Group 1 - The core point of the article is the official launch of the Chongqing Wushan-Nanjing Wushan Crisp Li air transport route by China Post, marking a significant step in promoting local agricultural products and enhancing logistics for rural revitalization [1][4]. - The Wushan Crisp Li, a nationally recognized geographical indication product, is positioned as an ecological agricultural brand, benefiting from the development opportunities in the Chengdu-Chongqing economic circle [4]. - The air transport route will operate daily from July 5 to July 30, 2023, facilitating the rapid delivery of high-quality agricultural products across the country within 24 hours [5]. Group 2 - The Wushan airport, known as a "cloud airport," is situated at an altitude of 1771.48 meters, which presents unique operational challenges that have been addressed by China Post's aviation and ground support teams [5]. - In addition to the Wushan-Nanjing route, China Post has launched six summer express air routes this year, enhancing the logistics network for various agricultural products [5].

Core Viewpoint - The 2025 Global Digital Economy Conference highlighted the importance of high-quality data set construction and the establishment of a trusted data space as key focus areas for future data circulation [1][3]. Group 1: Data Circulation Infrastructure - Beijing Capital Information Development Co., Ltd. is leading the construction of a "Data Circulation Utilization Value-Added Collaboration Network" to address the supply-demand mismatch of high-quality data sets [3]. - The data circulation platform has officially launched, offering nearly 4,000 data products across 12 application scenarios and aggregating over 300 market entities [3]. - The company aims to enhance the market by increasing the availability of high-quality data sets on the platform, facilitating the flow and transaction of data between supply and demand sides [3]. Group 2: Trusted Data Space - The establishment of a trusted data space is a critical focus area, serving as a virtual computing environment where data providers and users can access and perform computations on encrypted data [4]. - This environment ensures that data is "available but not visible," providing reliable support for the market-oriented circulation of data elements [4]. - The company has already launched several solutions related to the trusted data space, with corresponding practical applications underway [4].

Group 1 - The London Metal Exchange (LME) reported various changes in registered and canceled warehouse receipts for different metals [1] - Copper registered warehouse receipts totaled 56,625 tons, with 36,450 tons canceled, resulting in a decrease of 775 tons [1] - Aluminum registered warehouse receipts amounted to 322,850 tons, with 14,050 tons canceled, leading to a decrease of 2,050 tons [1] - Nickel registered warehouse receipts reached 191,952 tons, with 12,264 tons canceled, showing a decrease of 1,410 tons [1] - Zinc registered warehouse receipts were at 89,075 tons, with 30,775 tons canceled, reflecting a decrease of 2,225 tons [1] - Lead registered warehouse receipts stood at 201,075 tons, with 72,175 tons canceled, indicating an increase of 1,275 tons [1] - Tin registered warehouse receipts totaled 1,430 tons, with 685 tons canceled, resulting in a decrease of 15 tons [1]

Financial Performance - Total revenue for 2024 is projected to be RMB 1,472,387,000, representing a slight increase from RMB 1,425,582,000 in 2023[12]. - The company reported a net loss attributable to shareholders of RMB 13,781,000 for 2024, compared to a net loss of RMB 72,906,000 in 2023[12]. - The total assets decreased to RMB 2,362,293,000 in 2024 from RMB 2,496,823,000 in 2023[12]. - The company achieved a record revenue of RMB 1,472.39 million in 2024, marking a historical high and maintaining its position in the top 100 of Beijing's software and information service industry for three consecutive years[22]. - The company reported a loss attributable to shareholders of RMB 13.78 million for the year[42]. - The gross profit for 2024 was RMB 377.97 million, a decrease of 5.28% year-on-year[42]. - The total profit reached RMB 5.12 million, a significant improvement of RMB 95.35 million compared to a loss of RMB 90.23 million in the previous year[28]. - The company reduced its attributable loss to RMB 13.78 million, a decrease of RMB 59.13 million year-on-year[28]. - The revenue from product and software development and services was RMB 434.42 million, a decrease of 0.25%, accounting for 29.50% of total revenue[44]. - Revenue from industry solutions was RMB 337.17 million, down 13.72%, representing 22.90% of total revenue[44]. - Operating and maintenance service revenue increased by 17.89% to RMB 687.97 million, making up 46.72% of total revenue[44]. Corporate Governance - The company’s board of directors includes members with extensive backgrounds in finance and management, enhancing governance and oversight[89][90]. - The company has