SGSG(300561)2025-04-22 14:25Financial Performance - The company achieved operating revenue of RMB 89,833,754.57, a year-on-year decrease of 35.45%[4] - The net profit loss amounted to RMB 23,217,088.21, indicating a significant decline in profitability[4] - The decline in sales was attributed to the procurement cycle of bank self-service equipment cash management system solutions and increased market competition, leading to a drop in sales prices and gross profit[4] - The company’s total profit, net profit, and net profit after deducting non-recurring gains and losses were all negative, resulting in a delisting risk warning from the Shenzhen Stock Exchange[6] - The company's operating revenue for 2024 was ¥89,833,754.57, a decrease of 35.45% compared to ¥139,177,938.68 in 2023[21] - The net profit attributable to shareholders for 2024 was -¥21,193,282.28, representing a decline of 505.15% from a profit of ¥5,231,023.73 in 2023[21] - The basic earnings per share for 2024 was -¥0.0646, down 506.29% from ¥0.0159 in 2023[21] - The company reported a significant increase in cash flow in Q2 2024, reaching ¥13,761,692.05, compared to -¥18,093,340.06 in Q1 2024[23] - The company experienced a net loss of -¥17,115,423.26 in Q4 2024, which was the highest quarterly loss for the year[23] Cash Flow and Assets - The cash flow from operating activities increased by 17.18% to ¥42,868,323.67 in 2024, compared to ¥36,582,900.10 in 2023[21] - Total assets at the end of 2024 were ¥643,292,554.20, a decrease of 5.10% from ¥677,831,661.11 at the end of 2023[21] - The company’s cash and cash equivalents increased by 155.46% to 9,311,429.05 yuan in 2024, compared to a decrease in the previous year[82] - As of the end of 2024, cash and cash equivalents increased to ¥16,631,584.55, representing 2.59% of total assets, up from 1.19% at the beginning of the year, primarily due to the maturity of financial investments and increased bank deposits[86] - Accounts receivable decreased to ¥34,617,887.06, accounting for 5.38% of total assets, down from 11.08%, mainly due to a decline in sales and improved turnover rates[86] - Inventory reduced to ¥30,249,455.90, making up 4.70% of total assets, down from 5.52%, attributed to a corresponding decrease in sales[86] Risk Management and Internal Controls - The company faces risks related to product innovation, market expansion, reliance on the banking industry, and declining gross margins[7] - The internal control audit report for 2024 received a negative opinion from the accounting firm, indicating significant internal control deficiencies[6] - The company reported a significant internal control deficiency, leading to a negative opinion from the auditing firm, which stated that the company failed to maintain effective financial reporting internal controls as of December 31, 2024[156] - The company has established a comprehensive internal control system, focusing on risk management and compliance training for key personnel[152] Research and Development - Research and development expenses amounted to 14.73 million yuan, representing 16.39% of total revenue[52] - The company has 146 authorized patents, including 40 invention patents, and added 12 new patents in 2024[47] - The company is focusing on digital transformation in the financial sector, aligning with trends in big data, cloud computing, and artificial intelligence[30] - The company aims to enhance its digital operational capabilities and risk management levels through increased investment in financial technology, focusing on big data, AI, cloud computing, blockchain, and IoT[100] Governance and Management Changes - The company has established a governance structure in compliance with relevant laws and regulations, enhancing operational transparency and shareholder rights[116] - The company appointed Ma Detao as the new General Manager starting January 15, 2024, following the resignation of Chen Zhe from the position[126] - The company experienced a change in its board composition, with several directors and senior management resigning or being appointed during the reporting period[126] - The company is committed to maintaining stability in its governance structure despite the recent changes in management[125] Market and Competitive Position - The company is heavily reliant on the banking sector, making its performance sensitive to changes in the banking industry's operational conditions[107] - The company is exposed to the risk of declining gross margins due to competitive pressures in the rapidly evolving fintech sector, necessitating a focus on maintaining market share[108] - The company emphasizes the importance of retaining core technical talent to sustain its development and has implemented a comprehensive talent management system[110] Future Outlook and Strategic Plans - Future plans and operational strategies are subject to risks, and investors are advised to maintain awareness of these risks[5] - The company is actively exploring new business opportunities and products that align with national policies and industry trends[41] - The company plans to maintain customer resources and expand sales channels to explore market potential, establishing strong relationships with suppliers to enhance service capabilities[103] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million yuan earmarked for potential deals[134] Shareholder and Dividend Policies - The company plans to distribute a cash dividend of RMB 0.35 per 10 shares (including tax) based on 328,107,975 shares[8] - The total cash dividend represents 100% of the distributable profit of 139,438,640.81 RMB[150] - The cash dividend distribution is aimed at balancing immediate and long-term shareholder interests[151] - The company has committed to a profit distribution policy, specifically a cash dividend policy, to ensure reasonable returns for investors[169]