Financial Performance - Newlink Technology Inc. reported a revenue increase of 15% year-over-year, reaching $120 million for the fiscal year 2024[4]. - In 2024, the company achieved a revenue growth of 13.6% compared to 2023, reaching RMB 278.8 million[17]. - The company projects a revenue growth of 20% for the next fiscal year, targeting $144 million[4]. - Gross profit for 2024 increased by 4.9% year-on-year, amounting to RMB 38.9 million[17]. - The gross margin improved to 45%, up from 40% in the previous year[4]. - The company recorded a net loss of RMB 93.0 million for 2024, compared to a loss of RMB 69.7 million in 2023[15]. - The pre-tax loss for 2024 was RMB 96.1 million, compared to a pre-tax loss of RMB 71.0 million in 2023[64]. - Annual loss for 2024 was RMB 93.0 million, a 33.4% increase from RMB 69.7 million in 2023, mainly due to losses from equity investments and increased operating expenses[66]. User Growth and Market Expansion - The user base expanded by 25%, with active users now totaling 1.5 million[4]. - The company plans to enter two new international markets by Q3 2025, aiming to increase global presence[4]. - The establishment of a new subsidiary in Shanxi aims to enhance the company's market strategy in North China[12]. - The company has established a stable customer base, including 10 Fortune 500 clients and 12 China 500 clients, contributing to its revenue growth[41]. Research and Development - Newlink is investing $10 million in R&D for new product development, focusing on AI and automation technologies[4]. - R&D expenditure for 2024 was RMB 71.5 million, a 69.0% increase from RMB 42.3 million in 2023, driven by increased amortization of deferred development costs and direct R&D expenses[60]. - The company continues to focus on R&D in AI and big data analytics, enhancing its IT solutions to meet customer needs[42]. Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[22]. - The board's composition ensures a balance of executive and independent oversight, enhancing corporate governance[26]. - The board is committed to maintaining high standards of corporate governance to enhance shareholder value and transparency[97]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the company's affairs[120]. Shareholder Engagement - The company has a dividend policy that allows for the declaration of dividends at the shareholders' meeting, provided it does not impair the company's ability to meet its debts[149]. - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[155]. - The company has established procedures for shareholders to request special meetings, requiring at least 10% of voting shares[151]. Awards and Recognition - The company received multiple awards in 2024, including the "Industry Influence Award" and "Outstanding Medical Technology Innovation Award"[14]. - Newlink Technology was selected as one of the "Top 100 Financial Technology Companies in China" at the 2024 Zhongguancun Forum, highlighting its competitive position in the fintech sector[173]. - The company received the "2023 Outstanding Service Partner Award" from a major joint-stock bank client, indicating strong client relationships and service quality[169]. Environmental, Social, and Governance (ESG) - Newlink Technology emphasizes environmental protection as a key development strategy while pursuing its business goals, reflecting its commitment to ESG principles[168]. - The board is committed to monitoring ESG risks and adjusting business strategies accordingly, ensuring effective management of ESG issues[181]. - The company has set quantifiable environmental goals related to greenhouse gas emissions, resource consumption, and waste management[182]. - The ESG governance structure includes an ESG working committee and cross-departmental teams to implement and track ESG policies[184].
新纽科技(09600) - 2024 - 年度财报