CTFO(002373)2025-01-23 08:20Financial Performance - The company expects a net loss of approximately 103 million CNY for 2024, compared to a profit of 54.24 million CNY in the same period last year[2]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 95 million CNY, down from a profit of 27.69 million CNY in the previous year[2]. - The basic earnings per share is expected to be a loss of 0.65 CNY, compared to a profit of 0.35 CNY in the same period last year[2]. - The decline in the stock price of Hongquan IoT is expected to negatively impact net profit by approximately 90 million CNY in 2024[6]. - The company warns investors to be cautious as the financial data is preliminary and the final figures will be disclosed in the 2024 annual report[9]. Revenue Decline - The decline in revenue is attributed to decreased customer demand and project delays, leading to a reduction in overall gross margin[4]. Asset Impairment - The company plans to recognize goodwill impairment of approximately 700 million CNY due to asset impairment tests conducted at the end of 2024[5]. Strategic Initiatives - The company aims to accelerate the digital transformation of highway infrastructure and promote integrated construction in urban traffic[7]. - There is a focus on enhancing smart city operations through intelligent solutions and video surveillance upgrades[8]. - The company will continue to explore new product capabilities and expand into new market areas while strengthening partnerships with operators[8].