BEYONDSOFT(002649)2025-04-25 13:45Financial Performance - The company's operating revenue for 2024 was CNY 6,898,522,773.63, representing a 4.50% increase from CNY 6,601,201,346.89 in 2023[19]. - The net profit attributable to shareholders for 2024 decreased by 42.81% to CNY 124,275,412.15 from CNY 217,311,504.03 in 2023[19]. - The net profit after deducting non-recurring gains and losses for 2024 was CNY 101,789,214.42, down 38.85% from CNY 166,453,833.88 in 2023[19]. - The net cash flow from operating activities for 2024 was CNY 202,090,687.55, a decrease of 31.80% compared to CNY 296,334,842.98 in 2023[19]. - The total assets at the end of 2024 were CNY 5,849,378,366.32, an increase of 8.27% from CNY 5,402,817,835.76 at the end of 2023[20]. - The net assets attributable to shareholders at the end of 2024 were CNY 4,141,767,515.48, up 2.78% from CNY 4,029,832,768.26 at the end of 2023[20]. - The company reported a weighted average return on equity of 3.04% for 2024, down from 5.51% in 2023[20]. - The company experienced a significant decline in basic and diluted earnings per share, which fell to CNY 0.21 in 2024 from CNY 0.37 in 2023, a decrease of 43.24%[19]. Dividend Distribution - The company plans to distribute a cash dividend of 1.71 RMB per 10 shares based on a total share capital of 585,344,532 shares as of December 31, 2024[4]. - The total cash dividend amount for the current period is 100,093,914.97 yuan, which represents 100% of the total distributable profit of 798,031,289.06 yuan[154]. - For the fiscal year 2023, the company approved a cash dividend of 0.26 yuan per 10 shares, totaling 15,218,957.83 yuan distributed to shareholders[152]. - The company has maintained a cash dividend policy since its listing in 2012, with cumulative cash dividends over the past three years (2021-2023) accounting for over 80% of the average annual net profit attributable to shareholders[152]. Risks and Challenges - The company acknowledges risks including exchange rate fluctuations, goodwill impairment, technological innovation, and geopolitical risks[4]. - Financial expenses increased significantly by 22,572.61% to ¥8,115,944.44, primarily due to exchange rate fluctuations[81]. - The company is actively responding to geopolitical risks by optimizing its global business structure and enhancing local service capabilities in emerging markets[117]. Business Operations and Strategy - The company is focusing on enhancing its consulting services and integrating software and hardware capabilities to strengthen its market position in key industries[35]. - The company is actively expanding into emerging sectors such as digital agriculture and smart energy, establishing a multi-dimensional growth matrix[55]. - The company aims to drive the clean energy industry towards intelligent and sustainable profit growth through advanced drone technology and smart data analysis[83]. - The company is committed to expanding its market presence in property management and government regulation through data-driven decision support[85]. - The company aims to leverage these technological advancements to solidify its leading position in the digital economy era[86]. Research and Development - The company has achieved a 238.55% increase in capitalized R&D investment, rising from ¥2,907,723.82 in 2023 to ¥9,844,140.38 in 2024, with the capitalized R&D investment now accounting for 3.05% of total R&D investment[88]. - The total R&D investment decreased by 1.31% from ¥326,787,211.23 in 2023 to ¥322,500,384.00 in 2024, while the R&D investment as a percentage of operating revenue fell from 4.95% to 4.67%[88]. - R&D personnel increased by 2.63% from 3,040 in 2023 to 3,120 in 2024, with the proportion of R&D personnel rising from 9.62% to 9.78%[88]. Corporate Governance - The board of directors and senior management confirm the accuracy and completeness of the annual report[3]. - The company has established a clear asset independence from its largest shareholder, ensuring no misuse of funds or resources[122]. - The financial department operates independently with its own accounting system and tax obligations, with no interference from the largest shareholder[123]. - The company has a structured approach to governance, ensuring compliance with regulatory requirements[140]. - The company emphasizes performance-based compensation to align interests with shareholders[136]. Market Trends and Industry Insights - The software and information technology services industry in China is projected to grow by 10.0% in 2024, with total revenue reaching CNY 137,276 billion[28]. - The market size of generative AI software in China is expected to reach $3.54 billion by 2028, with a compound annual growth rate (CAGR) of 58.2%[29]. - The cloud services market in mainland China is projected to reach $40 billion in 2024, representing a year-on-year growth of 13%, with an expected increase to 15% in 2025[29]. - The domestic fintech market is anticipated to exceed $58 billion by 2027, growing at a CAGR of approximately 12%[32]. Employee and Talent Management - The total number of employees at the end of the reporting period is 31,912, with 6,271 in the parent company and 25,641 in major subsidiaries[149]. - The company has a systematic talent training system aimed at enhancing the comprehensive capabilities of management and core business personnel, with a focus on continuous improvement[151]. - The company has been awarded the "Best Employer in China" for the sixth consecutive year by CHIRC[150]. Financial Management and Cash Flow - The company reported a net cash flow from operating activities of ¥202,090,687.55, a decrease of 31.80% compared to the previous year due to increased operating expenses[92]. - The financing activities saw a net cash inflow of ¥109,103,042.04, a substantial increase of 160.13% due to changes in bank loans and dividend distributions[93]. - The company has completed several key projects, including a cross-industry intelligent fund supervision system with a capitalized investment of ¥1,429,474.78, aimed at enhancing urban governance[89]. Subsidiaries and Acquisitions - The company acquired one subsidiary, Boyan Energy, and established three new subsidiaries: Boyan Technology (Singapore), Boyan Vietnam, and FSPAY, while transferring four subsidiaries and deregistering two[78]. - The company has expanded its consolidation scope by adding 4 subsidiaries and reducing 6 compared to the previous year[78]. Technology and Innovation - The company is developing a smart agricultural decision support platform that integrates crop physiological mechanisms with advanced information technology, aiming to enhance crop yield and reduce agricultural input costs[87]. - The company has completed the development of several key projects, including the drone inspection system and the intelligent supervision platform, which are expected to open new market opportunities and enhance competitive advantages[83].