Investment Rating - The report assigns a "Buy" rating for the company [4][6] Core Views - The company reported a revenue of 1.769 billion yuan in 2024, a decrease of 10.82% year-on-year. The net profit attributable to the parent company was -415 million yuan, with a non-recurring net profit of -575 million yuan. The gross margin was 40.58%, down by 5.44 percentage points [1][2] - The decline in revenue is attributed to the impact of customer budgets, leading to delays in order fulfillment and project delivery. The company has increased sales expenses to maintain competitive advantages, affecting net profit [2][3] - The company is a leader in the electronic data forensics industry, leveraging AI technology to enhance its product offerings and maintain its market position. The public safety big data business continues to evolve with significant R&D efforts [3] Financial Summary - The company’s revenue for 2024 was 1.769 billion yuan, down 10.82% from 2023. The revenue breakdown by product includes: public security big data (672 million yuan, -23.30%), electronic data forensics (711 million yuan, -6.49%), digital government and enterprise digitalization (278 million yuan, +31.07%), and new network space security (107 million yuan, -20.15%) [2] - The forecast for net profit attributable to the parent company is adjusted to 0.02 million yuan for 2025, 0.53 million yuan for 2026, and 0.92 million yuan for 2027, indicating a significant recovery trajectory [4][5] - The company’s financial metrics show a projected revenue growth of 19.20% in 2025, followed by 17.62% in 2026 and 16.00% in 2027 [5][12]

Group 1 - Guotou Intelligent (300188.SZ) released its 2024 annual report on March 31, 2025, with 53 institutional investors holding a total of 215 million shares, accounting for 24.97% of the total share capital [1] - The top ten institutional investors collectively hold 24.41% of the shares, with a decrease of 0.77 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, two funds reduced their holdings compared to the previous quarter, with a decrease rate of 0.20% [2] - A total of 46 new public funds were disclosed this period, including notable funds such as Jiashi Quality Preferred Stock A and GF CSI 1000 ETF [2] - One insurance fund increased its holdings, specifically China Life Insurance Co., Ltd. - Universal - Guoshou Ruian, with a slight increase in holding percentage [2]

Group 1 - The company is a leading enterprise in the electronic data forensics industry in China, focusing on public safety big data and cybersecurity, aiming to become a global leader in these fields [5][6] - The company's development strategy revolves around "product equipmentization and big data intelligence," with four main business areas: public safety big data, electronic data forensics, digital governance, and new cybersecurity [5][6] - The company integrates artificial intelligence and big data governance capabilities into its product development, enhancing its electronic data forensics services [6][7] Group 2 - The company acquired a 55% stake in Nanjing Jinding Jiaqi Information Technology Co., Ltd. for 24.75 million RMB to enhance its digital transformation capabilities in the discipline and supervision industry [9] - The performance commitment for Nanjing Jinding includes achieving a minimum net profit of 12.1 million RMB in 2024, 13.3 million RMB in 2025, and 14.6 million RMB in 2026, with the 2024 target already met [9] - The company has established the Meitong Industrial M&A Fund, which has invested in seven projects totaling 203.3 million RMB, with all funds disbursed [11][12] Group 3 - The company plans to hold its 2024 annual shareholders' meeting on April 25, 2025, with both onsite and online voting options available for shareholders [14][15] - The meeting will include discussions on various proposals, including related party transactions, with specific voting procedures outlined for shareholders [21][22]

Meeting Overview - The sixth meeting of the sixth supervisory board of Guotou Intelligent (Xiamen) Information Co., Ltd. was held on March 27, 2025, combining in-person and telecommunication methods [1] - All three supervisors attended the meeting, with two participating via telecommunication [1] Resolutions Passed - The supervisory board unanimously approved the 2024 annual report, confirming that the report accurately reflects the company's operational status without any false statements or omissions [2][3] - The supervisory board also approved the 2024 work report, affirming that it complied with relevant laws and regulations [2] - The financial budget plan for 2024 was approved, aimed at rationally allocating financial resources based on the company's long-term development strategy [3] - The profit distribution plan for 2024 was deemed compliant with regulations and not detrimental to shareholder interests [3] - The proposal for asset impairment provisions was approved, ensuring it aligns with accounting standards and reflects the company's financial status accurately [3] Related Transactions and Risk Management - Daily related transactions with associated parties were approved, confirming they are necessary for normal business operations and comply with fair pricing principles [5] - The supervisory board reviewed the risk management of Guotou Financial Co., Ltd., confirming its operations are under strict regulatory oversight and do not pose significant risks [5][6] - A risk disposal plan was approved to effectively manage financial risks associated with Guotou Financial Co., Ltd. [7] Financial Management and Auditing - The company was confirmed to manage and use raised funds in compliance with relevant regulations, with no violations reported [6] - The supervisory board agreed to renew the appointment of Rongcheng Accounting Firm for the 2025 audit, ensuring continuity and compliance with professional standards [8] - The internal control system was reported to be effective, with no significant deficiencies identified during the reporting period [9] Compensation and Governance - The supervisory board's compensation for 2024 was determined based on the company's management practices and industry standards [9]