five independent directors, meeting the minimum requirement set by the listing rules, with expertise in finance, law, auditing, and information technology[119]. - The independent directors actively participated in board and shareholder meetings, ensuring fair and objective decision-making[120]. - The governance structure includes a general meeting of shareholders, a party committee, a board of directors, a supervisory board, and a management team, ensuring effective checks and balances[140]. - The company has established comprehensive governance documents to regulate its operations and ensure compliance with laws and regulations[141]. - The board consists of 12 members, with 10 being independent directors, ensuring strong independent judgment[142]. - The audit committee is composed entirely of independent non-executive directors with legal and accounting qualifications[142]. - The company has established a Legal and Compliance Committee, which consists of 3 members, with a term ending on June 17, 2027[194]. - The company emphasizes the importance of board diversity and will disclose its diversity policy and review results annually[186]. Strategic Initiatives - The company plans to continue expanding its services in smart governance, smart healthcare, and digital transformation for enterprises[7]. - The company is focusing on enhancing its product capabilities through talent acquisition, optimization of the IPD development process, and organizational restructuring[23]. - The company aims to increase the proportion of software products and revenue from outside Beijing, striving to transform into a national company based in Beijing[23]. - The company is committed to advancing its "Hongtang" and "Hongsun" product series, while developing core technology frameworks for CCAF, "Hongti" large models, and "Hongpan" data platforms[23]. - The company is set to focus on six new reform directions in 2025, aiming for breakthroughs in product and regional expansion, as well as improvements in the proportion of software and data business[24]. Research and Development - The company has established a postdoctoral research workstation to promote independent innovation and research成果孵化[8]. - The company has been recognized as a national high-tech enterprise and has received multiple industry honors, including being listed among the "2024 Beijing Top 100 Enterprises"[9]. - The company has launched new products such as the "Red Zhi" large model and "Jing An Fu" which have been recognized in various industry honor lists[9]. - The company completed the development of its "Hongti" large model, which was recognized as a typical application case at the 2024 Global Digital Economy Conference[37]. Risk Management and Compliance - The company has faced various risk factors and uncertainties, which are addressed in the financial statements[78]. - The company has established a risk management and internal control system, ensuring adequate resources and training for accounting and financial reporting functions[172]. - The company has adhered to legal and regulatory requirements regarding related party transactions and information disclosure, preventing illegal transactions[122]. - The independent auditor found no issues indicating that the disclosed continuing connected transactions were not approved by the board of directors[110]. Shareholder Information - The company reported a final dividend of RMB 0.07 per share for the year ending December 31, 2024, totaling RMB 202.9 million, compared to no dividend in 2023[79]. - The company has not proposed an interim dividend for the reporting period[79]. - Major shareholder Beijing State-owned Assets Management Co., Ltd. holds 183,454,176 shares, representing 63.31% of the issued share capital[94]. - The top five customers account for approximately 31.67% of total revenue, with the largest customer contributing about 10.79%[94]. Legal Matters - The company is involved in a legal dispute regarding the acquisition of Rongtong Information, with a claim for RMB 335,995,436.60 in damages[96]. - The company has no major legal disputes or arbitrations other than the aforementioned case[96]. Management and Directors - Zhao Shujie appointed as non-executive director in December 2023, brings extensive management experience from Beijing Telecom Investment Co., Ltd. and China Unicom[54]. - Xin Shuangbai appointed as non-executive director in June 2023, currently leads strategic planning at Beijing Gehua Media Group, with a background in international finance and media operations[55]. - Jiang Wei serves as general manager of financial management at China Financial Electronic Group, with a strong background in financial management and auditing since 2022[56]. - The total compensation for the executive directors is as follows: Mr. Yu Donghui (Chairman) received RMB 110.85 million, and Mr. Zhang Yiqian (General Manager) received RMB 116.54 million[181]. - The annual compensation for senior management is within the range of RMB 1.5 million[182].

