Core Insights - The company reported a revenue of 1.356 billion yuan for the fiscal year 2024, representing a year-on-year growth of 6.8% [2] - Adjusted net profit reached 80.169 million yuan, showing a significant increase of 427% year-on-year [2] - Adjusted EBITDA was 676 million yuan, reflecting a growth of 19.4% compared to the previous year [2] Business Model and Services - The company provides a subscription-based, one-stop IT equipment management service for enterprises, addressing issues related to high upfront costs and maintenance complexities [2] - The service model includes features such as "one device to start, return anytime, no deposit, monthly payment, pay after use, and full warranty" [2] Customer Metrics - As of the end of the reporting period, the number of active enterprise customers reached 51,000, a year-on-year increase of 9.1% [2] - The number of serviced devices grew from 1.204 million in 2023 to 1.374 million in 2024, marking a 14.1% increase [2] - The number of "core customers" increased by 15.8% year-on-year [2] Product Development and Innovation - In 2024, the company launched AI PCs from brands like HP, Lenovo, and Apple, expanding its IT product offerings [2] - The company has developed its own business-specific all-in-one machines, monitors, and hosts to provide cost-effective services for enterprise clients [2] After-Sales Service - The company offers a longer warranty period and faster service response times compared to direct purchases, which is crucial for small and medium-sized enterprises lacking IT support [3] - The self-developed engineer scheduling system "Xuanji" allows real-time dispatch of over 6,000 engineers, enabling on-site service within 2 to 4 hours [3] - The core customer retention rate for 2024 is nearly 90% [3] Manufacturing Capabilities - The company independently developed DefectGPT, an industrial-grade model for remanufacturing applications, which supports its leading position in the industry [3] - The annual remanufacturing capacity for 2024 is reported to be 856,000 units [3]

Core Viewpoint - Epoint Cloud reported strong financial performance for the fiscal year 2024, with significant growth in revenue, adjusted EBITDA, and net profit, indicating enhanced profitability and financial health. Financial Performance - In fiscal year 2024, Epoint Cloud achieved revenue of 1.36 billion RMB, a year-on-year increase of 6.8% [1][3] - Adjusted EBITDA reached 676 million RMB, reflecting a growth of 19.4% compared to the previous year [1][3] - Adjusted net profit surged to 80.17 million RMB, marking a remarkable increase of 427% year-on-year [1][3] - The financial expense ratio decreased by 2.3%, and cash reserves grew by 10.5%, indicating improved financial health [3] Customer and Service Growth - The number of active customers increased to 51,024, representing a growth of 9.1% [5] - The total number of service devices reached 1,374,200, with a year-on-year growth of 14.1% [5] - Epoint Cloud maintained a high customer retention rate of 74%, with core customer retention nearing 90% [6] Business Model and Market Position - Epoint Cloud's IT subscription model has gained widespread acceptance among small and medium-sized enterprises, offering cost-effective IT solutions [5] - The company holds a market share of 19.6%, significantly surpassing its closest competitors [7] - Epoint Cloud's IT remanufacturing capabilities allow for extended product lifespans, enhancing profitability [7][8] Operational Efficiency - Epoint Cloud utilizes a fully self-developed "Nebula System" for digital management, improving operational efficiency and reducing costs [8] - The company achieved a 90% equipment utilization rate through digital inventory management [8] - Scale and digital capabilities have significantly lowered unit product costs, expanding profit margins [8]

