Financial Performance - The company's operating revenue and net profit experienced a significant decline year-on-year due to a slowdown in market demand and intensified competition in the smart city industry [3]. - The company's operating revenue for 2024 was ¥223,633,009.11, a decrease of 45.46% compared to ¥410,009,814.78 in 2023 [19]. - The net profit attributable to shareholders for 2024 was -¥49,552,838.46, representing a decline of 875.60% from a profit of ¥6,389,000.49 in 2023 [19]. - The net cash flow from operating activities for 2024 was -¥54,239,504.38, a significant drop of 747.20% compared to ¥8,380,672.05 in 2023 [19]. - The basic earnings per share for 2024 was -¥0.74, down 840.00% from ¥0.10 in 2023 [19]. - The weighted average return on equity for 2024 was -6.28%, a decrease of 7.05% from 0.77% in 2023 [19]. - The company reported a quarterly revenue of ¥68,358,299.04 in Q4 2024, showing a sequential increase from previous quarters [21]. - The company experienced a net loss of -¥28,389,859.71 in Q4 2024, which is part of a trend of losses throughout the year [21]. Strategic Focus and Future Plans - The company plans to focus on "transformation and quality improvement" while seizing opportunities in the "digital economy" and combining internal growth with external mergers and acquisitions [3]. - The company aims to enhance its core competitiveness by consolidating existing advantages in smart governance, education, healthcare, transportation, and enterprises while steadily expanding into new businesses such as computing power services and digital energy [3]. - The company is committed to optimizing its industrial layout and product structure through enhanced capital operations and mergers and acquisitions [4]. - The company plans to explore new business paths in smart computing and data elements, leveraging its DRCA certification to develop data asset services and products [131]. - The company is focusing on expanding its market presence in smart rail, smart power, and smart enterprise sectors, enhancing its solution capabilities through technology research and project practice [132]. - The company is strategically positioning itself to capitalize on policy opportunities related to special bonds, new infrastructure, and urban governance, aiming to improve service quality and technical competitiveness [133]. Acquisitions and Investments - In 2024, the company completed the acquisition of Yiqi Data, becoming one of the first data brokers in Guangdong Province, and obtained the national first batch of data rights confirmation compliance DRCA certificate [4]. - The company completed a strategic acquisition of Yiqi Data, a data broker with multiple data products, enhancing its data service capabilities [66]. - The company has raised a total of RMB 573,117,480.00 through the issuance of 11,778,000 shares at a price of RMB 48.66 per share [109]. - The company has committed to investing RMB 27,936.15 million in various projects, with RMB 27,285.67 million already invested [112]. Market and Industry Trends - In 2024, the software business revenue in China reached CNY 1,372.76 billion, a year-on-year growth of 10.0% [31]. - The total profit for the software and information technology service industry was CNY 169.53 billion, reflecting an 8.7% increase year-on-year [31]. - The domestic data factor market is projected to reach CNY 1.3 trillion in 2024, with a compound annual growth rate of 25% [43]. - The digital economy is expected to see significant advancements driven by AI and digital infrastructure integration by 2025 [32]. Operational Challenges and Risks - The company has acknowledged significant impacts on profits due to provisions for accounts receivable impairment and equity incentives [3]. - Future plans and forward-looking statements in the annual report do not constitute substantial commitments to investors, who should maintain adequate risk awareness [4]. - The company emphasizes the importance of risk awareness regarding potential operational risks and corresponding countermeasures in its future development outlook [6]. - The company faces risks from intense market competition, which could hinder its ability to maintain technological advancement and market share [136]. - The company has a large balance of accounts receivable due to strict payment approval processes from its main clients, which could lead to delayed payments [139]. Research and Development - The company has established a research and development system with centers in Shantou and Shenzhen, holding 358 software copyrights and 9 patents as of December 31, 2024 [60]. - The company increased its R&D personnel from 74 to 109, representing a growth of 47.30% [91]. - R&D expenditure for 2024 is projected at ¥17,311,262.53, accounting for 7.74% of operating revenue, up from 4.36% in 2023 [91]. - The company is focusing on integrating IoT devices for improved urban governance and quality of life [90]. Corporate Governance - The company held 5 shareholder meetings during the reporting period, passing a total of 22 resolutions [145]. - The board of directors consists of 8 members, including 3 independent directors, and held 7 meetings, passing 40 resolutions [147]. - The supervisory board has 3 members and held 6 meetings, passing 30 resolutions during the reporting period [148]. - The company has established a performance evaluation and incentive mechanism for senior management, combining base salary with annual performance assessments [150]. - The company ensures transparent information disclosure through various platforms, including major financial newspapers and its official website [151]. Employee and Compensation - The total number of employees at the end of the reporting period is 373, with 199 in the parent company and 174 in major subsidiaries [193]. - Total employee compensation amounts to ¥10,633,612.2, accounting for 5.48% of the company's operating costs of ¥194,156,829.92 [195]. - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 3.6436 million CNY [182]. - The chairman, Lin Mingling, received a pre-tax remuneration of 736,100 CNY, while the general manager, Ma Xuepei, received 560,200 CNY [182].
天亿马(301178) - 2024 Q4 - 年度财报