QiaoYin(SZ:002973) Quan Jing Wang·2025-04-29 08:23Core Insights - The company, Qiaoyin Co., Ltd. (stock code: 002973), has demonstrated strong operational resilience and achieved record highs in several key performance indicators through a forward-looking digital transformation strategy amidst macroeconomic pressures and intensified industry competition [1] Financial Performance - The company reported a non-net profit attributable to shareholders of 309 million yuan, reflecting a year-on-year growth of 1.12% - Cash flow from operating activities significantly improved, with a year-on-year increase of 98.29% - Gross margin increased from 23.93% in 2020 to 26.86% in 2024, maintaining growth for five consecutive years - The "three expense rates" decreased by 0.88% to 13.23%, attributed to refined management and effective cost control driven by digitalization [1] - Total assets and equity attributable to shareholders increased compared to the beginning of the period, indicating strong reserves for future development [1] Operational Strategy - The company is accelerating its upgrade to a "smart city steward," expanding its urban service boundaries through digitalization - New business operations have been established in six key cities, including Chongqing and Ordos, with a backlog of 42 billion yuan in orders by the end of 2024, indicating robust sustainable development momentum [2] - In the property management sector, the company is leveraging digital technology to expand projects in Guangzhou and Zhaoqing, focusing on high-end commercial properties for precise services and efficient operations [2] Technological Development - R&D is a core support for the company's digital transformation, with a cumulative investment of 87.89 million yuan over the past two years - The establishment of Qiaoyin Smart City Research Institute and the launch of autonomous intelligent robots in key cities have enhanced operational efficiency and significantly reduced labor costs [3] - The company has received recognition for its technological capabilities, including awards for its intelligent robots and successful implementation of smart sanitation systems [3] Industry Outlook - The urban services industry is poised for growth with the advancement of the national "Artificial Intelligence +" initiative and the deepening of debt restructuring policies - The company aims to leverage its technological and scale advantages to implement a "two verticals and three horizontals" strategy, further solidifying its leading position in the industry [3] - The focus on intelligent, low-carbon, and cloud-connected urban services is expected to inject new vitality into urban development and provide a successful model for industry growth [3]