中科软2024年财报：净利润暴跌45.76%，保险IT业务拖累整体表现

Core Insights - The company reported a total revenue of 6.671 billion yuan for 2024, reflecting a year-on-year growth of 2.59%, but the net profit attributable to shareholders significantly declined by 45.76% to 355 million yuan [1] - The decline in the insurance IT business was the primary factor affecting overall performance, with revenue from this segment dropping by 15.31% to 3.047 billion yuan [3] - Despite growth in non-insurance sectors, the overall gross margin decreased, indicating challenges in maintaining profitability [5][7] Revenue Performance - Total revenue for 2024 was 6.671 billion yuan, a 2.59% increase from the previous year [1] - Insurance IT revenue fell to 3.047 billion yuan, a decrease of 15.31% [3] - Non-insurance financial IT revenue grew by 32.43% to 685 million yuan, while government IT revenue increased by 20.38% to 1.286 billion yuan, and healthcare IT revenue rose by 37.31% to 408 million yuan [5] Profitability Analysis - The gross margin for the insurance IT business dropped from 35.69% to 27.47%, contributing to a decline in the overall gross margin of the company, which fell by 5.65 percentage points to 25.80% [3] - Non-insurance financial IT business gross margin decreased by 17.62 percentage points to 23.73%, while healthcare IT gross margin fell by 13.50 percentage points to 28.82% [5] Technological Developments - The company made significant progress in the application of AIGC technology across various sectors, including insurance, government, and healthcare [6] - Despite advancements in AIGC applications, research and development expenditure decreased by 3.72% to 908 million yuan, representing 13.60% of total revenue [6] Future Outlook - The company faces challenges due to the cyclical pressures in the industry and adjustments in client budgets, necessitating a need to optimize business structure and enhance profitability in non-insurance sectors [7] - There is a critical need for the company to increase its focus on technological innovation to maintain a competitive edge in the market [7]