首都信息 20250410 2025-04-11 摘要 • 首都信息 2024 年营收 14.72 亿元，同比增长 3.28%，但归母净利润亏损 1,378 万元，同比减亏 5,913 万元，资产负债率降至 49.49%。毛利率从 27.99%下降至 25.67%，主要由于民生项目研发投入增加，预计 2025 年恢复。 • 公司主营业务收入中，运维及运营服务占比 46.7%，产品软件开发及服务 占比 29.5%，行业解决方案占比 22.9%。未来增长点聚焦于大数据和人 工智能业务，并加强自主创新能力。 • 在人工智能领域，首都信息参与北京市人工智能基础设施建设，并积极与 北京本地及国内厂商合作，专注于行业应用大模型研发，尤其是在政务、 数据处理等垂直领域打造核心竞争力。 • 公司正在积极推进新三板挂牌工作，具体挂牌时间待定。管理层对新三板 挂牌充满信心，并采取措施提升市值管理，包括提升业绩、保持稳定分红 政策及开展市场推广活动。 • 公司坚持高股息政策回馈股东，尽管归母净利润仍然亏损，但为提振投资 者信心，董事会建议派发每年股息。管理层关注公司市值，并采取措施应 对股价下跌，包括深化改革、推进新三板挂牌及确保 ...

Financial Performance - The company reported a loss attributable to owners of RMB 137.8 million for the year ended December 31, 2024[4]. - Operating revenue increased by 3.28% to RMB 1,472.39 million compared to the previous year[4]. - Basic loss per share was RMB 0.048, compared to a loss of RMB 0.025 per share in 2023[4]. - Operating revenue for the current period reached approximately $1.47 billion, an increase of 3.5% compared to the previous period's $1.43 billion[10]. - Operating profit for the current period was approximately $13.39 million, a significant recovery from a loss of approximately $90.42 million in the previous period[10]. - Net profit for the current period was approximately -$6.29 million, improving from a net loss of approximately -$62.09 million in the previous period[10]. - The total comprehensive income for the current period was approximately -$6.29 million, compared to -$62.09 million in the previous period[11]. - Total profit amounted to RMB 5.12 million, a significant improvement of RMB 95.35 million from a loss of RMB 90.23 million in the previous year[61]. - The attributable loss to shareholders was RMB 13.78 million, a reduction of RMB 59.13 million compared to the previous year's loss[56]. Assets and Liabilities - Total current assets decreased to RMB 1,501.36 million from RMB 1,592.40 million year-over-year[6]. - Total liabilities decreased to RMB 1,169.19 million from RMB 1,294.01 million year-over-year[7]. - Total assets decreased to RMB 2,362.29 million from RMB 2,496.82 million year-over-year[8]. - Shareholders' equity attributable to the parent company decreased to RMB 1,127.90 million from RMB 1,144.95 million year-over-year[8]. - Cash and cash equivalents decreased to RMB 723.37 million from RMB 814.10 million year-over-year[6]. - The group’s total assets decreased by 5.39% to RMB 2,362.29 million as of December 31, 2024[72]. - The group’s bank deposits and cash decreased by 11.14% to RMB 723.37 million compared to the previous year[72]. Dividends - The board proposed a final dividend of RMB 0.07 per share for the year ended December 31, 2024, compared to no dividend in 2023[4]. - The company proposed a cash dividend of RMB 0.07 per share, totaling RMB 20.29 million, pending shareholder approval[58]. - The company is obligated to withhold corporate income tax at a rate of 10% on dividends distributed to non-resident corporate shareholders listed on the H-share register[77]. - To qualify for the proposed final dividend, shareholders must submit the necessary transfer documents by June 25, 2025[79]. Taxation - The company obtained a high-tech enterprise certificate on October 26, 2023, allowing a reduced corporate income tax rate of 15% for three years[31]. - The company has no taxable profits for the year from its subsidiary, Shouxin Hong Kong[31]. - The company’s main tax rates include a corporate income tax rate of 25% and a value-added tax rate ranging from 5% to 13%[29]. - The company benefits from small and micro enterprise income tax incentives, with a reduced rate applicable until December 