2024 Q1 Form 20-F Financial Statement

#000101376224002659 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2024 2023 Q1
Revenue $172.2M 172.2M cnies $200.5M
YoY Change -14.16% 489.9% -27.21%
Cost Of Revenue $163.3M $23.01M $170.5M
YoY Change -4.22% -7.24% -34.86%
Gross Profit $8.870M $1.250M $30.07M
YoY Change -70.5% -71.43% 118.1%
Gross Profit Margin 5.15% 0.73% 14.99%
Selling, General & Admin $47.22M $6.634M $117.8M
YoY Change -59.92% -61.3% 143.58%
% of Gross Profit 532.34% 530.72% 391.83%
Research & Development 16.60M cnies
YoY Change 3.75%
% of Gross Profit 1328.0%
Depreciation & Amortization $3.499M 5.700M cnies $3.192M
YoY Change 9.62% 23.91% 55.18%
% of Gross Profit 39.45% 456.0% 10.62%
Operating Expenses $43.88M $5.498M $117.3M
YoY Change -62.59% -66.89% 157.09%
Operating Profit -$35.01M -$4.248M -$87.22M
YoY Change -59.86% -65.27% 173.97%
Interest Expense $1.256M $510.0K -$2.970M
YoY Change -142.29% -43.02% -58.7%
% of Operating Profit
Other Income/Expense, Net 8.057M cnies
YoY Change 77.74%
Pretax Income -$33.76M -$4.758M -$90.19M
YoY Change -62.57% -63.75% 129.06%
Income Tax -$171.0K -171.0K cnies -$171.0K
% Of Pretax Income
Net Earnings -$60.88M -$8.581M -$87.62M
YoY Change -30.51% -32.7% 125.62%
Net Earnings / Revenue -35.37% -4.98% -43.69%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.67 -$3.67 -$7.80
COMMON SHARES
Basic Shares Outstanding 392.1M shares 16.55M shares
Diluted Shares Outstanding 16.55M shares

Balance Sheet

Concept 2024 Q1 2024 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.68M $76.68M $71.93M
YoY Change 6.59% 6.59% 7.86%
Cash & Equivalents $10.81M $76.68M $10.54M
Short-Term Investments
Other Short-Term Assets $435.3M $435.3M $34.50M
YoY Change 1161.74% 566.33% 6899900.0%
Inventory 11.03M cnies $11.03M $2.353M
Prepaid Expenses
Receivables $4.262M $30.24M $7.612M
Other Receivables 553.0K cnies $24.84M $31.26M
Total Short-Term Assets $81.48M $578.1M $34.49M
YoY Change 136.24% 143.92% 13.49%
LONG-TERM ASSETS
Property, Plant & Equipment 54.19M cnies $70.43M $8.939M
YoY Change 506.2% -5.41% 48.29%
Goodwill
YoY Change
Intangibles $93.00K $244.0K
YoY Change -61.89% -40.2%
Long-Term Investments
YoY Change
Other Assets $22.00K $770.0K
YoY Change
Total Long-Term Assets $10.13M $71.86M $11.08M
YoY Change -8.58% -5.61% 21.85%
TOTAL ASSETS
Total Short-Term Assets $81.48M $578.1M $34.49M
Total Long-Term Assets $10.13M $71.86M $11.08M
Total Assets $91.61M $649.9M $45.57M
YoY Change 101.03% 107.56% 15.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.95M $106.1M $18.44M
YoY Change -18.9% -16.26% 57.04%
Accrued Expenses $19.53M $19.53M $22.88M
YoY Change -14.64% -14.64% 51.85%
Deferred Revenue
YoY Change
Short-Term Debt $8.027M $56.95M $7.849M
YoY Change 2.27% 5.59% 39.27%
Long-Term Debt Due $2.886M $157.0K
YoY Change 167.22% 24.6%
Total Short-Term Liabilities $38.45M $272.8M $35.75M
YoY Change 7.55% 11.05% 39.13%
LONG-TERM LIABILITIES
Long-Term Debt $3.117M 1.080M cnies
YoY Change -54.63% 35.0%
Other Long-Term Liabilities $11.28M $11.28M 6.440M cnies
YoY Change 75.14% -42.37% -55.74%
Total Long-Term Liabilities $2.302M $14.40M $3.892M
YoY Change -40.85% -45.56% 7.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.45M $272.8M $35.75M
Total Long-Term Liabilities $2.302M $14.40M $3.892M
Total Liabilities $40.50M $282.1M $39.64M
YoY Change 2.16% 4.87% 35.19%
SHAREHOLDERS EQUITY
Retained Earnings -$29.43M -$25.60M
YoY Change 14.99% -71.0%
Common Stock $39.00K $1.000K
YoY Change 3800.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.84M $367.8M $6.414M
YoY Change
Total Liabilities & Shareholders Equity $91.61M $649.9M $45.57M
YoY Change 101.03% 107.56% 15.42%

Cashflow Statement

Concept 2024 Q1 2024 2023 Q1
OPERATING ACTIVITIES
Net Income -$60.88M -$8.581M -$87.62M
YoY Change -30.51% -32.7% 125.62%
Depreciation, Depletion And Amortization $3.499M 5.700M cnies $3.192M
YoY Change 9.62% 23.91% 55.18%
Cash From Operating Activities -$363.1M -$53.02M -$10.45M
YoY Change 3373.91% 2306.76% 713.39%
INVESTING ACTIVITIES
Capital Expenditures $971.0K $137.0K $696.0K
YoY Change 39.51% -63.66% -10.19%
Acquisitions
YoY Change
Other Investing Activities $6.491M $6.491M $0.00
YoY Change -100.0%
Cash From Investing Activities $5.520M $778.0K -$696.0K
YoY Change -893.1% -284.36% -186.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $49.33M
YoY Change
Debt Paid & Issued, Net $1.121M
YoY Change 28.85%
Cash From Financing Activities 352.6M $52.46M 11.34M
YoY Change 3008.9% 1870.51% -4461.92%
NET CHANGE
Cash From Operating Activities -363.1M -$53.02M -10.45M
Cash From Investing Activities 5.520M $778.0K -696.0K
Cash From Financing Activities 352.6M $52.46M 11.34M
Net Change In Cash -4.993M $668.0K 193.0K
YoY Change -2687.05% -12.45% -126.01%
FREE CASH FLOW
Cash From Operating Activities -$363.1M -$53.02M -$10.45M
Capital Expenditures $971.0K $137.0K $696.0K
Free Cash Flow -$364.1M -$53.16M -$11.15M
YoY Change 3165.73% 1960.39% 441.17%

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CY2024 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2024 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2023 us-gaap Operating Expenses
OperatingExpenses
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CY2024 us-gaap Operating Expenses
OperatingExpenses
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CY2024 us-gaap Operating Expenses
OperatingExpenses
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CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2024 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2024 us-gaap Operating Income Loss
OperatingIncomeLoss
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InterestExpense
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CY2024 us-gaap Interest Expense
InterestExpense
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CY2024 us-gaap Interest Expense
