RAISECOM(SH:603803)2025-04-25 14:15Financial Performance - The company's total revenue for 2024 was RMB 1,382,297,864.09, a decrease of 14.99% compared to RMB 1,626,065,194.45 in 2023[25] - The net profit attributable to shareholders for 2024 was RMB -122,488,723.21, showing an improvement from RMB -202,334,512.78 in 2023[25] - The net cash flow from operating activities decreased by 93.03%, amounting to RMB 21,881,255.79 in 2024 compared to RMB 313,995,508.93 in 2023[25] - The company's net assets attributable to shareholders decreased by 7.38%, totaling RMB 1,617,152,412.87 at the end of 2024, down from RMB 1,746,100,316.70 at the end of 2023[25] - The basic earnings per share for 2024 was -0.28, an improvement from -0.47 in 2023[27] - The weighted average return on equity for 2024 was -7.28%, an improvement from -10.99% in 2023[27] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of RMB -148,213,506.79 for 2024[25] - The net profit attributable to shareholders of the listed company was -RMB 122 million for the reporting period[34] - Total assets at the end of the reporting period amounted to RMB 2.678 billion, down 9.92% year-on-year[34] - The cash flow from operating activities was RMB 22 million during the reporting period[34] Dividend Policy - The company does not plan to distribute cash dividends or implement any form of profit distribution for 2024 due to the operating loss[6] - The company will not conduct cash dividends or other profit distribution forms for the 2023 fiscal year due to operational losses[142] - The company has implemented a three-year shareholder dividend return plan for 2024-2026, reflecting a commitment to shareholder value[115] - The company has accumulated a total cash dividend of 310 million since its listing in 2017, but due to a loss in 2023, it will not distribute dividends this year[142] Research and Development - The company invested 323 million yuan in R&D in 2024, accounting for 23.40% of its annual sales revenue, with R&D personnel making up 42% of the total workforce[44] - The company has optimized its product sales structure, with a significant increase in the proportion of high-value products like IP/MPLS and DWDM, enhancing overall profitability and brand value[43] - The company has successfully implemented a large-capacity OTN product development, significantly improving metropolitan transmission and county-level carrying capacity[45] - The company has participated in the formulation of 56 standards in the telecommunications industry, enhancing its intellectual property reserves with 499 authorized patents and 167 software copyrights by the end of 2024[46] - The company has introduced innovative 5G solutions, including micro-distribution and integrated small stations, which have been applied in multiple provinces[46] - The company has invested over RMB 2.3 billion in R&D over the past ten years, maintaining R&D investment above 10% of revenue annually[65] Market Expansion and Strategy - The company won the second prize for scientific and technological progress in Beijing and was recognized as one of the top 10 most competitive companies in China for optical transmission and network access equipment[35] - The company continued to lead in the operator market, winning major projects from China Telecom and China Mobile for OTN and SPN equipment procurement[37] - The company launched a hyper-converged solution integrating new technologies, which is expected to become a new growth point for the optical network business[37] - The company secured a procurement project for SD-WAN equipment with China Mobile, enhancing its offerings in the education sector[38] - The company actively expanded its market presence by winning multiple procurement projects for FTTR-B devices in various provinces, supporting digital transformation for small and medium enterprises[38] - The company actively expands its small and micro ICT market and operator digital DICT market, forming cooperation frameworks in multiple provinces and enhancing its competitive advantage through strategic partnerships with well-known manufacturers and service providers[39] - The company is expected to benefit from strong downstream demand and market growth driven by national policies supporting digital economy and network development[58] Operational Efficiency and Challenges - The company has acknowledged the presence of major risk factors in its operations, which may not be fully disclosed in the report[11] - The company is facing risks from rapid technological changes and intense market competition, which could lead to performance volatility if not managed effectively[103] - The company emphasizes the importance of retaining core technical talent to maintain its competitive edge in technology development[104] - The company has implemented measures to manage subsidiaries effectively, enhancing overall operational efficiency and risk resistance[148] Governance and Compliance - The company is committed to enhancing transparency and governance by adhering to legal requirements and improving communication with investors[102] - The company has conducted two shareholder meetings and six board meetings in the reporting period, ensuring compliance with governance regulations[109] - The company held 5 meetings of the supervisory board during the reporting period, ensuring comprehensive supervision over financial status, asset impairment, and internal controls[111] - The company has strengthened its internal control system, focusing on high-risk areas such as financial reporting and asset management[111] - The company has engaged an auditing firm to provide an internal control audit report, ensuring compliance with regulatory requirements[111] - The audit report confirmed that the financial statements fairly present the company's financial position and operating results for the year ended December 31, 2024[194] Environmental Responsibility - The company has invested 2.3247 million yuan in environmental protection during the reporting period[150] - The company has adhered to environmental regulations, ensuring that waste emissions meet national standards and have not faced any administrative penalties for environmental issues[152] - The company implemented carbon reduction measures, including the installation of monocrystalline silicon photovoltaic panels at the Ma'anshan production base, which can meet 60% of the company's electricity needs[154] - The company upgraded its production lines to achieve energy savings and cost reductions through green manufacturing practices[154] - The company encourages suppliers to adopt energy-saving and emission-reduction practices, ensuring environmental protection is integrated into every aspect of operations[155] Legal Matters - The company is facing a significant lawsuit regarding a contract dispute, with the plaintiff requesting to withdraw the case, which the court has approved[164][165] - The company received an administrative penalty from the China Securities Regulatory Commission on September 14, 2023, as detailed in the announcement on September 16, 2023[124] Shareholder Information - The total number of ordinary shareholders increased from 44,507 to 45,912 during the reporting period[182] - The top ten shareholders hold a combined 9.01% of shares each for four individuals, totaling 36.04% among them[184] - The company has a total of 10,432,000 restricted stocks, with 6,082,500 stocks released during the reporting period, leaving 4,349,500 stocks at year-end[179] - The company's equity attributable to owners is CNY 1.62 billion, which is slightly lower than CNY 1.63 billion when not considering restricted stock[181] - The company aims to establish a long-term incentive mechanism to attract and retain talent, aligning interests between shareholders and core team members[179]