31, 2027[33]. Accounts Receivable and Payable - The total accounts receivable at the end of the period is $661,137,403.58, an increase from $656,305,725.61 at the end of the previous year[39]. - The provision for bad debts increased to $206,596,490.98, up from $192,943,781.91 year-over-year, reflecting a loss rate of 31.25%[40]. - The company made a provision of $51,361.59 for bad debts during the current period, bringing the ending balance to $52,370.78[38]. - The total accounts payable at the end of the period is RMB 575,719,949.40, up from RMB 398,969,828.62 at the end of the previous year[48]. - The electronic government sector accounts for 76.84% of the total accounts receivable, with a provision of $122,231,616.12 at a loss rate of 24.06%[42]. - The electronic commerce sector has a loss rate of 51.54%, with a provision of $73,123,224.66[42]. Governance and Compliance - The company has established a governance structure including a shareholders' meeting, party committee, board of directors, and supervisory board[12]. - The financial statements are prepared based on the going concern assumption and comply with relevant accounting standards[14]. - The company has complied with all provisions of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules during the year and thereafter[80]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2024, including the accounting principles adopted by the group[83]. Business Operations - The company operates in the software industry, focusing on network application services and system integration[13]. - The company is actively expanding its digital infrastructure, securing orders from 27 first-level and 42 second-level municipal enterprises[62]. - The company completed the implementation of a zero-trust project for the government network security access platform, enhancing network security management capabilities[62]. - The company launched a medical insurance emergency settlement system, ensuring stable operation of the medical insurance information platform[63]. - The average daily transaction volume for medical insurance mobile payment reached over 40,000 transactions, with over 200 medical institutions connected[63]. - The group accumulated user data of nearly 4 million through the "Hongguozi" digital platform, enhancing data analysis capabilities[65]. - The group plans to strengthen its marketing system and brand development as part of its "industry, product, and regional" strategy[68]. Employee Information - The group has a total of 1,765 employees as of December 31, 2024, an increase from 1,624 in 2023, with R&D personnel numbering 1,284[69]. Risk Management - The board regularly reviews the risk management and internal control systems to ensure their effectiveness[85]. - There were no significant events after December 31, 2024, that would materially affect the group's operational and financial performance as of the announcement date[84]. Future Reporting - The 2024 annual report will be sent to shareholders and published on the stock exchange and the company's website for investor access[86].

CAP Capinfo Company Limited (a joint stock limited company incorporated in the People's Republic of China with limited liability) ( 於 中 攀 人 民 共 和 國 註 冊 成 立 之 設 份 有 限 公 司 ) (Stock Code 股份代號：1075) 0 2024 /Interim Report 中期報告 ● 目錄 7 企業管治 16 投資者參考資料 17 審閱報告 19 合併資產負債表 24 合併利潤表 27 合併現金流量表 29 合併股東權益變動表 33 財務報表附註 2 管理層討論與分析 87 釋義 2 首都信息發展股份有限公司 管理層討論與分析 業務回顧 2024年上半年，本集團勇於迎接改革深化提升對體制機制建設帶來的挑戰，堅定不移實施 公司「十四五」戰略規劃和公司改革方案，落實落細各項舉措，奮力實現全年目標任務。 截止2024年6月30日止6個月，本集團實現主營業務收入為人民幣533.55百萬元，較去年同 期增長12.52%。 報告期內，本集團不斷優化完善「一核、 ...

