Core Viewpoint - CITIC Limited reported a strong performance for the fiscal year 2024, with a revenue of 752.87 billion RMB, a year-on-year increase of 10.6%, and a net profit attributable to ordinary shareholders of 58.20 billion RMB, up 1.1% [1] Financial Performance - The financial services segment achieved a net profit of 52.65 billion RMB, reflecting a year-on-year growth of 4.3% [2] - The company proposed a final dividend of 0.36 RMB per share, leading to a total annual dividend of 0.55 RMB per share, with a payout ratio of 27.5%, an increase of 1.5 percentage points from the previous year [1] Strategic Initiatives - CITIC aims to enhance its competitive edge in comprehensive financial services through five key strategies: deep collaboration, international expansion, capital market opportunities, retail customer focus, and operational efficiency [2] - The company launched the CITIC Equity Investment Alliance ecosystem, serving over 11,000 national-level specialized enterprises, achieving a coverage rate of 96% [3] Risk Management - CITIC has actively managed risks in real estate and local government debt, with a total of nearly 82 billion RMB in hazardous assets addressed since 2022, revitalizing over 70 risk projects [4] - The company reported a decrease in non-performing loan ratios in real estate and local government debt-related businesses [4] Market Performance - CITIC's market capitalization increased by 27.5% in 2024, outperforming the Hang Seng Index and the Hang Seng Composite Industry Index [5] - The company has distributed over 120 billion HKD in dividends over the past decade, with an average annual dividend rate of 25.3% and a three-year dividend yield of approximately 7% [5] Future Outlook - The company is focused on enhancing its market communication and transparency to help investors better understand its investment value [6] - CITIC plans to invest 25.2 billion RMB in technology in 2024, marking an 11% increase, with a technology investment intensity of 3.34% [6] - The management emphasizes the importance of innovation and adapting to new industrial changes as a critical focus for future growth [6]

Core Viewpoint - China Yongda Automobile Services Holdings Limited reported a decline in revenue and profit for the fiscal year ending December 31, 2024, amid a challenging automotive market, but maintained a strong focus on shareholder returns through dividends and share buybacks [1][12]. Financial Performance - The company recorded revenue of RMB 634.20 billion, a decrease of 14.6% from RMB 742.95 billion in the same period last year [1] - Gross profit was RMB 52.73 billion, down 21.2% year-on-year [1] - Net profit attributable to the company’s owners was RMB 2.01 billion, with basic earnings per share at RMB 0.11 [1] - The total dividend per share for the year was RMB 0.128, representing 120% of net profit attributable to owners [1] Operational Metrics - Inventory balance stood at RMB 41.50 billion, a decrease of 4.9% from the end of 2023, with inventory turnover days at 25.8 days [2] - Cash generated from operating activities was RMB 15.18 billion, and the net debt ratio was 10.2%, down 2.0 percentage points from the end of 2023 [2] New Car Sales - New car sales reached 171,236 units, generating revenue of RMB 494.55 billion [3] - The gross margin for new car sales in the second half of 2024 improved by 0.19 percentage points to 1.83% [3] - New car turnover days were maintained at a healthy level of 25.2 days [3] New Energy Vehicle (NEV) Business - The company sold 18,485 units of independent NEV brands, with a significant portion coming from direct sales [4] - The average selling price of new cars increased from RMB 24.3 million in 2023 to RMB 28.3 million in 2024 [4] - NEV sales and after-sales services experienced rapid growth, supported by strong demand for high-value models [4] After-Sales Services - After-sales revenue for independent NEV brands reached RMB 31.01 million, a year-on-year increase of 95.2% [5] - The average revenue per vehicle for after-sales services was RMB 3,114, up 27.1% year-on-year [5] - The number of after-sales customers for independent NEV brands grew by 134.3% to 57,400 [5] Used Car Business - The used car transaction volume was 74,969 units, a decline of 19.4% year-on-year [8] - The company maintained a healthy inventory turnover and a stable new-to-used car ratio of 43.8% [8] - The average revenue per used car sold was RMB 104,000, with a gross margin of 5.59% [8] Network Changes - The company optimized its network by closing 18 underperforming stores and opening 12 new outlets in 2024 [10] - The focus is on enhancing brand representation and operational efficiency through strategic adjustments [10] Future Outlook - The company aims for NEVs to account for 50% of total new car sales by 2026, while luxury vehicles are projected to represent 40% [11] - Plans include expanding into the battery recycling industry and developing smart robotics for future operations [11][12] - The company remains committed to shareholder returns and sustainable growth amid market challenges [12][13]

