TCT(SH:688015) Shang Hai Zheng Quan Bao·2025-04-26 02:23Core Viewpoint - The annual report of the company highlights its financial performance, business operations, and future development plans, emphasizing its role in the urban rail transit signal system industry and its commitment to innovation and customer service. Company Overview - The company specializes in urban rail transit signal systems, focusing on research and development, key equipment manufacturing, system integration, and maintenance services, leveraging its proprietary CBTC technology [6][8]. - The company has delivered signal system projects covering 2,841 kilometers across 32 cities in China, including major cities like Beijing and Shenzhen, and has successfully delivered 10 high-quality rail transit lines in 2024 [8]. Financial Performance - For the fiscal year 2024, the company reported a net profit attributable to shareholders of 83,572,185.56 yuan, with a proposed cash dividend of 2.30 yuan per 10 shares, resulting in a total cash dividend distribution of 43,396,570.66 yuan [4][29]. - The company's revenue for 2024 was 218,583.31 million yuan, reflecting a growth of 9.59% compared to 2023, while the net profit decreased by 6.09% year-on-year [26]. Industry Situation - The urban rail transit industry in China is experiencing rapid development, with 56 cities having operational projects totaling over 11,590 kilometers, making it the country with the longest urban rail transit operation mileage in the world [12][14]. - The market for signal system projects is expanding, with 52 projects announced in 2024, representing a growth in both the number of projects and the total bidding amount, which exceeded 130 billion yuan [13][19]. - The industry is expected to continue evolving towards diversification, intelligence, and sustainability, driven by technological advancements and increasing demand for efficient urban transportation solutions [12][19]. Technological Advancements - The company is focusing on smart technologies to enhance operational safety and efficiency, integrating AI, big data, and advanced control technologies into its systems [21]. - Innovations such as intelligent dynamic scheduling systems and smart maintenance frameworks are being developed to improve service quality and operational efficiency [21]. Future Development Trends - The urban rail transit sector is projected to see significant growth in new line construction, line upgrades, and maintenance services, with a forecasted total investment in signal systems reaching 116 billion yuan by 2025 [13][16]. - The company aims to maintain its competitive edge by continuously innovating and adapting to market demands, positioning itself as a leader in the urban rail transit signal system industry [19].