JSCN(SH:600959)2025-04-09 12:00Financial Performance - The company's operating revenue for 2024 reached CNY 7,979,733,591.73, representing a 5.04% increase compared to CNY 7,597,096,137.20 in 2023[19]. - The net profit attributable to shareholders of the listed company was CNY 365,414,160.54, up 7.46% from CNY 340,048,085.95 in the previous year[19]. - The net cash flow from operating activities decreased by 54.52% to CNY 1,094,942,399.91 from CNY 2,407,597,651.98 in 2023[19]. - The total assets of the company at the end of 2024 were CNY 37,510,921,098.27, a slight increase of 0.73% from CNY 37,238,686,361.79 in 2023[19]. - The company's net assets attributable to shareholders increased by 1.19% to CNY 22,526,136,739.86 from CNY 22,261,404,278.06 in 2023[19]. - The basic earnings per share remained stable at CNY 0.07, consistent with the previous year[20]. - The company reported a significant reduction in net profit after deducting non-recurring gains and losses, amounting to CNY -205,567,727.43 compared to CNY -300,069,166.69 in 2023[19]. - The weighted average return on net assets increased to 1.63% from 1.53% in the previous year[21]. - The company achieved a revenue of 7.98 billion yuan and a net profit of 365 million yuan for the year 2024, marking a steady growth in overall performance[40]. Cash Flow and Expenses - The net cash flow from operating activities decreased significantly by 54.52%, from CNY 2,407,597,651.98 to CNY 1,094,942,399.91[50]. - Operating costs increased to CNY 6,012,163,120.92, up 4.22% from CNY 5,768,530,706.57 year-on-year[50]. - The total research and development expenses amounted to 116,815,400.96 RMB, representing 1.46% of total operating income[57]. - The company reported a gross margin of 24.66% in the cable television industry, with a year-on-year increase of 0.59 percentage points[52]. - The company’s sales expenses decreased by 2.08%, from CNY 655,666,284.21 to CNY 642,019,228.54[50]. - The company experienced a 33.42% increase in engineering settlement costs, rising from CNY 676,561,153.22 to CNY 902,646,287.43[54]. Strategic Initiatives and Market Position - The company is actively pursuing the integration of cable and 5G networks, transitioning from a single cable service to a comprehensive "cable + wireless" service model[31]. - The company aims to enhance its cultural and technological integration, positioning itself as a leader in high-quality cultural services and smart broadcasting[32]. - The company has maintained a continuous presence in the "Top 30 National Cultural Enterprises" for fifteen years and has been recognized for its contributions to 5G development and customer service excellence[28]. - The company is focused on expanding its broadband and digital TV services, leveraging its existing infrastructure to enhance user experience and service offerings[32]. - The company aims to achieve steady growth in total revenue and operating profit by 2025, with a focus on optimizing asset structure and improving operational management[70]. Governance and Management - The company has established a clear governance structure with defined responsibilities among shareholders, directors, supervisors, and senior management, ensuring compliance with laws and regulations[86]. - The company has implemented a governance system that ensures clear responsibilities and effective checks and balances among the board, supervisory board, and management[86]. - The company is committed to enhancing its governance practices by adopting measures such as independent director work guidelines and risk management strategies[88]. - The company has a total of 10 board members and supervisors, with a mix of executive and independent directors[91]. - The company is focused on maintaining stable leadership with a mix of experienced and independent directors[91]. Environmental and Social Responsibility - Jiangsu Cable aims to reduce energy consumption by 410,000 kWh in 2024 compared to 2023 through various energy-saving measures[132]. - The company has achieved a PUE value reduction from 1.70 in 2021 to 1.436 in 2024, surpassing the design target of 1.45[130]. - Jiangsu Cable has committed 1 million yuan to rural revitalization projects, supporting infrastructure development in specific villages[133]. - The company has not established an environmental protection mechanism and reported zero investment in environmental protection during the reporting period[127]. Debt and Financing - The company has 8 billion RMB in corporate bonds and 29 billion RMB in non-financial corporate debt financing instruments, with 3 billion RMB of corporate bonds maturing between May and December 2025[183]. - The total interest-bearing debt under the consolidated scope rose from 3.698 billion RMB to 4.214 billion RMB, marking a year-on-year increase of 13.94%[182]. - The company has issued two types of corporate bonds: one with a balance of approximately CNY 307.71 million at a 3.2% interest rate, and another with a balance of approximately CNY 512.94 million at a 2.77% interest rate[168]. - The company plans to issue additional short-term financing bonds with interest rates ranging from 2.26% to 2.60% in early 2024[190]. - The company has not indicated any termination risks associated with the issued bonds[189].