Bluetrum(SH:688332) Ju Chao Zi Xun·2025-04-30 10:24Core Viewpoint - The company reported a slight increase in revenue but a significant decline in net profit for the first quarter, indicating potential challenges in profitability despite revenue growth [1][2]. Financial Performance - The company achieved operating revenue of 367.30 million yuan, a year-on-year increase of 1.2% [2]. - The net profit attributable to shareholders was 44.89 million yuan, down 18.21% compared to the previous year [2]. - The net profit after deducting non-recurring gains and losses was 36.67 million yuan, reflecting a decrease of 19.93% year-on-year [2]. - The net cash flow from operating activities was negative at -11.57 million yuan, a significant decline from a positive 10.65 million yuan in the same period last year [2]. - Basic and diluted earnings per share were both 0.37 yuan, down 19.57% from 0.46 yuan [2]. - The weighted average return on equity decreased to 1.11%, down 0.33 percentage points from the previous year [2]. Research and Development - The company increased its R&D investment to 45.77 million yuan, a 53.59% increase year-on-year [2]. - R&D expenditure accounted for 12.46% of operating revenue, up 4.25 percentage points from the previous year [2]. - The company has launched several new chip series, including the BT897X series, which features advanced capabilities for AI applications and improved power efficiency [2]. Strategic Outlook - The company aims to enhance its market competitiveness by diversifying its chip products to meet varying brand needs from entry-level to mid-to-high-end products [3]. - The strategic focus includes "AI empowerment, technological leadership, product diversification, and global market expansion" [3]. - The company plans to expand its product lines from eight to ten, including Bluetooth earphone chips, smart wearable device chips, and video chips [3]. - The company is committed to strengthening its domestic market presence while accelerating its overseas market expansion [3].