Mei Ri Jing Ji Xin Wen·2025-12-11 12:21Core Viewpoint - The sudden passing of Chen Hongyin, a senior vice president of Neusoft Group, is a significant event for the company, which has been facing challenges despite revenue growth and ongoing operational activities [1][2]. Group 1: Company Overview - Neusoft Group, known as "China's first software stock," is a leading global information technology, products, and solutions company, established in 1991 and recognized as the first listed software company in China [6]. - The company has been involved in significant projects, including the development and maintenance of the "Yima Tong" system during the pandemic [6]. Group 2: Leadership and Contributions - Chen Hongyin joined Neusoft in 1996 and held various leadership roles, contributing significantly to the company's development over nearly 30 years [2][4]. - In 2024, Chen's annual salary was reported at 1.942 million CNY [4]. Group 3: Financial Performance - Neusoft Group has experienced continuous revenue growth since 2022, with total revenue reaching 11.56 billion CNY in 2024, a year-on-year increase of 9.64% [8][9]. - Despite revenue growth, the company has faced ongoing non-recurring losses, with a total non-recurring net loss exceeding 700 million CNY from 2022 to 2024, and a loss of 43.77 million CNY in the first three quarters of this year [7][9]. - The company's operating profit for 2025 was reported at 93.70 million CNY, but the net profit attributable to shareholders decreased by 66.47% year-on-year [8]. Group 4: Research and Development - In 2024, Neusoft's R&D investment decreased by 13.50% to 921 million CNY, raising questions from the Shanghai Stock Exchange regarding the inconsistency between R&D spending and revenue growth [9]. - The company attributed the decline in R&D spending to factors such as asset and technology reuse, focused resource allocation, and increased efficiency, indicating a shift towards market and operational expenditures [9]. Group 5: Market Reaction - Following the announcement of Chen Hongyin's passing, Neusoft's stock price fell by 1.7%, with a year-to-date decline of over 7%, contrasting with the Shanghai Composite Index's rise from 3,300 to over 3,800 points [9].