Financial Performance - For the year ended December 31, 2024, total revenue reached RMB 1,356,885,000, representing a 6.8% increase from RMB 1,270,741,000 in 2023[6] - Adjusted net profit surged by 427.0% to RMB 80,169,000, up from RMB 15,213,000 in 2023[6] - Adjusted EBITDA rose by 19.4% to RMB 676,288,000, compared to RMB 566,336,000 in the prior year[6] - The company reported a pre-tax profit of RMB 77,725,000, a significant recovery from a pre-tax loss of RMB 902,384,000 in 2023[8] - Basic and diluted earnings per share improved to RMB 0.11, compared to a loss of RMB 2.27 per share in 2023[8] - The net profit attributable to the company for the year ended December 31, 2024, was RMB 64,724,000, a significant recovery from a loss of RMB 900,637,000 in 2023[36] - The adjusted EBITDA (non-IFRS measure) for the fiscal year ending December 31, 2024, was RMB 691.7 million, up from RMB 566.3 million in the previous year, reflecting a year-over-year increase of approximately 22.2%[90] Revenue Breakdown - Revenue from on-demand office IT integrated solutions subscription services increased significantly to RMB 510,120 thousand in 2024 from RMB 55,087 thousand in 2023, representing a growth of 826.5%[22] - Revenue for the year ended December 31, 2024, was RMB 1,356.9 million, a 6.8% increase from RMB 1,270.7 million in 2023, primarily due to growth in on-demand office IT solutions and equipment sales[65] - Revenue from on-demand office IT solutions was RMB 1,188.2 million, up 6.5% from RMB 1,115.7 million in 2023, driven by the launch of the self-developed IT device, Easy Point Cloud AI01[67] - Equipment sales revenue rose to RMB 157,620 thousand in 2024, up 13.8% from RMB 138,470 thousand in 2023[22] - SaaS and other services revenue decreased to RMB 11,084 thousand in 2024, down 33.3% from RMB 16,592 thousand in 2023[22] Cost and Expenses - The cost of sales increased by 11.4% to RMB 800,328,000, compared to RMB 718,393,000 in the previous year[6] - The gross profit for the year ended December 31, 2024, was RMB 556.6 million, a slight increase of 0.8% from RMB 552.3 million in the previous year, with a gross margin of 41.0% compared to 43.5% in the prior year[74] - The gross profit margin for on-demand office IT solutions decreased to 46.5% from 49.6% in the previous year, attributed to lower revenue per unit and increased depreciation costs[77] - General and administrative expenses decreased by 2.8% to RMB 128.9 million from RMB 132.6 million in the previous year, mainly due to reduced salary and rent expenses[79] - The total financing costs for the year ended December 31, 2024, amounted to RMB 122,604,000, a decrease of 15.1% from RMB 144,409,000 in 2023[34] Assets and Liabilities - Total assets increased to RMB 3,513,815,000, up from RMB 3,311,874,000 in 2023[10] - As of December 31, 2024, total liabilities amounted to RMB 2,278,065,000, an increase of 9.6% from RMB 2,079,887,000 in 2023[11] - Current assets were less than current liabilities by RMB 242,085,000, indicating potential liquidity concerns[19] - Non-current liabilities increased to RMB 897,603,000 in 2024 from RMB 826,785,000 in 2023, reflecting a growth of 8.6%[11] - The company’s total equity amounted to RMB 1,235,750,000, slightly up from RMB 1,231,987,000 in 2023[10] Customer Metrics - As of December 31, 2024, the company has 51,024 active customers, representing a year-over-year growth of 9.1%[44] - The company maintains a high customer retention rate, which has slightly improved compared to the same period last year[44] - Subscription customer count rose to 50,180, compared to 45,757 in the previous year, indicating an increase of 4,423 customers[54] - The number of core customers rose to 27,529, up 15.8% from 23,777 in 2023, with core customer service equipment share increasing from 85.0% in 2023 to 86.6% in 2024[57] Corporate Governance - The company has adhered to all applicable corporate governance code provisions during the reporting period, with exceptions noted[110] - The board of directors did not recommend any final dividend for the year ending December 31, 2024[109] - The company has not been involved in any significant litigation or arbitration as of December 31, 2024[119] - The audit committee, composed of three independent non-executive directors, is responsible for reviewing and supervising the group's financial reporting processes and internal control systems[117] Future Outlook - The company plans to launch the self-developed Deepseek integrated machine in the first half of 2025, enhancing AI capabilities for various industries[60] - The company aims to expand its sales team and implement AI-based business analytics to optimize sales processes and improve customer satisfaction[61] - The company aims to complete the enhancement of remanufacturing capabilities and operational efficiency by the end of 2024[120]

如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02416 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Edianyun Limited 易點雲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2416） 易 點 雲 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，本 公 司 將 於2025年3月 27日（星 期 四）舉 行 董 事 會 會 議，藉 以（其 中 包 括）考 慮 並 批 准 本 公 司 及 其 附 屬 公 司 截 至2024年12月31日 止 之 年 度 業 績 及 其 刊 發，並 考 慮 派 發 末 期 股 息（如 有），以 及 處理其他事項。 承董事會命 易點雲有限公司 主席兼首席執行官 紀鵬程 中國北京，2025年3月14日 於本公告日期，董事會包括執行董事紀鵬程博士、張斌先生、賀亮先生及佟劍先 生，以及獨立非執行董事洪偉力先生、宋士吉先生、王靜波先生及李丹女士。 董事會會議召開日期 ...