Meeting Announcement - The company will hold its 2024 Annual Shareholders' Meeting on April 25, 2025, at 15:00 in Xiamen [1] - The meeting will combine on-site and online voting methods [1][2] Voting Procedures - Shareholders can vote in person or through authorized representatives [2] - Online voting will be available via the Shenzhen Stock Exchange trading system and internet voting system on the same day [2][6] Attendance and Registration - All registered shareholders as of the close of trading on the day before the meeting are entitled to attend [2] - Specific registration procedures are outlined for individual and corporate shareholders [5][6] Agenda Items - The meeting will review various proposals, including related party transactions, with specific voting rules for related shareholders [3][10]

Financial Performance - The company reported a basic earnings per share of -0.4800 yuan for 2024, a decrease of 100% compared to -0.2400 yuan in 2023 [1] - The net profit for 2024 was -4.15 billion yuan, representing a decline of 101.46% from -2.06 billion yuan in 2023 [1] - The operating revenue decreased by 10.84% to 17.69 billion yuan in 2024 from 19.84 billion yuan in 2023 [1] - The return on equity was -11.16% in 2024, down 121.43% from -5.04% in 2023 [1] - The net asset per share dropped to 0 yuan in 2024 from 4.61 yuan in 2023, marking a 100% decrease [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 34,560.86 million shares, accounting for 45.64% of the circulating shares, with a decrease of 309.27 million shares compared to the previous period [1] - The largest shareholder, Guotou Intelligent Technology Co., Ltd., holds 18,114.64 million shares, representing 23.92% of the total share capital, with no change [2] - The second-largest shareholder, Guo Yongfang, holds 12,566.83 million shares, accounting for 16.59%, also unchanged [2] - New entrants to the top ten shareholders include a securities investment fund holding 427.78 million shares [2] Dividend Distribution - The company has announced no distribution or transfer of shares [3]

（一）法定代表人：崔宏琴 华泰联合证券有限责任公司 关于国投智能(厦门)信息股份有限公司 2024 年度涉及财务 公司关联交易的存款、贷款等金融业务的专项核查意见 作为国投智能(厦门)信息股份有限公司（以下简称"国投智能"、"公司"或"发 行人"）向特定对象发行股票并在创业板上市持续督导阶段的保荐人，根据《证 券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》及《深 圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等有关规定，华泰 联合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）对国投智能 2024 年度涉及财务公司关联交易的存款、贷款等金融业务进行了专项核查，核查情况 及核查意见如下： 一、财务公司基本情况 国投财务有限公司（以下简称"国投财务公司"）是 2008 年底经中国银行 业监督管理委员会批准设立，并核发金融许可证的非银行金融机构，于 2009 年 2 月 11 日经国家工商行政管理总局核准注册成立。公司注册资本为 50 亿元人民 币。 （二）注册地址：北京市西城区阜成门北大街 2 号 18 层 （三）企业类型：其他有限责任公司 （四）统一社会信用代码：91110 ...

内部控制审计报告 国投智能（厦门）信息股份有限公司 容诚审字[2025]361Z0276 号 容诚会计师事务所(特殊普通合伙) 中国·北京 | 序号 | | 内 | 容 | 页码 | | --- | --- | --- | --- | --- | | 1 | 内部控制审计报告 | | | 1-2 | | 2 | 内部控制自我评价报告 | | | 1-14 | 目 录 内部控制审计报告 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 容诚审字[2025]361Z0276 号 国投智能（厦门）信息股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了国投智能（厦门）信息股份有限公司（以下简称"国投智能公司"）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责 ...

2024 年度营业收入扣除情况的 专项审核报告 国投智能（厦门）信息股份有限公司 容诚专字[2025]361Z0254 号 容诚会计师事务所(特殊普通合伙) 中国·北京 目 录 | 序号 | 内 容 | 页码 | | --- | --- | --- | | 1 | 营业收入扣除情况的专项审核报告 | 1-3 | | 2 | 营业收入扣除情况表 | 1-3 | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 关于国投智能（厦门）信息股份有限公司 2024 年度营业收入扣除情况的专项审核报告 容诚专字[2025]361Z0254 号 国投智能（厦门）信息股份有限公司全体股东： 我们接受委托，按照中国注册会计师审计准则审计了国投智能（厦门）信息 股份有限公司（以下简称国投智能公司）2024 年度财务报表，并于 2025 年 3 月 27 ...

审计报告 国投智能（厦门）信息股份有限公司 6 目 录 容诚审字[2025]361Z0277 号 容诚会计师事务所(特殊普通合伙) 中国·北京 9 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 外经贸大厦 15 层 / 922-926 (100037) TEL:010-6600 1391 FAX:010-6600 1392 | 序号 | 内 | 容 | 页码 | | --- | --- | --- | --- | | 1 | 审计报告 | | 1-6 | | 2 | 合并资产负债表 | | 1 | | 3 | 合并利润表 | | 2 | | 4 | 合并现金流量表 | | 3 | | 5 | 合并所有者权益变动表 | | 4 | | 6 | 母公司资产负债表 | | 5 | | 7 | 母公司利润表 | | 6 | | 8 | 母公司现金流量表 | | 7 | | 9 | 母公司所有者权益变动表 | | 8 | | 10 | 财务报表附注 | | 9-145 | 审 计 报 告 E-mail:bj@rsmchina.com.cn https://www.rsm.global/ch ...