sailing(SZ:300588)2025-04-21 13:00Financial Performance - The company's operating revenue and net profit did not meet the expected targets due to multiple factors, including macroeconomic fluctuations and reduced investment budgets from major government clients[4]. - The overall development trend of the company remains consistent with the industry, with no significant adverse changes in core business or major financial indicators[4]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[5]. - The company’s financial report has been confirmed for accuracy and completeness by its management team[3]. - The company's revenue for 2024 was ¥162,742,890.05, representing a 2.34% increase compared to ¥159,018,023.77 in 2023[24]. - The net profit attributable to shareholders for 2024 was -¥60,552,546.21, a decrease of 50.80% from -¥40,154,047.71 in 2023[24]. - The operating cash flow for 2024 was -¥24,651,529.88, a significant decline of 178.39% compared to ¥31,448,688.39 in 2023[24]. - The total assets at the end of 2024 were ¥647,253,536.29, down 14.38% from ¥756,004,197.77 at the end of 2023[24]. - The net assets attributable to shareholders decreased by 16.75% to ¥320,030,826.09 at the end of 2024 from ¥384,442,514.67 at the end of 2023[24]. - The basic earnings per share for 2024 was -¥0.318, a decrease of 52.15% from -¥0.209 in 2023[24]. - The company reported a quarterly revenue of ¥48,634,157.35 in Q4 2024, with a net profit of -¥35,024,102.68 attributable to shareholders[26]. Business Strategy and Focus - The company maintains a focus on its core competencies and does not anticipate significant adverse changes in its main business[4]. - The company emphasizes the importance of investors understanding the differences between plans, forecasts, and commitments[4]. - The company has developed a digital intelligence open platform based on four core technologies: intelligent recognition prediction, big data modeling, process reengineering, and intelligent IoT[24]. - The company is focusing on digital governance and public security transformation through AI and big data technologies[24]. - The company aims to optimize its data industry structure and achieve an annual compound growth rate of over 15% by 2029, enhancing its innovation capabilities in data technology[49]. - The company aims to innovate its business model by transforming its production management platform "Yian Cloud" into a SaaS solution, enhancing competitive barriers in the network security assessment field[75]. - The company is actively involved in the development of smart city solutions, integrating various technologies to enhance urban governance and management[82]. Market and Industry Trends - The software industry in China is projected to generate revenue of ¥13.73 trillion in 2024, representing a growth rate of 10.0% compared to the previous year[34]. - The total profit for the software industry in China is expected to reach ¥16.95 billion in 2024, with a year-over-year growth of 8.7%[34]. - By 2028, China's big data IT spending is anticipated to reach $50.23 billion, accounting for about 8% of global spending, with a compound annual growth rate of approximately 21.9%[35]. - The digital transformation software market in China is projected to exceed $120 billion by 2028, with the SaaS segment's share increasing from 14.1% in 2023 to 16.8% in 2028[36]. - The Chinese cybersecurity market is expected to grow from ¥12.16 billion in 2023 to ¥20.2 billion by 2028, with a compound annual growth rate of 10.7%[41]. Risks and Challenges - Future plans and forward-looking statements in the report are subject to market condition changes and carry uncertainties[4]. - The company has detailed potential risks it may face in the report, particularly in the section discussing future development prospects[4]. - The company has experienced a continuous decline in net profit over the last three years, indicating uncertainty in its ability to continue as a going concern[24]. - The company recognizes macroeconomic risks, including inflation and international tensions, which could negatively impact its financial performance and is committed to improving operational performance[173]. - The company faces intensified competition in the software and information technology services industry, necessitating continuous innovation and technology investment to maintain its competitive advantage[174]. - The company is aware of the risks associated with high accounts receivable and long collection cycles, particularly from government and large enterprise clients[176]. Research and Development - The company has accumulated approximately 47.72 million yuan in R&D investment over the past three years (2022 to 2024), accounting for about 10% of total revenue[89]. - The company has established high-standard R&D platforms, including national-level postdoctoral research stations and provincial enterprise technology centers, and has participated in multiple national key research projects[90]. - The company has obtained 252 software copyrights and 36 authorized patents, including 35 invention patents, as of December 31, 2024[90]. - The company is developing a new SaaS-based data analysis platform aimed at enhancing data-driven decision-making capabilities[137]. - The company has launched several new software products, including the "Xiling Intelligent Graph Analysis Platform" and "Yidat Digital Application Construction Platform," enhancing its product offerings[121]. Governance and Management - The company adheres to strict governance practices, ensuring that all shareholders can exercise their rights and receive timely information about significant matters[185]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[186]. - The company maintains a commitment to transparent information disclosure, ensuring that all stakeholders have equal access to relevant information[187]. - The company has established a performance evaluation system linking senior management performance to compensation, ensuring transparency in the hiring and evaluation processes[187]. - The company’s governance structure complies with legal regulations and does not have significant discrepancies with the requirements set by the China Securities Regulatory Commission[190]. Customer and Market Engagement - The company serves over 500 government agencies and institutions, with the longest client relationship exceeding 20 years, and annual data analysis exceeding 200 billion times per product[88]. - The company aims to enhance brand and market efforts to better understand and guide client investment plans, aiming for a more balanced project implementation schedule[178]. - The company is focusing on expanding its market presence and enhancing its product offerings in the digital government and enterprise services sector[127]. Future Outlook - The company provided an optimistic outlook, projecting a revenue growth of 30% for the next quarter, aiming for $650 million[200]. - New product launches are expected to contribute an additional $100 million in revenue over the next fiscal year[200]. - Market expansion plans include entering three new international markets by Q3 2024, which could potentially increase user base by 20%[200]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $200 million allocated for potential deals[200].