Financial Performance - The company reported a revenue increase of 11.56% year-on-year, reaching RMB 538.13 million for the six months ending June 30, 2024[2]. - The net profit attributable to shareholders decreased by 164.54% year-on-year, resulting in a loss of RMB 23.92 million[2]. - Basic loss per share was RMB 0.0825[6]. - Operating profit for the first half of 2024 was a loss of RMB 11.52 million, compared to a profit of RMB 47.32 million in the same period last year[5]. - The company reported a net loss of RMB 11.25 million for the first half of 2024, compared to a net profit of RMB 42.94 million in the same period last year[6]. - The gross profit for the first half of 2024 was RMB 157.68 million, a decrease of 21.94% year-on-year[33]. - The company reported a net loss attributable to ordinary shareholders of RMB -23,920,445.62 for the first half of 2024, resulting in a basic earnings per share of -0.0825[25]. - The company’s other income decreased by 44.11% to RMB 4.58 million, primarily due to reduced rental income from the Digital Beijing Building[33]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 2,435.93 million, a decrease from RMB 2,496.82 million at the end of 2023[4]. - Total liabilities decreased from RMB 1,294.01 million at the end of 2023 to RMB 1,234.34 million[4]. - The company’s accounts payable decreased to RMB 282,589,727.66 as of June 30, 2024, from RMB 398,969,828.62 at the end of 2023[20]. - The company’s bad debt provision as of June 30, 2024, was RMB 182,143,911.12, reflecting a decrease from RMB 192,943,781.91 at the end of 2023[18]. - Contract liabilities increased to RMB 405,764,410.04 as of June 30, 2024, compared to RMB 315,570,239.61 at the end of 2023[22]. Dividends - The company did not declare an interim dividend for the six months ending June 30, 2024, consistent with the previous year[2]. - The company did not declare a final dividend for the year ending December 31, 2023, following the approval at the annual general meeting on June 18, 2024[26]. Research and Development - The company incurred research and development expenses of RMB 51.57 million, up from RMB 42.65 million year-on-year[5]. Governance and Structure - The company has established a governance structure comprising a shareholders' meeting, party committee, board of directors, and supervisory board, with a three-tier organizational structure[7]. - The company has established 15 subsidiaries across various regions, including Beijing, Guangzhou, and Xinjiang, to enhance its operational reach[7]. - The company has a comprehensive organizational structure with four mature business units and five technical centers to support its operations[7]. Taxation - The company has a tax rate of 25% for corporate income tax, with specific subsidiaries having varying rates, such as 15% for the main company and certain subsidiaries[15][16]. - The company obtained high-tech enterprise certification on October 26, 2023, allowing a reduced corporate income tax rate of 15% for three years[17]. - The company has a tax refund policy for value-added tax exceeding 3% for software products sold, as per relevant regulations[16]. Operational Insights - The company operates in the software industry, focusing on network application services and system integration, with a consolidated financial reporting scope that includes 8 entities[7][8]. - The company’s operating revenue is heavily concentrated in Beijing, accounting for 98.32% of total revenue[33]. - The company signed contracts in various sectors, including a project for the Xinjiang government and upgrades for the Shanghai housing fund management platform[28]. - The company plans to enhance its core competitiveness and service capabilities in line with Beijing's strategy to build a global digital economy benchmark city[32]. Audit and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, and believes they are prepared in accordance with applicable accounting standards[38]. - The company has complied with the relevant codes of conduct as per the Listing Rules during the six months ending June 30, 2024[39]. - No purchase, sale, or redemption of the company's listed securities occurred during the six months ending June 30, 2024[39]. Employee Information - The company’s employee count stood at 1,696 as of June 30, 2024, with employee costs amounting to approximately RMB 231.89 million during the reporting period[31].

