SNC Net(SH:605398) Zhong Guo Jing Ji Wang·2025-06-09 06:39Core Insights - The company reported a significant decline in both revenue and net profit for the year 2024, with revenue decreasing by 16.25% to 533 million yuan and net profit dropping by 64.09% to approximately 21.39 million yuan [1][2][3] - For the first quarter of 2025, the company continued to experience a decline in revenue by 9.44% to 121 million yuan and a net profit decrease of 41.32% to approximately 5.46 million yuan [1][2][3] Financial Performance Summary - 2024 Financial Results: - Revenue: 533 million yuan, down 16.25% from 636 million yuan in 2023 [2] - Net Profit: 21.39 million yuan, down 64.09% from 59.56 million yuan in 2023 [2] - Net Profit (excluding non-recurring items): 16.63 million yuan, down 70.15% from 55.72 million yuan in 2023 [2] - Operating Cash Flow: -68.28 million yuan, compared to 52.15 million yuan in the previous year [2] - Q1 2025 Financial Results: - Revenue: 121 million yuan, down 9.44% from 133 million yuan in Q1 2024 [3] - Net Profit: 5.46 million yuan, down 41.32% from 9.31 million yuan in Q1 2024 [3] - Net Profit (excluding non-recurring items): 2.42 million yuan, down 71.82% from 8.58 million yuan in Q1 2024 [3] - Operating Cash Flow: 18.78 million yuan, a significant improvement from -60.06 million yuan in the previous year [3] Capital Raising and Use of Proceeds - The company raised a total of 559 million yuan, with a net amount of 515 million yuan after deducting issuance costs [4] - The funds were allocated to various projects, including: - 194 million yuan for marketing service network construction and upgrades - 129 million yuan for technology and product R&D center construction - 78.1 million yuan for smart operation management platform upgrades - 34.4 million yuan for big data log analysis management platform upgrades - 45.3 million yuan for data governance and asset management platform upgrades - 34.8 million yuan for agile development and continuous delivery management platform upgrades [4] Dividend Distribution - In 2021, the company distributed a cash dividend of 0.25 yuan per share and a capital reserve increase of 0.4 shares per share, resulting in a total of approximately 14.87 million yuan in cash dividends and 23.8 million shares issued [4] - In 2022, the cash dividend was reduced to 0.15 yuan per share, with a similar capital reserve increase, totaling approximately 12.49 million yuan in cash dividends and 33.3 million shares issued [5] - For 2023, the cash dividend was further reduced to 0.12 yuan per share, with a capital reserve increase of 0.4 shares per share, totaling approximately 13.83 million yuan in cash dividends and 46.1 million shares issued [5]