截至2024年12月31日，公司代建项目已布局中国30个省、直辖市及自治区的130座主要城市;合约项目总 建筑面积1.26亿平方米，较去年同期增长5.0%。在建面积5396万平方米，较去年同期增长2.9%。 在全国化的布局下，主要经济区域(含：环渤海及京津冀城市群、长三角经济圈、珠三角经济圈、成渝 城市群)持续保持较大比重：合约项目预估总可售货值达7201亿元，规模占整体可售货值的77.3%，与去 年同期基本持平。此外，一二线城市建筑面积达5530万平方米，占总建筑面积的44.0%，较上年同期提 升7.6%。公司通过差异化拓展策略，实现了订单结构的逐年优化。 新拓规模持续保持行业第一，2024年新拓项目的合约总建筑面积达3650万平方米，较去年同期增长约 3.4%;新拓项目代建费预估93.2亿元，虽较去年同期下降约10.1%，但整体订单质量较高，项目结构趋好; 新拓项目价格由2024年上半年每平方米240元，逐步回稳至2024年全年每平方米255元;一二线城市占比 进一步提升至58%，较去年同期上升6个百分点。 智通财经APP讯，绿城管理控股(09979)发布截至2024年12月31日止年度的全年业绩，收入3 ...

Core Viewpoint - The company has achieved significant growth in revenue and profit, driven by its quality improvement strategy and expansion into AI applications, indicating a strong market position and future potential [1][2][10]. Financial Performance - The company reported a revenue of 2.4 billion HKD for 2024, a year-on-year increase of 20% [1]. - Adjusted net profit surged nearly fourfold to 180 million HKD, with an adjusted net profit margin rising by 6 percentage points to 7.5% [1]. - Gross profit increased to 1.05 billion HKD, reflecting a year-on-year growth of 23.7% and a three-year compound annual growth rate (CAGR) of 33.3% [1][3]. Business Strategy - The company has successfully expanded its service boundaries into emerging fields such as live streaming, micro-short dramas, music, e-commerce, and online novels through enhanced digital copyright protection technology [1][3]. - The revenue structure is being optimized with a focus on AI applications, which is expected to enhance future growth prospects [1][2]. Subscription and Value-Added Services - Subscription service revenue reached 1.1 billion HKD, growing by 27% and accounting for 46% of total revenue [3][4]. - Value-added services revenue increased by 15% to 1.3 billion HKD, making up 54% of total revenue, showcasing strong growth momentum [4]. Technological Advancements - The company is advancing its proprietary technologies, such as VDNA, which enhance data accuracy and traceability, solidifying its competitive edge [4][5]. - The launch of the MAX digital asset trading platform integrates video rights confirmation, blockchain, and Web3 technologies, creating a comprehensive service ecosystem for creators [4]. AI Integration and Market Position - The company is positioning itself to lead in the new paradigm of digital content asset circulation, leveraging AI to create new revenue-sharing models and reduce legal risks for tech companies [6][7]. - The recent policy developments in AI content commercialization are expected to benefit the company, enhancing its market share and profitability [8][9]. Future Outlook - The company is anticipated to continue its growth trajectory by capitalizing on its technological advantages and expanding its client base in both the US and China [10].

Group 1 - Company announced a share repurchase plan totaling up to approximately HKD 1.8 billion, which includes an automatic share repurchase plan of up to HKD 900 million [1] - The repurchase will occur on the Hong Kong Stock Exchange and will also include a plan under the U.S. Securities Exchange Act of 1934 to repurchase American Depositary Shares for up to approximately USD 115 million [1] - The Hong Kong repurchase agreement will be executed through an independent broker, with specific parameters set for the repurchase price and volume limits, valid from March 31, 2025, to April 1, 2026 [1] Group 2 - An independent 10b5-1 repurchase plan has been established for repurchasing American Depositary Shares on the New York Stock Exchange, with a maximum amount of approximately USD 115 million [2] - The 10b5-1 repurchase plan will be effective from March 28, 2025, to April 1, 2026, unless terminated according to its terms [2]

智通财经APP讯，酷派集团(02369)发布截至2024年12月31日止年度业绩，集团收入4.99亿港元，同比增 长62.46%;股东应占亏损2.52亿港元，同比扩大14.13%;每股亏损1.54港仙。 2024年，集团与运营商(中国移动)合作推出了酷派Y70Lite与大观3系列手机，其中大观3系列支持裸眼 3D技术，集团与中国移动共同创立了裸眼3D 产业联盟与终端智能体联盟，推动裸眼3D技术的发展及其 在市场中的应用。此外，集团还在电商平台上推出了Cool50和Cool60等全新智能手机。在功能机领域， 集团凭借多年的技术积累和市场经验，继续保持行业领先地位，为消费者提供高性价比的优质产品。 海外市场方面，2024年，集团在海外市场快速扩张，整体经营业绩呈现强劲增长态势。集团聚焦全球高 增长市场，产品覆盖中低价格段，以自有品牌为基础，进一步开拓定制需求市场，渠道以线下代理商为 核心，同步发展跨境电商分销客户。截至2024年12月31日，集团成功进入中东非、东欧、亚洲及拉美等 区域的20多个国家或区域，同时开拓SHEIN、TIKTOK、速卖通、TEMU、Lazada等十多个跨境电商平 台的分销客户，并保持稳定 ...

