HENGTONG TECH.(SZ:300374)2025-03-27 12:35Financial Performance - The company achieved operating revenue of CNY 1.90 billion, an increase of 27.07% year-on-year[16]. - The net loss attributable to shareholders was CNY 0.64 billion, a reduction in loss of 60.85% compared to the previous year[16]. - The cash flow from operating activities was CNY 91.63 million, a slight decrease of 2.40% year-on-year[16]. - The total assets at the end of 2024 were CNY 4.03 billion, representing a growth of 23.09% from the previous year[16]. - The basic earnings per share were CNY -0.26, improving by 60.61% from CNY -0.66 in the previous year[16]. - The net asset attributable to shareholders at the end of 2024 was CNY 841.36 million, a decrease of 2.47% from the previous year[16]. - The company reported a net loss of CNY 0.77 billion after deducting non-recurring gains and losses, a decrease of 54.73% year-on-year[16]. - In 2024, the company's total non-operating income amounted to approximately 13.29 million, a significant increase from 7.38 million in 2023, reflecting a growth of 80.5% year-over-year[23]. - The company received government subsidies totaling approximately 6.83 million in 2024, up from 5.73 million in 2023, indicating a year-over-year increase of 19.3%[23]. - The company's impairment reversal for receivables reached approximately 9.47 million in 2024, compared to 1.62 million in 2023, marking a substantial increase of 485.3%[23]. Market Position and Strategy - The company aims to enhance its industry position and operational performance for high-quality development in the future[3]. - The company is currently facing risks in the construction, infrastructure, and real estate sectors, which may impact future performance[3]. - The company is recognized as a leading provider of prefabricated building components and services, focusing on intelligent manufacturing and smart construction[28]. - The company is actively expanding its EPC business model, which integrates engineering procurement and construction, to enhance service levels and market presence[32]. - The company aims to leverage the national "dual carbon" goals to drive the green transformation of the construction industry, positioning itself for future growth opportunities[26]. - The company plans to optimize regional layout and strengthen large customer operations and risk prevention to improve operational quality and enhance brand influence and market competitiveness[89]. Research and Development - The company has a total of 136 valid patents, showcasing its strong product manufacturing and supply capabilities[40]. - Research and development expenses increased by 37.20% to 63,557,962.49 CNY in 2024, compared to 46,324,284.51 CNY in 2023, due to increased investment in R&D projects[61]. - The company completed several major R&D projects, including the development of a new construction technique for large-span spiral steel stairs, which aims to improve installation efficiency and reduce costs[62]. - The company is focusing on the research and application of new materials, intelligent technologies, and energy-saving environmental technologies[63]. - The company is conducting detailed research on high-performance insulation decorative integrated panels, aiming to enhance product competitiveness and reduce installation costs[64]. Operational Efficiency - The company has implemented a refined management system, revising 12 management regulations to enhance project profitability[42]. - The company achieved a construction efficiency improvement of over 10% in complex geological conditions, with a success rate exceeding 90%[66]. - The company reduced engineering costs by over 15% while increasing profit margins for individual projects[66]. - The company has improved traditional construction techniques and developed new methods for municipal infrastructure renovation, aiming to enhance construction quality and reduce costs[67]. - The company is focusing on precise control of construction parameters to enhance quality and reduce costs in outdoor sports field projects[64]. Governance and Compliance - The company has established an independent financial department with a complete financial accounting system and does not share bank accounts with controlling shareholders[102]. - The company has conducted a comprehensive review of its governance structure and made necessary amendments to relevant rules[145]. - The company has ensured compliance with labor laws by signing contracts with employees and providing full insurance coverage[140]. - The company has committed to avoiding competition and protecting the rights of other shareholders during its control of China Railway Prefabricated Construction Co., Ltd.[157]. - The company has not encountered any significant internal control deficiencies during the reporting period[146]. Future Outlook - The company plans to continue investing in technology development to improve operational efficiency and product quality[110]. - The company has set ambitious growth targets for the upcoming fiscal year, aiming for a revenue increase of approximately 10%[106]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[109]. - The company is committed to sustainability initiatives, aiming to reduce its carbon footprint by 20% over the next five years[109]. - The company is enhancing its digital transformation strategy to improve customer engagement and operational efficiency[110].