东方通业绩出炉：营收增长加速，亏损持续收窄，国产信创中间件龙头优势显现

Core Viewpoint - 东方通 has demonstrated resilience and growth in a challenging market environment, achieving significant revenue increases and improving its competitive position through strategic initiatives and technological integration, particularly in artificial intelligence [1][2][3] Financial Performance - In 2024, 东方通 reported revenue of 758 million yuan, a year-on-year increase of 36.09%, while in Q1 2025, revenue reached 134 million yuan, reflecting a substantial growth of 77.41% year-on-year [2][3] - Despite a net loss of 576 million yuan in 2024, the loss narrowed by 14.45% compared to 2023, primarily due to goodwill impairment provisions totaling 408 million yuan related to its smart emergency and information security businesses [2][3] - In Q1 2025, the net loss further decreased by 58.12%, indicating improved financial health [2] Business Segments - The middleware segment performed strongly in 2024, generating 363 million yuan in revenue, up 31.08% year-on-year, with new products achieving over 100% growth [2][3] - The network information security business also showed growth, with revenue of 297 million yuan, a 28.54% increase year-on-year [3] - The digital transformation business experienced over 100% growth after strategic adjustments [3] Market Position and Industry Outlook - 东方通 has maintained its leadership in the domestic middleware market for 16 consecutive years, with a comprehensive product system that competes effectively with international brands like IBM and Oracle [4] - The Chinese middleware market is projected to reach 12.8 billion yuan by 2026, driven by increasing demand for products compatible with artificial intelligence and big data [4] - The company is well-positioned to capitalize on the growth opportunities in the domestic market, supported by favorable national policies and a growing customer base [4] Challenges and Responses - The company is currently facing a risk warning for its stock due to an ongoing investigation by regulatory authorities, which has affected its audit process [5] - In response, 东方通 is cooperating with the investigation and has initiated internal control reviews, while ensuring stable operations and communication with clients and partners [5] - The management team is committed to addressing challenges proactively and enhancing the company's governance and operational quality [5]