CAPOL(SZ:002949) Xin Lang Cai Jing·2025-05-02 00:44Core Viewpoint - Huayang International's sales gross margin continues to improve in 2024, with a 15.4% revenue increase in Q1 2025, marking a return to profitability [1][4] Financial Performance - In 2024, revenue decreased by 22.6% to 1.17 billion yuan, with a net profit of 130 million yuan, down 22.3% [3] - The gross margin for 2024 was 35.1%, an increase of 2.88 percentage points, while the net profit margin was 10.7%, up 0.03 percentage points [3] - Q1 2025 revenue was 260 million yuan, a 15.4% increase, but net profit decreased by 20.2% to 2 million yuan [4] Operational Metrics - In 2024, the operating cash flow was 170 million yuan, down from 290 million yuan in the same period of 2023 [3] - The accounts receivable decreased by 11.4% to 390 million yuan in 2024 [3] - Q1 2025 operating cash flow was -130 million yuan, compared to -90 million yuan in Q1 2024 [4] Strategic Initiatives - The company is continuously upgrading and optimizing its BIM design platform, enhancing its capabilities across various engineering disciplines [5] - Huayang International is expanding its market presence in regions such as South China, Central China, East China, Southwest, and North China, while also pursuing international business along the Belt and Road Initiative [5] - The company is actively developing a digital cultural platform, focusing on micro-drama content, AI applications, and cultural exports [5] Dividend Policy - The annual profit distribution plan includes a dividend of 0.35 yuan per share, with a payout ratio of 54.76% for the current year [5]