万达信息2024年年报：亏损收窄但现金流和债务状况堪忧

Core Insights - The company reported a total revenue of 2.011 billion yuan in 2024, a year-on-year decrease of 18.19% [1] - The net profit attributable to shareholders was -686 million yuan, an increase of 23.70% year-on-year, indicating a narrowing of losses [1] - The company is focusing on three core areas: smart healthcare, smart government, and smart finance, aiming to improve operational efficiency and cost management [6] Financial Performance - In Q4, total revenue was 690 million yuan, a year-on-year increase of 24.7% [2] - The net profit attributable to shareholders in Q4 was -127 million yuan, an increase of 77.41% year-on-year [2] - The gross margin was 19.1%, a decrease of 3.75% year-on-year, while the net margin was -33.89%, an increase of 7.3% year-on-year [8] Cash Flow and Debt Situation - The cash flow situation is concerning, with cash and cash equivalents to current liabilities at only 41.5% [4] - The interest-bearing debt ratio has reached 39.37%, indicating significant risk in cash flow and debt management [4] - The net cash flow from operating activities was -37 million yuan, a decrease of 75.50% year-on-year [8] Revenue Composition - Software development accounted for 970 million yuan, 48.23% of total revenue, with a gross margin of 20.61% [9] - Operations and maintenance generated 627 million yuan, 31.16% of total revenue, with a gross margin of 23.59% [9] - Smart healthcare generated 852 million yuan, 42.34% of total revenue, with a gross margin of 25.45% [9] Future Outlook - The company plans to continue its focus on smart healthcare, smart government, and smart finance, while implementing cost reduction and efficiency measures [6] - There is an emphasis on enhancing marketing capabilities and compliance to ensure stable growth [6]