YIJIAHE(SH:603666)2025-04-25 12:55Financial Performance - The company's operating revenue for 2024 was CNY 585,164,647.52, a decrease of 21.80% compared to CNY 748,278,448.88 in 2023[25]. - The net profit attributable to shareholders for 2024 was a loss of CNY 218,127,646.29, compared to a loss of CNY 10,056,413.64 in 2023[25]. - The net cash flow from operating activities decreased by 85.89% to CNY 3,587,441.55 in 2024 from CNY 25,417,483.36 in 2023[25]. - The total assets at the end of 2024 were CNY 3,376,416,720.65, down 12.33% from CNY 3,851,234,585.64 at the end of 2023[26]. - The net assets attributable to shareholders decreased by 9.11% to CNY 2,159,373,564.93 at the end of 2024 from CNY 2,375,871,055.36 at the end of 2023[26]. - The revenue from core business activities, after excluding unrelated income, was CNY 497,195,943.76, a decrease of 12.34% from CNY 567,178,642.96 in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 213,830,035.74 in 2024, compared to a loss of CNY 33,155,207.94 in 2023[25]. - The basic earnings per share for 2024 is -1.07 CNY, a decrease from -0.05 CNY in 2023[27]. - The company's operating revenue for 2024 decreased by 21.80% compared to the previous year, primarily due to lower investment and demand in the robotics sector[27]. - The net profit attributable to shareholders for 2024 decreased significantly, with a net loss of 137.90 million CNY in Q4 2024[30]. - The weighted average return on equity for 2024 was -9.62%, a decrease of 9.20 percentage points from the previous year[27]. - The company reported a total of 1.79 million CNY in government subsidies for 2024, down from 9.63 million CNY in 2023[32]. - The company recorded a total of -4.30 million CNY in non-recurring losses for 2024, reflecting various financial impacts[33]. Business Strategy and Development - The company plans not to distribute profits for the 2024 fiscal year due to a net loss, aiming to ensure sustainable development[8]. - The company has outlined various risks faced in its operations, detailed in the management discussion and analysis section[10]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[10]. - Research and development expenses increased as the company advanced its strategy of "embodied intelligent robots + industry applications," impacting overall profitability[28]. - The company is committed to AI technology development, focusing on deep research and application of "AI platform" and "data management platform" to enhance technical capabilities[38]. - The company is expanding its "embodied intelligence + industry application" strategy, exploring new application scenarios through AI technology to meet diverse market demands[40]. - The company is optimizing its organizational structure and management system to enhance operational efficiency and reduce costs[49]. - The company has established a comprehensive quality management system, focusing on quality training and special improvement activities to shorten development cycles, reduce operational costs, and enhance product quality[50]. - The company has made significant advancements in technology research and development, focusing on AI data platforms and multi-modal large models, enhancing product competitiveness[146]. - The company emphasizes an open talent strategy, continuously attracting high-end technical talent to strengthen its R&D capabilities and maintain a competitive edge in the industry[149]. Product Development and Innovation - The YJH-LM multimodal super-converged model achieved significant breakthroughs in architecture, function deployment, and model optimization, improving image generation efficiency and quality[39]. - The company has launched a comprehensive inspection system integrating various robotic technologies, which enhances inspection efficiency and emergency response capabilities[91]. - The company has upgraded its vehicle detection robot, which is now being piloted in Nanjing and Wuxi, improving inspection efficiency[46]. - The company launched the RK100 humanoid robot prototype, entering the testing phase, and developed motion capture and virtual reality technologies for training[47][48]. - The company has achieved significant results in the field of embodied intelligence, launching a humanoid robot prototype that has entered the product testing and trial phase[51]. - The company has developed a humanoid robot capable of fully automated operations for standardized tasks and inspections in high-risk environments, enhancing operational safety and efficiency in sectors like power, rail, and petrochemicals[111]. Market Trends and Industry Insights - The Chinese robot industry is projected to grow at an annual rate of over 20% by 2025, with a focus on high-end manufacturing and core technology breakthroughs[51]. - By 2025, the service and special robot industry applications are expected to significantly enhance their depth and breadth, promoting high-quality economic development[52]. - The commercial cleaning robot industry is experiencing rapid growth, driven by technological advancements and increasing market demand, with a focus on automation and efficiency[61]. - The company provides a diverse range of robotic products and intelligent services across various sectors, including electric power, commercial cleaning, new energy charging, and rail transportation[65]. - The smart operation robots are designed for automated tasks in high-risk environments, suitable for sectors like electric power and rail transportation[72]. Financial Management and Operations - The company employs a flexible procurement model, combining "just-in-time procurement" with strategic inventory to match production plans with actual demand, minimizing inventory risks[139]. - A comprehensive supplier management system has been established, focusing on quality, delivery, cost, and service, ensuring a robust supplier resource pool[140]. - The production model is based on "sales-driven production," allowing for quick adjustments to production plans in response to market demand, optimizing inventory structure and enhancing operational efficiency[142]. - The company has a diverse marketing strategy, targeting different customer segments through competitive bidding, direct sales, and service offerings in various business areas[143]. - The company has accumulated 363 authorized patents, including 136 invention patents, providing a solid foundation for continuous innovation and legal protection[148]. Investment and Infrastructure - The company is investing approximately RMB 300 million in the Yangzhou Intelligent Manufacturing Center project, with 54.76 acres of land acquired for development[199]. - As of the report date, the company has invested approximately RMB 25 million in the Yangzhou project, with ongoing construction activities[199]. - The company established a joint investment in Shenzhen Aiweike Technology Co., Ltd. with Jiang Hui and Zhang Jing, holding 55% of the shares after a restructuring in March 2025[194]. - The company exited its 21.05% stake in State Grid Ruijia (Tianjin) Intelligent Robot Co., Ltd., reducing its registered capital from RMB 190 million to RMB 150 million[197]. - The company holds a 16.20% stake in Tuodao Medical Limited, which was diluted after a financing round in early 2025[198].