Investment Rating - The report assigns a "Buy" rating to the company [6] Core Insights - The company is a leading provider of office IT integrated solutions in China, focusing on helping enterprises achieve lightweight asset management of office IT equipment through innovative subscription models [3][19] - The company has established strong core barriers through its Nebula system and grid layout, which enhance service capabilities and improve IT equipment efficiency for clients [4][24] - The penetration rate of the pay-per-use model in the office IT service market is low in China, indicating significant market potential as this rate increases [4][33] - The company is actively exploring AI empowerment solutions for small and medium-sized enterprises (SMEs), which is expected to expand its business opportunities [4][47] Summary by Sections Company Overview - The company was founded in 2014 and has become a major player in providing comprehensive office IT solutions, including no-deposit equipment services, IT services, and SaaS software development [3][19] - It operates in over 100 cities across China, servicing more than 1.3 million devices as of 2024 [3][19] Core Barriers and Market Potential - The company leverages its Nebula system and grid layout to create an office cloud that enhances service efficiency and client satisfaction [4][24] - The pay-per-use model's market size in China was only 4.5% of the total office IT service market in 2021, compared to 53% in the US, indicating substantial growth potential [4][33] - The company ranks first in China in terms of revenue, service device count, and remanufacturing capabilities within the pay-per-use office IT sector [4][37] Financial Performance and Valuation - The company is expected to achieve revenue of 1.35 to 1.4 billion yuan in the fiscal year 2024, representing a year-on-year growth of 6.2% to 10.2% [5][66] - The adjusted net profit is projected to be between 75 to 85 million yuan, reflecting a significant increase of 493% to 558.7% year-on-year [5][66] - The company's current price-to-sales (PS) ratio is estimated at 1.2 to 1.24, and the price-to-earnings (PE) ratio is between 19 to 22, indicating a reasonable valuation [5][66] Profit Forecast and Investment Rating - The company is expected to see net profits of 82 million, 114 million, and 149 million yuan for the years 2024, 2025, and 2026, respectively [6][66] - The report maintains a "Buy" rating based on the company's strong market position and anticipated benefits from increasing market penetration and economic recovery [6]

业绩扭亏为盈，估值处于合理水平。（1）业绩扭亏为盈，企稳回暖。2025 年 2 月 19 日，公司发布正面盈利预告，预计 2024 财年实现营业收入 13.5-14 亿 元，同比增长 6.2%-10.2%；预计实现经调整净利润 0.75-0.85 亿元，同比增 长 493.0%-558.7%。（2）估值方面，估值处于合理区间。考虑到公司以提供 办公 IT 综合解决方案为主，因此选取港股联想集团及金蝶国际作为对比公司， 以 2023 年财务数据、2025 年 2 月 19 日收盘数据为基准，联想集团 PS 估值 为 0.35 倍、PE 估值为 16.87 倍；金蝶国际 PS 估值为 9.12 倍、PE 估值不适 用（为负值）。以公司最新业绩预告为基准、2 月 19 日收盘数据为基准，公司 PS 值为 1.2-1.24 倍、PE 估值为 19-22 倍，处于合理估值。 公司盈利预测及投资评级：公司系办公 IT 综合服务龙头企业，凭借办公云+规 模化优势+再制造能力等夯实公司核心壁垒，伴随行业渗透率提升公司有望受 益。我们预计公司 2024-2026 年净利润分别为 0.82、1.14 和 1.49 亿元，对应 E ...

正面盈利預告 本 公 告 乃 由 易 點 雲 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，合 稱「本集團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第13.09(2)(a)條及香港法例第 571章證券及期貨條例第XIVA部 之 內 幕 消 息 條 文（定 義 見 上 市 規 則）刊 發。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Edianyun Limited 易點雲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2416） 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 告 知 本 公 司 股 東（「股 東」）及 潛 在 投 資 者， 根據就本集團截至2024年12月31日 止 年 度（「2024財 年」）未 經 審 核 綜 合 管 理 賬 目 及 本 集 團 現 有 可 得 資 料 作 出 的 初 步 評 估，本 集 團 預 計 於2024財年的經調整淨利 潤將 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Edianyun Limited 易點雲有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2416） 變更聯席公司秘書 易 點 雲 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，由 於 工 作 變 動，竇 森 先 生（「竇先生」）不再擔任本公司之聯席公司秘書，自2025年2月18日起生效。離任後， 竇 先 生 將 不 再 擔 任 本 公 司 及 其 附 屬 公 司（「本集團」）的 任 何 職 務。 考 慮 到 賀 先 生 擁 有 數 年 處 理 財 務 與 投 資 者 關 系 事 務 方 面 的 經 驗，熟 悉 本 集 團 的 業 務 與 運 作，並 且 在 經 濟 及 財 務 方 面 具 有 扎 實 的 教 育 背 景，本 公 司 認 為 委 任 賀 先 生 擔 任 聯 席 公 司 秘 書 符 合 本 公 司 及 股 東 的 整 體 利 益。鑒 於 賀 先 生 目 前 尚 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 易點雲有限公司 呈交日期： 2025年1月15日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02416 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股 ...