OPT Machine Vision Tech (688686) Q1 2024 earnings summary

Executive summary

• Q1 revenue fell 9.53% YoY to RMB 226,715,956.09; net income attributable to shareholders declined 12.67% to RMB 57,301,927.62.

• Adjusted for non-recurring items, attributable net income was RMB 48,913,509.40, down 16.65% YoY.

Financial highlights

• Operating costs totaled RMB 172,474,583.40 versus RMB 184,323,842.53 in Q1 2023; operating income was RMB 226,715,956.09.

• Non-recurring gains net of related effects totaled RMB 8,388,418.22 for the quarter.

• Total assets rose 3.80% from year-end 2023 to RMB 3,162,934,916.06; attributable shareholders’ equity rose 2.03% to RMB 2,936,604,113.34.

Key financial ratios and metrics

• Basic and diluted EPS were both RMB 0.4688, down 12.78% YoY; weighted average ROE was 1.97%, down 0.38 percentage points.

• R&D expense was RMB 48,577,247.64, up 5.97% YoY; R&D as a share of revenue was 21.43%, up 3.14 percentage points.

• Operating cash flow was negative RMB 2,923,255.42, versus negative RMB 6,096,541.38 in Q1 2023; the reported explanation cited higher collections and interest income YoY.