DAS(SZ:002421) Jing Ji Guan Cha Wang·2025-11-04 07:23Core Viewpoint - The recent investigation of Liu Pang, the actual controller and chairman of Das Intelligent (002421.SZ), has raised concerns about the company's future, although it has not yet significantly impacted its daily operations [3][4]. Company Overview - Das Intelligent is an IoT service provider that has been actively investing in Anhui, establishing various projects and partnerships in the region [5]. - The company has developed a smart hospital and a regional healthcare big data application platform, serving over 20 million residents [5]. - Das Intelligent has been involved in significant projects, including smart upgrades for various well-known enterprises and government buildings [5][7]. Recent Developments - Liu Pang has been placed under investigation, which has led to a temporary drop in the company's stock price [3][4]. - The company announced that it is monitoring the situation but has not experienced any major adverse effects on its operations [4]. Financial Performance - Das Intelligent reported a revenue decline of 17.28% in 2024, with revenue of 3.171 billion yuan compared to 3.833 billion yuan in the previous year [8]. - The net profit for 2024 was 25.88 million yuan, a significant drop of 77.45% from 115 million yuan in the previous year [8]. - In the first half of 2025, the company continued to face challenges, with a net loss of 88.76 million yuan and revenue of 990 million yuan, down 26.8% year-on-year [8]. Strategic Adjustments - In response to declining performance, Das Intelligent has opted to "shrink its balance sheet" by terminating certain projects and disposing of related assets, which resulted in a cash inflow of 213 million yuan and a reduction in liabilities [9]. - The company's asset-liability ratio improved to 59.88% by the end of the third quarter of 2025, down 3.16 percentage points from the beginning of the year [9].