Financial Performance - The company achieved a total revenue of RMB 1,425.58 million for the reporting period, representing a year-on-year increase of 0.18%[4] - The net loss attributable to shareholders was RMB 72.91 million, a significant reduction of 156.70% compared to the same period last year[4] - Gross profit decreased by 25.19% to RMB 399.04 million compared to the previous year[111] - The company reported a loss attributable to shareholders of RMB 72.91 million for the year[111] - The company's cash and cash equivalents decreased by 11.84% to RMB 814.10 million compared to the previous year[114] - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[197] - The revenue for the fiscal year reached $1.5 billion, representing a 15% increase compared to the previous year[197] - The company has set a future outlook with a revenue guidance of $1.8 billion for the next fiscal year, indicating a projected growth of 20%[197] Product Development and Innovation - The company successfully launched the medical insurance handling system, which is now operational and has connected over 110 key hospitals[4] - The "New Generation Housing Provident Fund Comprehensive Business Management Platform" was showcased at the Service Trade Fair, receiving significant attention[5] - The "Shouxin Tong" product was recognized as an excellent case in the 2023 digital application scenarios[5] - The company has developed and signed contracts for the V1.0 version of the digital file product and the project with the Tongzhou District Archives[5] - The company established "Beijing Digital Intelligence Pioneer Technology Co., Ltd." to develop a multi-level medical insurance digital service platform[155] - The company launched the "Shouxin Directory Blockchain Basic Service Platform" for practical application in the city[151] - Capital Information's cloud-native microservice enterprise infrastructure is being developed to provide higher performance technical services[175] - New product launches are expected to contribute an additional $200 million in revenue, with a focus on innovative technology solutions[197] Strategic Initiatives and Partnerships - The company is actively promoting joint research and has established a joint laboratory for smart city and data innovation with Beihang University[5] - The company was selected as a "Science and Technology Reform Enterprise" by the State-owned Assets Supervision and Administration Commission, indicating effective market expansion[4] - The company was selected as a member of the first batch of the Beijing General Artificial Intelligence Industry Innovation Partner Program[163] - The company joined the Beijing Artificial Intelligence Industry Alliance through its subsidiary, Shouxin Cloud[151] - A strategic acquisition is in progress, which is anticipated to enhance the company's technological capabilities and increase market competitiveness[197] Governance and Compliance - The company reported effective internal control management and compliance with accounting policies, ensuring accurate financial reporting[29] - The Audit Committee held two meetings in 2023, focusing on the review of financial policies and risk management systems[32] - The company established a Strategic Committee to research major investment proposals and other significant matters affecting development[61] - The company has implemented a policy for external auditors regarding non-audit services to maintain independence[40] - The company emphasizes compliance with legal and regulatory requirements in its governance structure and practices[95] - The board of directors has approved a new compliance strategy to ensure adherence to regulatory requirements, enhancing corporate governance[197] Human Resources and Diversity - Employee costs amounted to approximately RMB 507.46 million, an increase from RMB 491.84 million in 2022[109] - The company maintains a gender diversity policy, with women representing 34.73% of the total workforce[81] - The board consists of 2 female members and 10 male members, achieving a balance in gender diversity[101] - The company appointed new directors in 2023, including Yang Yongxin and Zhao Shujie, to enhance board diversity[73] - The company plans to continue monitoring the implementation of its diversity policy within the board[71] Risk Management - The company’s risk control measures have been deemed practical and strictly enforced, allowing for quick identification and response to operational risks[29] - The board's audit committee confirmed that the asset impairment provision reflects the overall operational status and asset conditions of the company[91] Awards and Recognition - The company has received numerous awards, including being recognized as one of China's top ten IT service enterprises and a leading brand in the internet sector[141] - Capital Information was awarded the first prize in the "Smart Security" innovation track at the 2023 Beijing Big Data Skills Competition[192] - The company was recognized as one of the "Top 100 Digital Economy Enterprises" in Beijing for 2023[185] - The company received the "Integrity Enterprise" title in the Beijing Software and Information Service Industry for 2023[151]

