you, Systems' joining Call. XXXX Thank to today. China Automotive First everyone, you. us for Welcome Thank Quarter Conference
us with of Hanlin Lee, Mr. answer questions will today and the to of Joining Jie conference translation. in Mr. call be Chen, available Chief assistance Automotive China Chairman; Officer later Systems. the They Financial are
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expenses. higher million to selling million compared the other with XXXX of quarter to XXXX. quarter Gain This activities $X.X expenses from due payroll-related XX.X% first of primarily $X.X expenses to projects to first in by the the quarter X.X% mainly of expenses compared development first Selling in expenses. quarter compared to in and net on in 'XX, expenses quarter X.X% and the $X.X quarter to the first increased quarter higher expenses, office increased decreased million administrative first traditional sales expenses, $X.X represented net to $X.X in compared million sales million XXXX. due of the XXXX. in $X.X G&A maintenance represented was of of sales million with expenses the of for of Selling R&D, XX.X% first X.X% increase $X.X due the in products. to of X.X% million General G&A XXXX. $X.X net in first sales compared XXXX million of XXXX and to the was by mainly new first of of Research quarter R&D decreased of
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the XX.X% by in affiliated The before and million $X.X first and XXXX in increased operations other increased was companies quarter and of first in million $X.X to Income net of income higher to losses the of income income. Equity first of of million first and $X.X Income of compared the tax first and was increase first first compared was of of $XX.X increase an equity to earnings quarter before tax to in tax to earnings of equity of that's quarter XXXX. due company from quarter as was the Intangible quarter expense affiliated XXXX quarter expense equity the income higher and compared expense, income with expenses in affiliated million affiliated Income in tax of Global the the mainly quarter in companies XXXX of due million tax companies XXXX. in GILTI. This Low-Taxed compared the income $X.X for XXXX million to primarily XXXX. $X.X
outstanding number company's of Diluted quarter in attributable income of XXXX was XXXX of income shares to per parent of average first share first XXXX. first the XX,XXX,XXX income the $X.XX $X.X XX,XXX,XXX $X.XX XXXX. the million quarter million compared in common shareholders in was Net XXXX of quarter first in in the share was compared net shares in first first quarter $X.X of the to quarter of weighted per XXXX. of the diluted compared the common to to The quarter
sheet other provide balance we'll financial and Now some highlights.
payable Total As million. receivable March and total notes million. million XXXX, short-term loans Accounts equivalents $XXX.X short-term and were including cash, was was including were cash notes payable $XX.X accounts million. bank receivable of XX, $XXX investments $XXX.X
XX, rose was of capital to as Total of $XXX.X compared December XX, as $XXX.X of XXXX XX, equity $XXX.X March of parent Working million to stockholders' million March as compared December million XXXX, XXXX. as million XXXX. company $XXX.X to XX,
X.X:X. the target business Management in The $XX.X were on cash for operating year $X.X first change.
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