InterestExpense
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2024 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
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CY2024 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
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CY2023 us-gaap Discontinued Operation Amount Of Adjustment To Prior Period Gain Loss On Disposal Before Income Tax
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CY2024 us-gaap Discontinued Operation Amount Of Adjustment To Prior Period Gain Loss On Disposal Before Income Tax
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CY2024 us-gaap Discontinued Operation Amount Of Adjustment To Prior Period Gain Loss On Disposal Before Income Tax
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2024 us-gaap Profit Loss
ProfitLoss
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CY2024 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2024 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2024 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2024 us-gaap Net Income Loss
NetIncomeLoss
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CY2024 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2024 us-gaap Net Income Loss
NetIncomeLoss
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CY2024 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2024 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2024 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2023 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2024 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2024 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2024 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2024 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16550762 shares
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16550762 shares
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
64468000 cny
CY2023 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024 us-gaap Profit Loss
ProfitLoss
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CY2024 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2024 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
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CY2024 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
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CY2024 utme Stock Issued During Period Value Disposal Of Discontinue Operation
StockIssuedDuringPeriodValueDisposalOfDiscontinueOperation
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CY2024 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2024 us-gaap Profit Loss
ProfitLoss
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CY2024 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2024 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2024 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2024 us-gaap Depreciation And Amortization
DepreciationAndAmortization
6736000 cny
CY2024 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2023 us-gaap Inventory Write Down
InventoryWriteDown
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CY2024 us-gaap Inventory Write Down
InventoryWriteDown
688000 cny
CY2024 us-gaap Inventory Write Down
InventoryWriteDown
97000 usd
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
152000 cny
CY2024 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
21000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
63656000 cny
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
8892000 cny
CY2024 us-gaap Share Based Compensation
ShareBasedCompensation
1253000 usd
CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2024 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
27463000 cny
CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2024 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
22908000 cny
CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
361724000 cny
CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2024 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2024 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18217000 cny
CY2024 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2024 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
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CY2024 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
4213000 cny
CY2024 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
594000 usd
CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
877000 cny
CY2024 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
2949000 cny
CY2024 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
416000 usd
CY2023 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
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CY2024 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
2542000 cny
CY2024 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
358000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2023 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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CY2024 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
246000 cny
CY2024 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2593000 cny
CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
971000 cny
CY2024 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
137000 usd
CY2023 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
307000 cny
CY2024 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6500000 cny
CY2024 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
916000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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CY2024 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
5529000 cny
CY2024 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
779000 usd
