Foxit Software(SH:688095)2025-04-28 13:30Financial Performance - The net profit attributable to shareholders for the year 2024 is CNY 26,958,258.28, with a distributable profit of CNY 208,445,046.09 as of December 31, 2024[6]. - The proposed cash dividend is CNY 3 per 10 shares, totaling CNY 26,910,211.50 (including tax), which represents 131.06% of the net profit attributable to shareholders[7]. - The total amount for cash dividends and share repurchases is CNY 35,332,585.83, exceeding the net profit attributable to shareholders[7]. - The company has implemented a share repurchase amounting to CNY 8,422,374.33, which does not include transaction fees[7]. - The company's operating revenue for 2024 reached ¥711,135,372.43, representing a year-on-year increase of 16.44% compared to ¥610,757,157.35 in 2023[23]. - The net profit attributable to shareholders was ¥26,958,258.28, a significant turnaround from a loss of ¥90,940,983.27 in the previous year[23]. - The company's cash flow from operating activities showed a net outflow of ¥64,342,061.88, worsening by 70.82% compared to the previous year's outflow of ¥37,665,633.66[23]. - The company achieved a basic earnings per share of ¥0.3028, compared to a loss of ¥1.0266 per share in 2023[24]. - The total assets of the company increased by 2.25% to ¥3,080,916,196.43 at the end of 2024, up from ¥3,013,043,106.88 in 2023[23]. - The company reported a net profit of ¥2,695.83 million for the reporting period, marking a return to profitability compared to the previous year's loss[26]. Operational Strategy - The company implemented a dual transformation strategy focusing on "subscription-first" and "channel-first," which has begun to show results in revenue growth[26]. - The company launched a new subscription plan for its PDF editor, enhancing user options and reducing procurement decision costs[52]. - The company launched the Foxit Intelligent Document Processing (IDP) platform in 2024, integrating large language models to enhance document processing efficiency for enterprises[66]. - The company focuses on PDF and OFD core product lines, developing applications compatible with the HarmonyOS ecosystem, including PDF readers and editors[68]. - The company employs a dual sales model, combining direct sales and channel sales, targeting various sectors including government, finance, and education[83]. Research and Development - Research and development expenses accounted for 35.36% of operating revenue, a decrease of 3.35 percentage points from 38.71% in 2023[24]. - The company achieved total R&D investment of ¥251,488,767.18, representing a 6.37% increase compared to the previous year[109]. - The company obtained 9 new patents and 42 software copyrights during the reporting period, bringing the total to 480 intellectual properties[108]. - The company is developing a core technology for document data extraction with an expected total investment of ¥2,800,000, achieving industry-leading accuracy in document structure recognition[111]. - The company has developed advanced document content parsing and knowledge indexing technology, capable of accurately extracting text, tables, charts, and forms from both native and scanned documents[105]. Market Performance - The Asia-Pacific market saw a revenue growth of 53.42% year-on-year, while the European (including Middle East) market grew by 24.02%[61]. - The company reported a net profit attributable to shareholders of 26.96 million yuan, reversing from a loss in the previous year, while the net profit excluding non-recurring items was a loss of 201.94 million yuan, an increase in loss of 12.52%[46]. - The Annual Recurring Revenue (ARR) from subscription business reached 411.30 million yuan, growing by 64.42% year-on-year, with a subscription renewal rate of approximately 90%[52]. - Subscription revenue amounted to 350.56 million yuan, accounting for 49.31% of total revenue, with a year-on-year growth rate of 62.33%[56]. - The company reported a significant increase in cash inflow from sales due to improved collection efforts and better expense control[152]. Governance and Compliance - The company has established a comprehensive internal governance structure, including a board of directors and various specialized committees to enhance operational efficiency and protect minority shareholders' interests[184]. - The company has no significant differences in governance compared to regulatory requirements, ensuring compliance with laws and regulations[184]. - The company is committed to maintaining a transparent governance structure, with all shareholder resolutions disclosed on the Shanghai Stock Exchange website[186]. - The company has proposed amendments to its articles of association and various internal regulations to improve governance and operational management[185]. - The company is actively pursuing market expansion strategies, including potential acquisitions to enhance its competitive position[185]. Financial Management - The company has approved the use of up to RMB 1.5 billion of idle self-owned funds for cash management, ensuring that it does not affect the normal operation of its main business[169]. - The company also approved the use of up to RMB 65 million of temporarily idle raised funds for cash management, focusing on high-security and liquid investment products[169]. - The company reported a total of RMB 3,915,468,097.22 in other non-current financial assets at the end of the period[171]. - The company’s cash management products are not allowed to be used for pledging or for securities investment purposes, ensuring a focus on liquidity and safety[169]. - The company has initiated plans for financial derivatives hedging to manage risks associated with market fluctuations[185].