Financial Performance - The group achieved operating revenue of RMB 1,425.58 million in 2023, an increase of 0.18% compared to the same period last year[4]. - Gross profit decreased to RMB 399.04 million, down 25.19% year-on-year[4]. - The group reported a loss attributable to shareholders of RMB 72.91 million[4]. - Other income decreased by 21.58% year-on-year to RMB 15.69 million, primarily from property leasing income[2]. - The group's fair value change profit and loss for the year is RMB 1.53 million, with investment income for the year at RMB -6.51 million, a decrease of RMB 34.88 million compared to the same period last year[24]. - The group reported a net loss attributable to shareholders of RMB 72.91 million, with operating revenue increasing by 0.18% to RMB 1,425.58 million[33]. - The net profit for the current period is a loss of RMB 62,092,053.83, compared to a profit of RMB 140,704,648.43 in the previous period, indicating a decline of approximately 144.1%[41]. - The total comprehensive income for the current period is a loss of RMB 62,092,053.83, contrasting with a total comprehensive income of RMB 140,704,648.43 in the previous period[43]. - The company's total equity decreased to RMB 1,202,812,755.36 from RMB 1,321,286,961.16, reflecting a decline of about 9%[40]. - The company's total liabilities and equity decreased to RMB 2,496,823,399.03 from RMB 2,545,996,598.27, a reduction of approximately 1.9%[40]. Employee and Operational Metrics - The company has 1,624 employees as of December 31, 2023, down from 1,816 in 2022, with total employee costs amounting to approximately RMB 507.46 million[22]. - The integrated network platform operated with a backbone network availability of 99.999%, serving nearly 20,000 units[15]. - Operating costs increased significantly to RMB 1,026,537,902.00 from RMB 889,550,905.46, marking an increase of about 15.4%[41]. - The company has established a governance structure that includes a board of directors and various departments to enhance operational efficiency and market expansion[46]. Research and Development - The company is focusing on digital service innovation to enhance product development capabilities and operational efficiency in 2024[21]. - The company has launched 16 application systems for the new medical insurance information platform, which is now operational[11]. - Research and development expenses for the current period are RMB 134,576,665.42, slightly down from RMB 137,294,867.10 in the previous period, a decrease of about 2%[41]. Taxation and Financial Adjustments - The group’s income tax expense for the year was RMB -28.14 million, benefiting from a reduced tax rate of 15% as a high-tech enterprise[31]. - The company obtained high-tech enterprise certification, allowing a reduced corporate income tax rate of 15% for three years, effective from October 26, 2023[64]. - The company also received high-tech enterprise certification for cloud technology, with the same tax benefits effective from November 30, 2023[65]. - The company’s deferred tax expense for the current period was RMB 3,339,939.18, compared to RMB -31,482,100.52 in the previous period[117]. Asset Management and Impairments - The company recognized an asset impairment provision of RMB 58.80 million for a government network service project, which is expected to have no significant adverse impact on future operating performance[5]. - The impairment loss for assets this year was RMB 71.07 million, primarily due to provisions for held-for-sale assets and intangible assets[24]. - The company plans to complete the transfer of the government network service project asset group by June 30, 2024, with an estimated transfer amount confirmed by third-party evaluation[104]. Receivables and Bad Debts - The company reported a total receivables balance of RMB 656,305,725.61 at the end of the period, an increase from RMB 640,619,837.02 in the previous year, representing a growth of approximately 2.7%[79]. - The aging analysis of accounts receivable shows that the balance for 0-6 months increased to RMB 354,249,021.22 from RMB 326,206,862.30, indicating a growth of about 8.4% year-over-year[79]. - The company has a bad debt provision of RMB 192,943,781.91, which is an increase from RMB 188,592,816.88 in the previous year, reflecting a rise of approximately 1.9%[80]. - The expected credit loss rate for accounts receivable is reported at 28.96%[80]. - The total bad debt provision at the end of the period was RMB 31,046,863.65, related to the top five debtors[89]. Dividends and Shareholder Returns - The company did not recommend a final dividend for the year ended December 31, 2023, compared to a dividend of RMB 0.0175 per share in 2022[33]. - The company approved a final dividend of RMB 0.0175 per share for the year ended December 31, 2022, totaling RMB 50,716,506.59[121]. - The company will not propose a final dividend for the year ended December 31, 2023, due to operational challenges[128]. Legal and Compliance Matters - The company is involved in a legal dispute regarding the acquisition of Rongtong Information, with a property preservation measure of RMB 335,995,436.60 in place[123]. - The board has regularly reviewed the risk management and internal control systems to ensure their effectiveness and appropriateness[139]. - The 2023 annual report will be sent to shareholders and published on the Hong Kong Stock Exchange website and the company's website for investor access[140].