CY2024 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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CY2024 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
5520000 cny
CY2024 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
778000 usd
CY2023 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
66300000 cny
CY2024 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
60571000 cny
CY2024 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
8537000 usd
CY2023 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
4010000 cny
CY2024 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
41796000 cny
CY2024 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
5891000 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
3000000 cny
CY2024 us-gaap Repayments Of Debt
RepaymentsOfDebt
14200000 cny
CY2024 us-gaap Repayments Of Debt
RepaymentsOfDebt
2001000 usd
CY2023 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
48145000 cny
CY2024 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
57557000 cny
CY2024 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
8112000 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
870000 cny
CY2024 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7950000 cny
CY2024 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1121000 usd
CY2024 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
350001000 cny
CY2024 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
49331000 usd
CY2024 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
498000 cny
CY2024 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
70000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18295000 cny
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
372163000 cny
CY2024 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
52455000 usd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4985000 cny
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3234000 cny
CY2024 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
456000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5242000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4741000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
668000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67192000 cny
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72434000 cny
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10209000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72434000 cny
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77175000 cny
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10877000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
14000 cny
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
72420000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
77175000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
10877000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
4075000 cny
CY2024 us-gaap Interest Paid Net
InterestPaidNet
3635000 cny
CY2024 us-gaap Interest Paid Net
InterestPaidNet
512000 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
500000 cny
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
500000 cny
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
70000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71920000 cny
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76675000 cny
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10807000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
72420000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
77175000 cny
CY2024 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
10877000 usd
CY2018Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
9600000 cny
CY2024 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000000 cny
CY2024Q1 us-gaap Other Additional Capital
OtherAdditionalCapital
16200000 cny
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
100000 shares
CY2019Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
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CY2024 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
15000 shares
CY2024Q1 us-gaap Share Price
SharePrice
1
CY2019Q2 utme Purchased Aggregate Ordinary Shares Amount
PurchasedAggregateOrdinarySharesAmount
377514 usd
CY2024 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4517793 shares
CY2024 utme Percentage Of Common Stock After Repurchase
PercentageOfCommonStockAfterRepurchase
63.5 usd
CY2024 us-gaap Management And Service Fees Rate
ManagementAndServiceFeesRate
1 pure
CY2023Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
4240000 usd
CY2024Q1 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
1441000 usd
CY2023Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
3171000 usd
CY2024Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
1929000 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><i><span style="text-decoration:underline">Use of estimates</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of the consolidated financial statements in conformity with US GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Management evaluates these estimates and assumptions on a regular basis. Significant accounting estimates reflected in the Company’s consolidated financial statements include but are not limited to estimates and judgments applied in the allowance for receivables, write down of other assets, estimated useful lives of property and equipment, impairment on inventory, sales return, product warranties, the valuation allowance for deferred tax assets and income tax and contingencies. Actual results could differ from those estimates and judgments.</p>
