HAOHAN DATA(SH:688292)2025-04-24 13:30Financial Performance - The company's revenue for 2024 was approximately ¥442.28 million, a decrease of 15.03% compared to ¥520.50 million in 2023[22]. - The net profit attributable to shareholders for 2024 was approximately ¥36.12 million, down 42.58% from ¥62.91 million in 2023[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥25.56 million, a decline of 44.05% from ¥45.68 million in 2023[22]. - The net cash flow from operating activities for 2024 was approximately ¥92.02 million, a decrease of 45.94% compared to ¥170.20 million in 2023[22]. - The total net assets attributable to shareholders at the end of 2024 were approximately ¥1.04 billion, a slight increase of 0.16% from ¥1.04 billion at the end of 2023[22]. - Basic earnings per share decreased by 42.50% to CNY 0.23 in 2024 from CNY 0.40 in 2023[24]. - Net profit attributable to shareholders decreased by 42.58%, primarily due to delayed revenue recognition from China Mobile's procurement orders[24]. - The company reported a significant increase in inventory impairment provisions due to prolonged inventory aging caused by delayed contract execution[24]. - The company did not receive any listing or relocation subsidies in the current reporting period, which had previously contributed approximately CNY 9.61 million in the last year[24]. Dividend and Share Repurchase - The company plans to distribute a cash dividend of 1.20 RMB per 10 shares, totaling approximately 18.79 million RMB, which represents 52.03% of the net profit attributable to shareholders for the year 2024[5]. - The total amount for cash dividends and share repurchase is approximately 48.97 million RMB, accounting for 135.58% of the net profit attributable to shareholders for the year 2024[5]. - The company has conducted share repurchases amounting to RMB 30,176,117.29 during the year[186]. - The company has a policy to distribute at least 10% of the distributable profit as cash dividends annually, with a cumulative distribution of at least 30% over any three consecutive years[4]. - The board of directors has approved the profit distribution plan, which is subject to shareholder approval[187]. Research and Development - Research and development expenses as a percentage of operating revenue increased by 6.20 percentage points to 25.46% in 2024 from 19.26% in 2023[24]. - Research and development investment reached 112.62 million yuan, accounting for 25.46% of operating revenue, with a year-on-year growth of 12.35%[36]. - The total R&D investment for the year reached ¥112,619,644.41, a 12.35% increase compared to the previous year, with R&D expenses accounting for 25.46% of operating revenue[91][92]. - The company has obtained 37 new patents during the reporting period, bringing the total number of intellectual properties to 582, including 92 invention patents[90]. - The company has made significant advancements in AI large model technology, launching the Haohan Morning Star Model v1.1, which enhances the AgentTool calling capability and supports major domestic and international database products[86]. Operational Risks and Compliance - The company has outlined various operational risks and corresponding countermeasures in the report[3]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not violated decision-making procedures for providing guarantees[9]. - The company has not faced any issues with a majority of directors being unable to ensure the authenticity, accuracy, and completeness of the annual report[9]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, urging caution regarding investment risks[8]. Market and Industry Trends - The software and information technology services industry in China saw software business revenue reach 1.37276 trillion yuan, a year-on-year increase of 10.0%, and total profits of 169.53 billion yuan, up 8.7%[47]. - The network visualization market is expected to exceed 100 billion yuan by 2027, driven by increasing data traffic and the implementation of the "New Infrastructure" strategy[51]. - The network security market in China is projected to maintain a growth rate of over 15% annually, with an expected market size approaching 400 billion yuan by 2026[60]. - The information security industry is entering a new historical opportunity period, particularly in cloud security and IoT security markets, which are expected to see rapid growth due to increasing security concerns[61]. - The company is positioned to benefit from the "East Data West Computing" strategy, which emphasizes the need for enhanced network bandwidth and infrastructure[53]. Corporate Governance and Management - The company has established a robust corporate governance structure, holding 9 board meetings, 7 supervisory meetings, and 3 shareholder meetings during the reporting period, ensuring compliance with regulatory requirements[155]. - The chairman of the board, Zhang Yue, holds 39,383,801 shares, with no change during the reporting period, and received a pre-tax remuneration of 187.54 million yuan[159]. - The company’s vice chairman and general manager, Wei Qiang, increased his shareholding by 72,000 shares due to equity incentives, with a total pre-tax remuneration of 173.24 million yuan[159]. - The company has implemented stock incentive plans for key personnel, with total stock options amounting to 367,000[160]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 996.90 million RMB[166]. Strategic Initiatives and Future Outlook - The company plans to focus on key areas such as big network security, data elements, and intelligent applications over the next 3 to 5 years[149]. - The company aims to enhance its capabilities in 5G, data centers, and industrial internet solutions, contributing to national network security[149]. - The company will actively participate in the construction and expansion of the data element market, maximizing its potential value[150]. - The company intends to integrate advanced AI technologies into its products and services, focusing on areas like AI+ cybersecurity and AI+ deepfake detection[151]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[162].