Leo Li
谢谢，Yusheng。正如Yusheng提到的，我们在第一季度继续取得进展，我想详细阐述一下未来的具体费用项目。让我们翻到第六页。这是我们提升运营效率最重要的项目。您可以看到，在最新季度，我们的销售和营销费用占收入比例达到35%，这是历史最低水平，也是我们近期运营历史上效率最高的季度。您可以看到，自2022年中以来我们已经取得了长足进步，这得益于我的销售和营销团队的辛勤工作。我们正在实现风险结果，而这种不断改善的销售和营销效率正是支撑我们运营盈利能力提升的基础，这是趋势背后最重要的因素。
接下来看第七页，我们在上次电话会议中讨论过毛利率。我们继续取得进展，本季度在这方面没有重大更新。
然后看第八页，看看我们的一般及行政费用。在上次季度电话会议中，我们谈到了人员减少、办公空间缩减以及其他固定运营规模的削减，这些都降低了我们的G&A费用。我们提到预计今年会有进一步节省，您可以看到第一季度相比去年同期，我们实现了显著下降。之前提到的因素继续为我们带来额外节省，我们将继续努力减少运营规模。
我们还想评论一下我们的现金状况，这在第九页显示。我们以5.73亿元人民币的现金余额结束了本季度。如果您将其与我们的现金流出对比，从2022年到2023年，我们已经显著减少了现金流出。我们预计2024年将取得进一步进展。我们的指引是2024年全年现金流出在1.5亿至2亿元人民币之间。今年我们还有一些监管和重要项目在进行，因此预计2025年会有额外节省。所以我们预计2025年运营现金流出将进一步下降，尽管现阶段我们还无法给出具体的量化指引。
我想将运营现金流出与我们手头的现金余额进行对比。我们看到有大约三年的现金跑道，因此我们无需急于进行任何融资。我们掌握着主动权，这为我们提供了良好的前进跑道。
第十页讨论我们的损益表。这里我对收入项目有一些评论。我们行业运营环境发生了变化，媒体对此有广泛报道，这始于去年七月。在此背景下，您可以看到我们正在加速从中心实验室向院内模式的转型。我们正在从院内获得更多收入份额。今年第一季度标志着我们从院内获得的收入首次超过中心实验室。我认为我们在这项转型中继续取得进展。您可以看到第一季度我们的院内业务已经恢复，正在实现同比和环比增长，这将成为我们收入线的长期份额增长驱动力。我们继续进入新医院，部署新产品，并预计未来赢得更多医院。这是我们临床业务最重要的收入线。
总体收入环比增长4%，这主要由院内业务线驱动。这就是我们想在此补充的评论。
关于运营费用，我们之前已经讨论过，这里想回顾一下：如果您看非GAAP毛利润减去销售、G&A费用，我们在第一季度达到了正的商业盈亏平衡点。在上次业绩电话会议中，我们表示我们的指引是在2024年上半年实现这一目标。我们非常高兴在第一季度就实现了这个目标。我们最新的指引是在2024年全年实现非GAAP毛利润减去G&A的正值，这就是我们2024年要努力实现的目标，以表明在运营层面我们的业务是盈利的。
然后我们有一些研发项目需要推进，我们将努力实现整个公司未来的正向盈亏平衡。
这就结束了我们财务部分的评论。主持人，如果没有进一步的评论或问题，我们很乐意结束本次电话会议。
Leo Li
Thank you, Yusheng. So as Yusheng mentioned, we continue to make progress in the first quarter, and I'd like to elaborate on specific expenses lines going forward. So let's go to page six. This is the most important item in our striving our operating efficiency. You can see that the latest quarter, we achieved sales and marketing expenses as a percentage of revenue at 35%, that is a historic low or the most efficient quarter in our recent operating history. You can see that we've come a long way in the middle of 2022 and that is driven by a lot of the hard work for my sales and marketing team. So we are delivering on the risk result and this improving sales and marketing efficiency is what underpins our improving operating profitability, that is the most important factor behind the trend. Then going forward on page seven, we talked about our gross profit margin in our previous call. We continue to make progress and there is no material update on this matter in this quarter. Then going to page eight, looking at our general and admin expenses. In our previous quarterly call, we talked about reduction of headcount, reduction of office space, and other fixed operating footprint that we have carried out that drops, that reduces our G&A expenses. We mentioned that we continue to expect further savings into this year, so you can see that in the first quarter we have achieved a significant drop in this quarter, compared to the same period last year. So the factors that we mentioned before they continue to give us additional savings and we will keep working hard at reducing our operating footprint. We like to also make comments on our cash position, which is shown on page nine. We ended the quarter with RMB573 million cash balance. And if you contrast that with our cash outflow, so we have reduced our cash outflow significantly from 2022 to 2023. We expect to make further progress in 2024. Our guidance is for cash outflow in a range of RMB150 million to RMB200 million for the year of 2024. We still have a couple regulatory and important projects going on for this year, so we expect additional savings into 2025. So we expect our opening cash outflow to drop further in the year 2025, although at this stage we are not at a point to give specific quantitative guidance. So I want to benchmark that operating cash outflow against the cash balance that we have on hand. We see a good three-years of cash runway, so we should be in no rush to do any capital raising. So we have the initiative on ourselves and that provides us a good runway going forward. Page 10 talks about our P&L And here I have some comments on the revenue lines. So we had a change in our industry's operating environment and that was well reported by the press, which started in July last year. Within that context, you can see that we are accelerating our transition away from central lab and more towards in-hospital. So we are getting more share of revenue from in-hospital. And first quarter this year marks the first quarter where we're getting more revenues from in-hospital than from central lab. So I think we are continuing to make progress in that transition. You can see in the first quarter we have recovered the in-hospital business. It is growing on a year-over-year and sequential basis, and that is going to be the long-term share growth driver for our revenue lines. We continue to get into new hospitals, deploy new products, and we expect to win more hospitals going forward. So this is the most important line for our clinical business. So the overall revenue is up 4% on a quarter-over-quarter basis and that's mostly driven by the in-hospital line. So that is the additional comments we'd like to add here. On the operating expenses, we've talked about them before and we'd like to recap here that if you look at the non-GAAP gross profit and minus sales, G&A expenses, we are at a positive commercial breakeven point in first quarter. In the previous results call, we said that our guidance was to achieve this objective in the first-half of 2024. And we are very pleased that we hit that goal in the first quarter. Our latest guidance is to achieve positive non-GAAP gross profit minus G&A for the whole year of 2024, so that is what we're working on for the year of 2024 to show that on the operating level, our business are profitable. Then we have a few R&D items that we're going to work through, and we're going to work towards a positive breakeven for the whole company going forward. So that concludes the remarks for our financial section. And operator, if there are no further remarks or questions then we're happy to conclude the call.
