VASTDATA(SH:603138)2025-04-17 10:25Financial Performance - The company reported a net profit of 68,841,830.03 RMB for the fiscal year 2024, with no cash dividends or stock bonuses proposed for distribution [6]. - The company's operating revenue for 2024 reached ¥372,473,893.27, representing a 42.26% increase compared to ¥261,832,119.03 in 2023 [22]. - The net profit attributable to shareholders was -¥63,327,031.09 in 2024, an improvement from -¥81,182,664.84 in 2023 [22]. - The net cash flow from operating activities improved significantly to ¥27,712,915.10 in 2024, compared to -¥69,301,638.10 in 2023 [22]. - Total assets increased by 16.08% to ¥1,056,120,056.01 at the end of 2024, up from ¥909,805,428.07 at the end of 2023 [22]. - The basic earnings per share for 2024 was -¥0.22, an improvement from -¥0.29 in 2023 [23]. - The weighted average return on equity improved to -7.72% in 2024 from -9.50% in 2023 [23]. - The gross profit margin decreased by 1.86 percentage points to 37.35% [52]. - The company reported a loss per share of RMB -0.22 and a net asset value per share of RMB 2.77 for the year 2024 [166]. Audit and Compliance - The company has received a standard unqualified audit report from Zhihong Accounting Firm, ensuring the accuracy and completeness of the financial statements [5]. - The internal control audit report issued by the accounting firm was a standard unqualified opinion [128]. - The audit opinion confirms that the financial statements fairly reflect the company's financial position and operating results for 2024 [189]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors [98]. - The company has established a comprehensive corporate governance structure, including a board of directors and supervisory board, to ensure compliance and effective operation [93]. Risk Management - The company has outlined potential risks in its future development strategy, which investors are advised to consider [10]. - The company recognizes potential risks, including technology risks due to rapid updates and the need for continuous R&D investment to maintain a competitive edge [88]. - The company faces significant market risks due to competition from established foreign database vendors, which hold a substantial market share [90]. - The company is committed to maintaining liquidity to manage stock price fluctuations effectively [137]. Research and Development - R&D investment for 2024 reached 197 million yuan, an increase of 33.31% compared to the previous year, leading to the release of the upgraded Vastbase G100 V3.0 version [34]. - The company has obtained 42 invention patents and has 79 patents under substantive review, recognized as a "Knowledge Property Advantage Unit" by the Beijing Intellectual Property Bureau [34]. - The company has implemented two R&D models: endogenous R&D and demand-driven R&D, ensuring product usability and innovation [44]. - The company aims to enhance its product R&D and service innovation capabilities to navigate future challenges and opportunities [42]. Market Position and Strategy - The company continues to focus on its core business in database management systems and big data solutions [13]. - The company is focusing on the development of a full-stack digital ecosystem centered around self-developed databases, aiming to enhance product R&D capabilities and meet user demands [82]. - The domestic database market is experiencing rapid growth, with local vendors increasingly competing with international firms in terms of product stability and performance [79]. - The company aims to strengthen its marketing service network and improve user response speed to enhance user service experience, while also increasing market share of its database products [82]. Shareholder and Management Information - The total number of shares held by senior management increased from 1,076,232 at the beginning of the year to 3,196,232 by the end of the reporting period, representing a growth of 197% [100]. - The total pre-tax remuneration for senior management during the reporting period amounted to 3.6574 million yuan, with the highest individual remuneration being 60.36 million yuan for the president [100]. - The company has a diverse management team with extensive experience in technology and finance, enhancing its strategic capabilities [101]. - The company has established a standardized performance evaluation and incentive mechanism for senior management, which includes basic salary, performance salary, and equity incentives [125]. Corporate Governance - The board consists of 7 members, including 3 independent directors, ensuring diverse expertise and objective decision-making [96]. - During the reporting period, the company held 2 shareholder meetings and 5 board meetings, ensuring transparency and adherence to governance protocols [94]. - Independent directors have fulfilled their responsibilities and played their roles effectively in the decision-making process [120]. - The company has established a compensation and performance assessment management system for its directors and senior management [103]. Environmental and Social Responsibility - The company did not invest any funds in environmental protection during the reporting period [129]. - The company is not classified as a key pollutant discharge unit and adheres to environmental protection laws without any violations [131]. - The company did not take any carbon reduction measures during the reporting period [132]. - The company has not reported any overdue amounts for its entrusted financial management activities [149]. Investment and Financial Management - The company has invested a total of 25.03 million RMB in bank wealth management products sourced from raised funds, with no overdue amounts [148]. - The company has also invested 28 million RMB from its own funds in bank wealth management products, with no overdue amounts [148]. - The company approved the use of up to RMB 300 million of idle raised funds for cash management, allowing for the purchase of safe and liquid financial products [157]. - The company’s cash management strategy includes rolling use of funds within a twelve-month period [157][158].