Zhejiang Heda Technology (SH:688296)2025-04-15 12:05Financial Performance - The company has not achieved profitability since its listing[4]. - The company's operating revenue for 2024 reached ¥479,373,514.38, representing a year-on-year increase of 39.74% compared to ¥343,051,787.79 in 2023[24]. - The net profit attributable to shareholders of the listed company was -¥5,636,071.29 in 2024, a significant improvement from -¥29,505,582.13 in 2023[24]. - The basic earnings per share for 2024 was -¥0.05, compared to -¥0.27 in 2023, indicating a reduction in losses[25]. - The company's cash flow from operating activities decreased by ¥48,129,962.32 year-on-year, primarily due to unsatisfactory collection of receivables[26]. - Non-recurring gains for 2024 totaled ¥8,749,028.16, down from ¥12,582,640.57 in 2023[30]. - The company reported a significant increase in user data, with a 25% growth in active users year-over-year[18]. - The revenue for the last quarter reached 1.2 billion RMB, representing a 15% increase compared to the previous quarter[18]. Corporate Governance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[6]. - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[3]. - All directors attended the board meeting to discuss the annual report[5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - The company has not violated decision-making procedures for external guarantees[10]. - The company has no special arrangements for corporate governance[10]. Research and Development - The company is investing 100 million RMB in R&D for new technologies over the next two years[18]. - Research and development expenses accounted for 13.06% of operating revenue in 2024, down from 16.79% in 2023, reflecting a decrease of 3.73 percentage points[25]. - The company has developed 23 core technologies in the field of water informationization, including data mining, sound processing, early warning algorithms, and remote control technologies[181]. - The company achieved a significant increase in R&D output, with a total of 11 invention patents granted, up from 5 applications in the current year[188][189]. - The R&D investment increased by 8.68% compared to the previous year, reflecting the company's commitment to technological innovation[191]. Product Development and Innovation - New product development is underway, with an expected launch of two innovative products in Q2 2024[18]. - The company launched several new products, including the "Zhi Hong" super water meter and "AI Digital" secondary water supply equipment, enhancing its product portfolio[38]. - The company has developed an intelligent remote measurement terminal that integrates data collection, storage, and wireless communication, capable of monitoring pressure, flow, liquid level, and water quality in the water industry[137]. - The company has launched a leakage warning device that addresses the significant leakage issue in China's public water supply networks, which had a leakage rate of 14.12% in 2019, aiming to reduce it to below 9% by 2025[142]. - The company is focused on expanding its product offerings in the IoT space, enhancing data security and transmission reliability across its devices[138][139]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new regions by the end of 2024[18]. - The company is exploring strategic partnerships for market expansion and technology integration to strengthen its competitive position in the water management sector[134]. - The company aims to enhance its market presence through continuous innovation in product development and technology integration[68]. - The company is focusing on expanding its market presence through innovative product development and strategic partnerships in the water management sector[198]. Technology Integration and Digital Transformation - The company emphasizes the importance of data-driven management, transitioning from experience-based to intelligent data-driven approaches[51]. - The company aims to achieve digital water management and break down data collaboration barriers through a unified equipment management system[113]. - The company has developed a "data-model-application" three-layer collaborative intelligent closed-loop system, integrating digital twin technology and AI[187]. - The company is committed to leveraging its digital technology expertise to support the digital transformation of the water industry, aligning with national policies promoting high-quality digital economic development[179]. - The company has implemented a digital twin application service that integrates information models and real data to enhance product business activities[182]. Risk Management - The company has identified potential risks in its operations, which are detailed in the report[4]. - The company emphasizes the uncertainty of forward-looking statements regarding future plans and strategies[8]. - The company is committed to addressing the challenges of water resource management and leakage control through innovative product development and strategic market expansion[142]. Environmental and Social Responsibility - The company’s smart water solutions are designed to enhance water quality management, resource conservation, and carbon emission reduction, contributing to urban water safety[174]. - The company aims to enhance the resilience and safety of its water network against extreme flooding events through coordinated multi-objective scheduling[78]. - The company is focused on developing business scenario models that combine information models, business logic, and algorithms to support management and operational needs[70]. Customer Engagement and Service Improvement - The company focuses on a user-centered approach, facilitating online applications and payments to enhance customer experience[109]. - The integration of online and offline services aims to optimize the business environment and improve service quality[111]. - The company has developed an AI-driven intelligent service agent to enhance user interaction and service quality on the online platform[111]. - The company aims to enhance water quality management through the application of IoT remote control valves, enabling efficient incident response[198].