Summary of Key Points Core Viewpoint - The company is experiencing an increase in average contract and acceptance cycles, particularly in the fourth quarter of 2024, which is attributed to a concentration of project acceptance and revenue recognition during this period [2]. Group 1: Project Cycles - In Q4 2024, the average acceptance cycle was 123.61 days, an increase of 15.86 days compared to the average of 107.75 days in the first three quarters of 2024 [2]. - The average contract cycle in Q4 2024 was 173.76 days, up from 160.29 days in the first three quarters, indicating a similar trend to the acceptance cycle [2]. - The first quarter of 2025 is expected to have higher average contract and acceptance cycles than 2024, influenced by longer project durations [2]. Group 2: Employee Compensation - Employee compensation in 2024 increased by 1.8408 million, primarily due to an average increase of 5.33 employees and a 4.3% salary adjustment for sales personnel to maintain competitiveness [3]. - Sales personnel bonuses decreased by 4.01% compared to the previous year, attributed to project bidding delays and lower-than-expected contract payments [3]. - The increase in employee compensation also led to higher social insurance and provident fund contributions, as these are adjusted based on monthly salary [3]. Group 3: Sales Expenses - Sales expenses related to employee compensation grew by 11.85% in 2024 compared to 2023, driven by an increase in average sales personnel and adjustments in social insurance and provident fund bases [4]. - The company's performance decline in 2024 resulted in lower achievement of sales personnel performance indicators, leading to reduced bonuses [4]. - The company plans to enhance cost control measures to improve overall efficiency and effectiveness [4]. Group 4: Verification Procedures - Verification procedures included testing key control points and assessing the effectiveness of internal controls related to revenue recognition and project cycles [2][4]. - The company’s collaboration with agents and the rationale behind agent fees were also examined to ensure commercial viability [5]. - No direct financial transactions were found between the company and agent shareholders, confirming the legitimacy of the agent fee structure [5].
光格科技: 容诚会计师事务所(特殊普通合伙)关于苏州光格科技股份有限公司2024年年度报告的信息披露监管问询函相关问题的核查意见