澜起科技(688008) - 2025 Q1 - 季度财报

Financial Performance - In Q1 2025, the company achieved operating revenue of RMB 1.22 billion, a year-on-year increase of 65.78% and a quarter-on-quarter increase of 14.43%[5] - The net profit attributable to shareholders reached RMB 525 million, representing a year-on-year growth of 135.14% and a quarter-on-quarter growth of 21.13%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 502 million, up 128.83% year-on-year and 34.22% quarter-on-quarter[5] - Basic and diluted earnings per share both reached 130.00 RMB, reflecting substantial net profit growth[13] - Total revenue for Q1 2025 reached CNY 1,222,209,473.93, a significant increase of 65.7% compared to CNY 737,262,933.17 in Q1 2024[23] - Operating profit for Q1 2025 was CNY 531,560,973.46, up 108.4% from CNY 240,601,444.51 in Q1 2024[23] - Net profit for Q1 2025 amounted to CNY 503,718,732.28, representing a 125.5% increase from CNY 223,408,575.46 in Q1 2024[23] - The total comprehensive income for the first quarter of 2025 was CNY 498,039,043.49, compared to CNY 231,786,516.86 in the same period of 2024, representing a significant increase[24] Cash Flow and Assets - The company's cash flow from operating activities was RMB 188 million, a decrease of 46.95% compared to the same period last year[5] - The company's cash flow from operating activities decreased by 46.95% due to increased inventory purchases in response to higher order volumes[13] - The net cash flow from operating activities for Q1 2025 was CNY 188,245,990.36, down from CNY 354,848,215.59 in Q1 2024[25] - Cash inflow from sales of goods and services reached CNY 1,125,068,586.14 in Q1 2025, compared to CNY 816,585,595.54 in Q1 2024, indicating a growth of approximately 38%[25] - The total cash inflow from operating activities was CNY 1,192,137,693.50 in Q1 2025, compared to CNY 877,588,152.72 in Q1 2024, marking an increase of approximately 36%[25] - The cash outflow for purchasing goods and services was CNY 685,019,291.04 in Q1 2025, significantly higher than CNY 243,028,370.41 in Q1 2024[25] - Cash and cash equivalents rose to CNY 7,174,729,668.02 in Q1 2025, compared to CNY 6,843,296,852.61 at the end of 2024, an increase of 4.9%[20] - The cash and cash equivalents at the end of Q1 2025 totaled CNY 7,035,629,596.00, up from CNY 5,646,760,859.58 at the end of Q1 2024[26] Research and Development - Research and development expenses decreased by 13.06% year-over-year, resulting in a reduction of R&D investment as a percentage of revenue by 11.36 percentage points[14] - Research and development expenses for Q1 2025 were CNY 153,057,849.50, down 13.0% from CNY 176,044,108.52 in Q1 2024[23] Product Performance and Market Position - The gross margin for the interconnect chip product line was 64.50%, an increase of 3.57 percentage points year-on-year, contributing to an overall gross profit growth of 73.66% year-on-year[6] - The sales revenue of interconnect chips was RMB 1.14 billion, a year-on-year increase of 63.92%[7] - The company successfully passed the CXL 2.0 compliance test for its CXL MXC chip, maintaining its industry-leading position[7] - The company launched the PCIe 6.x/CXL 3.x Retimer chip, which supports data transmission rates of up to 64GT/s[8] - The company expects a significant increase in demand and penetration rate for DDR5 memory interface chips in 2025 compared to 2024[10] - Revenue increased by 65.78% year-over-year, driven by strong demand in the AI industry and significant growth in DDR5 memory interface and module chip shipments[13] Shareholder Information - The total number of common shareholders at the end of the reporting period was 80,212, with the top ten shareholders holding significant stakes[15] - The largest shareholder, Hong Kong Central Clearing Limited, holds 87,681,792 shares, representing 7.66% of total shares[15] Order Backlog and Future Expectations - As of April 22, 2025, the total orders for interconnect chips to be delivered in Q2 2025 exceeded RMB 1.29 billion[10] - The company has a backlog of orders for interconnect chips expected to be delivered by Q2 2025, although actual delivery may vary due to potential order cancellations or delays[17] Equity and Liabilities - Total assets as of March 31, 2025, were CNY 12,665,661,054.42, compared to CNY 12,218,911,386.38 at the end of 2024, reflecting a growth of 3.7%[20] - Total liabilities decreased to CNY 723,952,158.25 in Q1 2025 from CNY 822,405,821.47 in Q4 2024, a reduction of 12.0%[21] - Current assets increased to CNY 9,882,720,112.65 in Q1 2025, up 4.4% from CNY 9,461,304,025.38 in Q4 2024[20] - The total equity attributable to shareholders increased to CNY 11,970,248,714.03 in Q1 2025 from CNY 11,403,438,067.08 in Q4 2024, a growth of 5.0%[21] Profitability Metrics - The weighted average return on equity increased by 2.33 percentage points, indicating improved profitability[13] - The company reported a gross profit margin of approximately 41.0% in Q1 2025, compared to 32.5% in Q1 2024[23]