CENTURY(SZ:300078)2025-04-29 12:45Financial Performance - The company reported a significant operating loss due to a decline in overall revenue, primarily impacted by market competition, business model adjustments, and a decrease in order volume [4]. - The company's operating revenue for 2024 was ¥690,765,562.41, a decrease of 31.33% compared to ¥1,005,929,309.42 in 2023 [24]. - The net profit attributable to shareholders for 2024 was -¥501,509,765.24, showing an improvement of 42.64% from -¥874,349,214.78 in 2023 [24]. - The net cash flow from operating activities was -¥35,682,984.51, a decline of 402.72% compared to ¥11,787,364.46 in 2023 [24]. - The total assets at the end of 2024 were ¥2,189,795,268.31, down 15.53% from ¥2,592,337,624.35 at the end of 2023 [24]. - The company reported a basic earnings per share of -¥0.53 for 2024, improving by 50.00% from -¥1.06 in 2023 [24]. - The company's revenue from core business activities, after deducting other income, was ¥635,589,837.98 in 2024, down from ¥792,024,301.02 in 2023 [24]. - The company reported a significant reduction in investment cash outflow by 48.50% to ¥612,186,484.88 from ¥1,188,616,583.06 [89]. - The company reported a total revenue of 16,946.37 million CNY, with a net profit loss of 33,558.94 million CNY for its subsidiary, Yihui Technology [117]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the fiscal year 2024, representing a growth of 20% year-over-year [196]. Strategic Initiatives - The company plans to not distribute cash dividends, issue bonus shares, or increase capital using reserves [7]. - The company launched the "思创物联（苍南）" production base, marking a strategic transformation and upgrade in its IoT application business [32]. - The company is transitioning from a manufacturer to a digital service provider, addressing industry challenges with comprehensive solutions [35]. - The company is actively developing a group hospital business collaboration and data sharing cloud platform in line with national healthcare reform initiatives, aiming to improve resource utilization and healthcare service quality [40]. - The company is investing in the development of personal digital health records, utilizing IoT, AI, and cloud computing technologies to enable dynamic aggregation and sharing of personal health data [41]. - The company is focusing on expanding its market presence and developing new technologies to enhance its product offerings [165]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million CNY earmarked for potential mergers and acquisitions [196]. - The company plans to increase its marketing budget by 30% to support the launch of new products and enhance brand visibility [197]. Market and Product Development - The company focuses on providing integrated solutions in sectors such as smart retail, supply chain management, and smart cities, leveraging RFID technology [32]. - The company is actively developing a smart retail management system and a smart supply chain platform to achieve full digitalization from inventory management to logistics [123]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024 [199]. - New product launches are expected to contribute an additional 300 million RMB in revenue in 2024, focusing on advanced medical technologies [199]. - The company is investing 200 million RMB in R&D for new technologies aimed at improving healthcare solutions over the next two years [199]. Governance and Management - The company has established a fair and effective performance evaluation and incentive mechanism for senior management, combining basic salary with annual performance assessments [148]. - The company has maintained independence from its largest shareholder, with no interference in decision-making or operational activities reported during the period [154]. - The company has implemented a robust internal control system to manage risks and ensure the normal operation of business activities [151]. - The company has established a comprehensive internal audit system, with an independent internal audit department reporting directly to the audit committee [151]. - The company has seen a turnover in key management positions, which may impact its operational strategy moving forward [168]. - The company appointed Wu Qiong as the new General Manager on May 28, 2024, following the resignation of Hua Songyuan due to work adjustments [167]. Challenges and Risks - The company continues to face challenges in its smart healthcare segment, with slow project delivery and payment collection contributing to operational losses [4]. - The company faces intensified competition in the IoT and smart healthcare sectors, requiring improved core competitiveness and cost structure optimization [128]. - The company is facing litigation risks from investors, with 18 lawsuits currently filed against it [136]. - The company is monitoring international trade policies and exchange rate fluctuations to manage potential risks in its business operations [133]. Research and Development - The company has received 14 invention patents, 14 utility model patents, and 23 software copyrights during the reporting period, showcasing its commitment to innovation [62]. - The company is investing heavily in R&D, with a budget allocation of 200 million CNY for new technologies and product development [196]. - Research and development expenditures have increased by 20%, reflecting the company's commitment to innovation [165]. - The company has initiated a cost-reduction strategy projected to save 100 million RMB annually, enhancing overall profitability [199]. International Operations - The company exports its products to over 70 countries and regions, establishing long-term stable partnerships with more than 300 clients and agents globally [50]. - International sales accounted for 52.02% of total revenue, down 24.20% from the previous year [72]. - The company is planning to expand its overseas market presence through localized solutions for smart loss prevention and digital retail technologies [123]. Financial Management - The company has engaged in foreign exchange hedging to mitigate risks associated with currency fluctuations, aiming to reduce the impact on operational performance [102]. - The company has implemented risk control measures for foreign exchange hedging, including monitoring and aligning hedging contracts with expected cash flows [103]. - The company has not engaged in speculative derivative investments during the reporting period [104]. - The company has established a unified data management platform for IoT data collection and analysis, achieving a 60% completion rate in user data processing [87].