DeepGlint(688207)2025-04-25 13:23Financial Performance - The company reported a negative retained earnings balance, leading to a profit distribution plan of no cash dividends, no bonus shares, and no capital reserve transfer to share capital for the 2024 fiscal year[5]. - The company has not achieved profitability since its listing, indicating ongoing financial challenges[3]. - The total revenue for 2024 was CNY 117,239,442.16, representing a 55.30% decrease compared to CNY 262,285,838.42 in 2023[21]. - The net profit attributable to shareholders for 2024 was CNY -211,596,823.40, a decline from CNY -90,333,238.74 in 2023[21]. - The cash flow from operating activities for 2024 decreased by CNY 146,501,762.62, compared to CNY -31,244,768.97 in 2023[21]. - Basic earnings per share for 2024 were CNY -0.84, down from CNY -0.35 in 2023[22]. - The company's net assets attributable to shareholders at the end of 2024 were CNY 2,036,129,040.93, a decrease of 10.86% from CNY 2,284,240,368.83 in 2023[21]. - The weighted average return on equity for 2024 was -9.73%, compared to -3.89% in 2023[22]. - The net profit attributable to the parent company was -211.60 million RMB, with a net profit excluding non-recurring gains and losses of -226.53 million RMB, indicating an expanded loss year-on-year due to revenue decline[30]. Operational Risks and Compliance - The company has detailed various operational risks and corresponding mitigation strategies in the report[3]. - There are no non-operating fund occupations by controlling shareholders or related parties, ensuring financial integrity[7]. - The company has not violated decision-making procedures for external guarantees, maintaining compliance with regulations[7]. - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report[3]. - The company is subject to forward-looking statement risks, cautioning investors about potential uncertainties in future plans[6]. - The company has not proposed any special governance arrangements or important matters that deviate from standard practices[8]. Research and Development - Research and development expenses accounted for 161.18% of total revenue in 2024, up from 70.14% in 2023[23]. - The company plans to invest a total of 368 million RMB over three years in the "Multi-modal Large Model Technology and Application R&D Project" to enhance model performance and drive high-quality development[30]. - The company has established a special team for domestic innovation (信创) products, achieving over 90% accuracy and recall rates in its financial products while enhancing algorithm training efficiency[32]. - The company is currently developing a multimodal model with an expected total investment of ¥368.32 million, with ¥64.41 million invested to date[83]. - The company is in the research phase of a project integrating multi-video streams and radar data, with a total expected investment of ¥434 million[83]. - The company is developing a stable communication device for harsh electromagnetic environments, with a total investment of ¥930 million and ¥46.86 million invested so far[83]. Technology and Product Development - The self-developed visual large model, Unicom, has achieved significant performance in AI algorithm delivery efficiency and surpassed industry benchmarks in academic evaluations[31]. - The company has successfully implemented AI products in over 10,000 branches of the Agricultural Bank of China, covering various financial business scenarios[37]. - The company has developed a series of sports education products that have been piloted in multiple campuses, contributing to national standards for student health testing[37]. - The company has launched a sports training evaluation solution that supports over 30 assessment subjects, integrating with a sports examination system platform[85]. - The company has developed multiple core technologies in computer vision, achieving high accuracy rates in various recognition tasks, such as 99.1% in facial recognition[91][92]. - The company has established a comprehensive AI technology platform, enhancing the efficiency of algorithm model development and reducing costs associated with data labeling[93]. Market and Revenue Trends - The company reported a total revenue of 96,726.44 million RMB, with a net profit of 18,784.13 million RMB, representing a significant increase compared to the previous period[88]. - The company’s revenue from urban management solutions reached CNY 3,256.49 million, with a gross margin of 70.48%, reflecting a year-on-year increase of 3.26% in revenue[115]. - Revenue from smart finance products and solutions was CNY 5,399.55 million, with a gross margin of 46.53%, showing a significant decline of 75.49% compared to the previous year[115]. - The total revenue from domestic operations amounted to CNY 11,723.94 million, with a gross margin of 52.49%, which is a decrease of 55.30% year-on-year[115]. - The company has signed a major sales contract with Agricultural Bank of China for CNY 63,687.14 million, with CNY 3,298.04 million fulfilled in the current reporting period[118]. Governance and Management - The company has established a governance structure comprising the shareholders' meeting, board of directors, supervisory board, and senior management, ensuring clear responsibilities and effective operation[150]. - The company has revised its internal regulations, including the "Insider Information Registration and Filing System" and "Brand and Public Opinion Management System," to enhance governance practices[150]. - The company has appointed a new general manager, indicating a change in leadership that may impact future operations[155]. - The total pre-tax remuneration for the chairman was reported at 175.16 million yuan, reflecting compensation practices for senior management[155]. - The company has seen significant leadership changes, including the departure of the CFO and several board members[156]. Employee and Talent Management - The company has a research and development team of 231 people, accounting for 62.94% of the total workforce, with R&D investment reaching 188.97 million, a year-on-year increase of 2.72%[100]. - The company emphasizes a transparent and competitive compensation system to enhance employee motivation and performance[175]. - The company has implemented a comprehensive training program to improve employee skills and management efficiency[177]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 1,024.26 million[162]. Environmental and Compliance - The company has not invested any funds in environmental protection during the reporting period, with an investment amount of 0 million yuan[187]. - The company does not fall under the category of key pollutant discharge units as defined by environmental protection departments[188]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[189]. - The company has established a data security management team and complies with international standards such as ISO27001, ensuring data safety and compliance[193].