared to the previous year[2] - Cash flow from operating activities for Q1 2024 was negative at -¥18,739,138.68, an improvement from -¥92,085,369.03 in Q1 2023[22] - The company’s cash and cash equivalents at the end of Q1 2024 stood at ¥173,557,848.47, compared to ¥208,160,001.15 at the end of Q1 2023[23] - The total cash and cash equivalents at the end of Q1 2024 were $117.49 million, down from $182.16 million at the end of Q1 2023, a decrease of about 35%[33] - The net cash flow from financing activities in Q1 2024 was $36.18 million, a decrease from $100.68 million in Q1 2023, reflecting a decline of approximately 64%[33] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,706,846,206.72, an increase of 8.77% from the end of the previous year[3] - The total liabilities as of March 31, 2024, were RMB 898,726,230.87, compared to RMB 822,287,891.37 at the end of 2023, marking an increase of about 9.3%[14] - The total liabilities of the company as of March 31, 2024, were ¥955,539,150.54, up from ¥864,985,687.67 at the end of 2023, indicating a growth of about 10.5%[27] - The total equity increased to ¥870,800,263.45 in Q1 2024 from ¥803,351,998.94 at the end of 2023, marking an increase of approximately 8.4%[27] Research and Development - R&D investment totaled ¥26,622,230.24, accounting for 3.09% of revenue, a decrease of 11.10% from the previous year[3] - Research and development expenses increased to ¥22,160,787.25 in Q1 2024 from ¥18,615,855.49 in Q1 2023, reflecting a growth of approximately 19.0%[18] - Research and development expenses for Q1 2024 were ¥19,926,255.45, compared to ¥17,756,945.53 in Q1 2023, reflecting an increase of approximately 12.3%[30] Market and Operational Insights - The company's revenue and profit experienced significant growth in Q1 2024, attributed to the development of IoT wireless communication modules, terminals, and cloud services[10] - The company holds over RMB 600 million in unfulfilled orders, demonstrating strong demand for its products[10] - The gross profit margin and operating expenses showed minimal fluctuation compared to the same period last year, indicating stable operational efficiency[10] - The company plans to continue executing its development strategy and expand into urban IoT perception and cloud infrastructure markets[10]