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Concentration of credit risk and major customers</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, accounts receivable and other current assets. The maximum exposure of such assets to credit risk is their carrying amounts as at the balance sheet dates. <span style="-sec-ix-hidden: hidden-fact-80">As of March 31, 2023 and 2024, the aggregate amounts of cash and cash equivalents, and restricted cash are RMB72.4million and RMB77.2 million respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To limit exposure to credit risk relating to deposits, the Company primarily place cash deposits with large financial institutions in PRC. The Company conducts credit evaluations of its customers, and generally does not require collateral or other security from them. The Company establishes an accounting policy for allowance for doubtful accounts on the individual customer’s financial condition, credit history, and the current economic conditions. As of March 31, 2023 and 2024, the Company recorded RMB0.1 million and RMB0.3 million of allowances for accounts receivable, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major customers and accounts receivable — During the year ended March 31, 2023, the Company had three customers that accounted over 10% of revenues, and revenue from the customers amounted to RMB44.4 million, RMB25.9 million and RMB25.8 million, respectively, relate to OEM/ ODM services segment. The Company had four customers that accounted over 10% of total accounts receivable at March 31, 2023, amounting to RMB14.0 million, RMB11.9 million, RMB9.4 million and RMB8.6 million, respectively. During the year ended March 31, 2024, the Company had three customers that accounted over 10% of revenues, and revenue from the customers amounted to RMB37.8 million, RMB24.3 million and RMB20.0 million, respectively, relate to OEM/ ODM services segment. The Company had four customers that accounted over 10% of total accounts receivable at March 31, 2024, amounting to RMB11.0 million, RMB6.0 million, RMB4.5 million and RMB3.9 million, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major suppliers —During the year ended March 31, 2023, the Company had no supplier accounted over 10% of total purchases. During the year ended March 31, 2024, the Company had two suppliers accounted over 10% of total purchases and processing fees from the supplier amounted to RMB56.9 million.</p>
CY2024Q1 us-gaap Restricted Cash Equivalents
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CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2022 us-gaap Other Income
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CY2023 us-gaap Other Income
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CY2024 us-gaap Other Income
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CY2023 us-gaap Revenues
Revenues
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CY2024 us-gaap Revenues
Revenues
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4575000 cny
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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4575000 cny
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2022 us-gaap Advertising Expense
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100000 cny
CY2023 us-gaap Advertising Expense
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100000 cny
CY2022 utme Shipping And Handling Fees Amount
ShippingAndHandlingFeesAmount
1400000 cny
CY2023 utme Shipping And Handling Fees Amount
ShippingAndHandlingFeesAmount
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CY2024 utme Shipping And Handling Fees Amount
ShippingAndHandlingFeesAmount
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CY2022 us-gaap Research And Development Expense
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CY2023 us-gaap Research And Development Expense
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CY2024 us-gaap Research And Development Expense
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CY2022 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1100000 cny
CY2023 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
1300000 cny
CY2024 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
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CY2024 utme Registered Capital Percentage
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0.50 pure
CY2024 utme Reserves And Surplus Percentage
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0.10 pure
CY2024Q1 us-gaap Foreign Currency Exchange Rate Translation1
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y7M9D
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y7M9D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.07 pure
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q1 us-gaap Accounts Receivable Net
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CY2024Q1 us-gaap Accounts Receivable Net
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CY2022Q1 us-gaap Allowance For Doubtful Other Receivables Current
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CY2024 utme Allowance For Doubtful Other Receivables Reversal
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CY2023 utme Foreign Currency Translation Difference
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CY2024 utme Foreign Currency Translation Difference
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CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q1 us-gaap Supplies
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CY2023Q1 utme Receivables From Supply Chain Service Providers
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CY2023Q1 us-gaap Other Prepaid Expense Current
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CY2024Q1 us-gaap Other Prepaid Expense Current
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CY2023Q1 utme Prepaid Expenses Allowance For Doubtful Accounts
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CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2023 us-gaap Payments To Acquire Equipment On Lease
