HUAXING CHUANGYE(SZ:300025)2025-04-24 16:00Financial Performance - The net profit attributable to shareholders for the year 2024 was -78.48 million yuan, a decrease of 207.88% year-on-year[5]. - The company's operating revenue for 2024 was ¥690,887,760.61, a decrease of 2.06% compared to ¥705,444,743.20 in 2023[25]. - The net profit attributable to shareholders for 2024 was -¥78,479,949.96, representing a decline of 207.88% from -¥25,490,667.46 in 2023[25]. - The cash flow from operating activities for 2024 was -¥53,591,596.49, a significant decrease of 194.67% compared to -¥18,187,273.92 in 2023[25]. - The total assets at the end of 2024 were ¥970,217,287.74, down 3.61% from ¥1,006,503,442.93 at the end of 2023[25]. - The net assets attributable to shareholders decreased by 13.44% to ¥580,420,376.05 at the end of 2024 from ¥670,516,788.67 at the end of 2023[25]. - The basic earnings per share for 2024 was -¥0.1542, a decline of 205.95% from -¥0.0504 in 2023[25]. - The weighted average return on net assets for 2024 was -12.55%, a decrease of 8.75 percentage points from -3.80% in 2023[25]. - The company reported a significant increase in non-operating losses, with total non-recurring gains and losses amounting to ¥4,167,799.97 in 2024[32]. - The company experienced a quarterly net profit loss in Q4 2024 of -¥38,010,817.79, contributing to the overall annual loss[28]. Revenue Sources and Client Relationships - Sales revenue from major clients, including China Mobile, Huawei, and ZTE, accounted for 76.00% of total revenue in 2024, down from 81.50% in 2023[6]. - The company maintains a stable scale in mobile communication technology services, with significant collaboration with major clients such as China Mobile, Huawei, and ZTE[39]. - The company's main business revenue after deducting rental income was ¥675,198,498.09 for 2024, compared to ¥690,421,461.41 in 2023[25]. - Revenue from network optimization and services was CNY 647.74 million, accounting for 93.75% of total revenue, with a gross margin of 8.08%[50]. - The top five customers contributed a total sales amount of 603,574,379.45 CNY, accounting for 87.37% of the annual sales[58]. Cost and Expense Management - In 2024, the total operating costs amounted to 628,505,541.00 CNY, reflecting a year-on-year increase of 2.97% compared to 610,370,802.00 CNY in 2023[56]. - Labor costs in the communication services sector reached 167,476,847.00 CNY, accounting for 26.65% of operating costs, up from 24.34% in 2023, marking a 12.71% increase[56]. - Direct costs were 450,613,726.00 CNY, representing 71.70% of operating costs, slightly up by 0.84% from 446,858,856.00 CNY in 2023[56]. - The company reported a significant reduction in indirect costs, which fell by 30.20% to 10,414,967.90 CNY, down from 14,921,253.60 CNY in 2023[56]. - Research and development expenses increased by 25.79% to 38,424,321.56 CNY, compared to 30,546,751.91 CNY in 2023[60]. - Financial expenses surged by 149.80% to 4,428,237.46 CNY due to increased financing scale and interest expenses[60]. Strategic Initiatives and Market Expansion - The company plans to explore new profit growth points in the 5G application business to mitigate reliance on major clients[7]. - The company is actively exploring new profit growth points in the 5G new terminal application business, driven by the rapid development of new technologies and services[41]. - The company has expanded its overseas business to Thailand and Sri Lanka during the reporting period, indicating a focus on market expansion[39]. - The company is entering the rapidly developing virtual reality sector, with the development cycle of the licensed "Three-Body" IP product facing significant uncertainty[10]. - The company is focusing on 5G-A technology development, aiming to enhance communication services and optimize solutions for vertical industry applications[61]. Research and Development - The company is actively developing new technologies and products to keep pace with industry advancements, emphasizing the importance of maintaining core technological advantages[7]. - The company is focusing on enhancing its market competitiveness through the establishment of a shared maintenance platform with telecom partners, aiming for improved operational efficiency[63]. - The company has achieved a 21.23% increase in R&D personnel, totaling 257, with a 5.56% R&D expenditure to revenue ratio, up from 4.33% in 2023[65]. - The R&D investment for 2024 amounts to approximately ¥38.42 million, marking a significant increase from ¥30.55 million in 2023[65]. - The company is leveraging UWB technology to improve positioning accuracy and reduce costs for LBE VR large space projects, with preliminary tests showing enhanced performance[63]. Corporate Governance and Management - The company has established a transparent and fair performance evaluation and incentive mechanism for its directors and senior management[90]. - The company has a complete and independent organizational structure, with clear responsibilities for each department, avoiding any interference[95]. - The company has maintained a consistent leadership structure, with key executives holding long-term positions, suggesting stability in management[108][109]. - The total remuneration for directors, supervisors, and senior management in 2024 amounted to 3.1244 million yuan, reflecting an increase compared to the previous year due to the hiring of a new financial director[117]. - The company has appointed multiple independent directors with extensive experience in various industries, enhancing its governance structure[104][105][106][107][112]. Compliance and Risk Management - The company emphasizes risk management and internal control, ensuring compliance with relevant laws and regulations[85]. - The company has not reported any significant internal control deficiencies during the reporting period[138]. - The company has committed to improving its corporate governance structure in accordance with relevant laws and regulations[138]. - The company has a strong focus on compliance and regulatory standards, as evidenced by the qualifications of its board members and management team[112]. Environmental and Social Responsibility - The company has implemented a series of measures to reduce carbon emissions, including promoting paperless operations and optimizing resource allocation[144]. - The company adheres to a sustainable development strategy, focusing on efficiency, energy conservation, and pollution reduction[147]. - The company complies with labor laws and regulations, ensuring fair labor practices and employee rights[146]. - The company has not engaged in any targeted poverty alleviation work during the reporting period and has no subsequent plans[148]. Shareholder Structure and Equity - The total number of shares is 508,792,922, with 15.14% being limited sale condition shares and 84.86% being unrestricted sale condition shares[190]. - The largest shareholder, Wan Rui Chuang Xiang, holds 15.82% of the shares, with a decrease of 40,700,010 shares during the reporting period[193]. - The total number of shareholders at the end of the reporting period is 17,355, with no changes in voting rights reported[191]. - The company has not reported any changes in the voting rights of preferred shareholders during the reporting period[95]. - The company has not reported any changes in the actual controller or shareholder structure during the reporting period[192].