Core Viewpoint - The company reported a revenue of 36.22 billion yuan for 2024, representing a year-on-year growth of 9.2%, with core circular business revenue reaching 30.79 billion yuan, up 15.5%, accounting for 85% of total revenue [1][2] Financial Performance - The company achieved a core net profit of 2.23 billion yuan in 2024, a decrease of 4.8% year-on-year, while operating cash flow was 1.92 billion yuan and cash equivalents totaled 13.43 billion yuan [1] - The net profit for the period was 1.26 billion yuan, down 38.3% year-on-year, attributed to a decline in developer business and accounts receivable [2] Business Operations - The proportion of revenue from developer business and accounts receivable both decreased in 2024, with related transactions accounting for 9.5% of total revenue, down 4 percentage points [2] - The company recorded a credit impairment loss of 610 million yuan due to risks associated with accounts receivable amid industry fluctuations [2] Innovation and Market Strategy - The company introduced an elastic pricing model called "Vanke Property Smart Choice," allowing property companies to set service baselines and customers to choose services based on needs, with plans to expand this model industry-wide by mid-2025 [2][3] - Over the past three months, there has been significant interest in the elastic pricing product, with 64 cities and 160 clients engaged, and contract amounts reaching 620 million yuan [3] Dividend Policy - The company proposed a dividend policy consistent with its mid-term strategy, planning to distribute 100% of core net profit as dividends, amounting to 1.9 yuan per share, resulting in a dividend yield of 9.3% based on the closing price at the end of 2024 [3]
万物云：应收账款规模及关联方业务占比双降，弹性定价模式上半年将向全行业开源