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2024Q1 us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
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CY2024Q1 us-gaap Proceeds From Hedge Financing Activities
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CY2024Q1 us-gaap Cost Of Goods Sold Sales Type Lease
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CY2024Q1 us-gaap Cost Of Goods Sold Sales Type Lease
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CY2024Q1 us-gaap Lessee Operating Lease Remaining Lease Term
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P5Y
CY2024Q1 us-gaap Sale Leaseback Transaction Imputed Interest Rate
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CY2024Q1 us-gaap Inventory Work In Process
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CY2023Q1 us-gaap Inventory Finished Goods
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CY2024Q1 us-gaap Inventory Finished Goods
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CY2023Q1 us-gaap Inventory Gross
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26402000 cny
CY2024Q1 us-gaap Inventory Gross
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CY2023Q1 us-gaap Inventory Valuation Reserves
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CY2024Q1 us-gaap Inventory Valuation Reserves
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CY2023Q1 us-gaap Inventory Net
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CY2024Q1 us-gaap Inventory Net
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CY2023Q1 us-gaap Property Plant And Equipment Gross
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81987000 cny
CY2024Q1 us-gaap Property Plant And Equipment Gross
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79608000 cny
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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20580000 cny
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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25420000 cny
CY2023Q1 us-gaap Property Plant And Equipment Net
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61407000 cny
CY2024Q1 us-gaap Property Plant And Equipment Net
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CY2022 us-gaap Depreciation
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3300000 cny
CY2023 us-gaap Depreciation
Depreciation
4600000 cny
CY2024 us-gaap Depreciation
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5700000 cny
CY2023Q1 us-gaap Property Subject To Or Available For Operating Lease Gross
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CY2024Q1 us-gaap Property Subject To Or Available For Operating Lease Gross
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CY2023Q1 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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CY2024Q1 us-gaap Property Subject To Or Available For Operating Lease Accumulated Depreciation
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CY2023Q1 utme Property Plant And Equipment Net Net Book Value
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CY2024Q1 us-gaap Operating Leases Income Statement Carrying Amount At Lease Inception Exceeds Fair Value
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6450000 cny
CY2024 us-gaap Adjustment For Amortization
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CY2024 us-gaap Finance Lease Interest Expense
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100000 cny
CY2024 us-gaap Sale And Leaseback Transaction Gain Loss Net
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Three
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CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Four
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CY2024 utme Equity Method Investment Cost
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CY2023Q1 us-gaap Short Term Bank Loans And Notes Payable
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CY2024Q1 us-gaap Short Term Bank Loans And Notes Payable
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CY2023Q1 us-gaap Long Term Debt
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CY2023Q1 us-gaap Long Term Debt Noncurrent
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CY2020Q4 us-gaap Line Of Credit
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CY2023Q1 utme Advance From Customers
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CY2023Q1 us-gaap Accrued Payroll Taxes Current
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CY2024 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2024 us-gaap Income Tax Expense Benefit Continuing Operations Government Grants
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CY2023 us-gaap Nonoperating Income Expense
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CY2024 us-gaap Nonoperating Income Expense
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CY2022 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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CY2024 utme Withholding Tax Rate
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2024 us-gaap Deferred Income Tax Expense Benefit
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CY2023Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Impairment Losses
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CY2023Q1 us-gaap Deferred Tax Assets Inventory
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CY2023Q1 us-gaap Contract With Customer Liability
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CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q1 us-gaap Tax Credit Carryforward Amount
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CY2023Q1 us-gaap Tax Credit Carryforward Amount
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