走过最艰难的时刻后，碧桂园服务终于要上岸了。 3月27日，碧桂园服务（6098.HK）发布2024年度业绩报告。财报显示，2024年全年，碧桂园服务实现总收入439.9亿元，同比增长3.2%；利润稳中有升，核 心业务的合计经调整毛利增长6.4%至92亿元，归母净利润同比增长518.7%至18亿元。 在此背景下，碧桂园服务2024年全年派息9.9亿元，超过2024年归母净利润的55%，积极与股东分享经营成果，同时也展现出公司财务状况的稳健。 与此同时，2025年，碧桂园服务计划使用不少于5 亿元用于境外回购或者由境内子公司通过信托来购买公司股票，这也有利于进一步提振市场信心。 碧桂园服务如今现金流保持健康稳定，去年经营活动所得现金净额约为38.7亿元，截至去年底，银行存款和现金总额（包括受限制银行存款及定期存款）达 181.8亿元。 此外，碧桂园服务的物业管理规模实现稳步提升，截至去年底，除"三供一业"业务外，其收费管理面积达到约 10.4亿平方米。 据悉，通过整合营销促预缴、"一户一档"精准服务、归仓战役等精细化运营措施，碧桂园服务收费率持续提升。 从具体收入表现来看，物业管理服务收入依然是碧桂园服务的基本盘 ...

Core Viewpoint - Fosun International (00656) issued a profit warning, projecting a loss of approximately RMB 4.2 billion to RMB 4.4 billion for the fiscal year 2024, primarily due to adjustments in the book value of its investment in Cainiao Smart Logistics Network Co., Ltd. [1] Group 1: Financial Performance - The expected loss for 2024 is mainly attributed to the adjustment of the book value of the Cainiao project, with a projected profit of RMB 700 million to RMB 900 million when excluding this factor [1] - The book value of Fosun's 564.18 million shares in Cainiao was approximately USD 1.05 billion at the end of 2023 [1] - Alibaba Group plans to repurchase shares from minority shareholders at USD 0.62 per share, significantly lower than the book value, leading to a potential one-time non-cash loss of approximately RMB 5.1 billion for Fosun in 2024 [1] Group 2: Investment Insights - Analysts noted that the adjustment of the fair value of investment equity under Hong Kong accounting standards is a non-cash accounting change and does not directly impact the company's operational performance or cash flow [2] - Fosun has invested approximately RMB 1.5 billion in the Cainiao project and has recouped about RMB 4.4 billion, achieving an internal rate of return (IRR) of approximately 34% [2] Group 3: Operational Resilience - Fosun's subsidiaries have shown strong growth and operational resilience, with Fosun Pharma reporting revenue of RMB 41.067 billion and a net profit of RMB 2.770 billion, a year-on-year increase of 16.08% [3] - Other subsidiaries, such as Fuhong Hanlin and Yuyuan, also reported significant revenue and profit growth, indicating a healthy overall operational performance [3] - Fosun International is expected to release its full-year 2024 performance report, which will provide further insights into the operational metrics of its core industries [3]

Core Viewpoint - CITIC Limited reported a revenue of RMB 752.87 billion for 2024, a year-on-year increase of 10.6%, and a net profit attributable to ordinary shareholders of RMB 58.20 billion, up 1.1% [1] Financial Performance - The board proposed a final dividend of RMB 0.36 per share, leading to a total annual dividend of RMB 0.55 per share, with a payout ratio of 27.5%, an increase of 1.5 percentage points from the previous year [1] - CITIC's market value increased by 27.5% in 2024, outperforming the Hang Seng Index (17.7%) and the Hang Seng Composite Industry Index (5.52%) [1] - Over the past ten years, CITIC has distributed over HKD 120 billion in dividends, with an average annual dividend rate of 25.3% and a dividend yield of approximately 7% over the last three years [1] Strategic Initiatives - The company is focusing on two major projects: the "Strong Core" initiative for financial enhancement and the "Star Chain" initiative for industrial transformation [2] - The "Strong Core" initiative aims to improve financial services, with over 96% coverage of the first five batches of national specialized and innovative enterprises through services like "equity, loan, debt, and guarantee" [2] - The "Star Chain" initiative emphasizes high-end, intelligent, and green development, with the establishment of the CITIC Equity Investment Alliance managing over RMB 300 billion in funds and directly investing in over 1,000 technology innovation enterprises [2] Subsidiary Performance - In 2024, CITIC's industrial subsidiaries achieved a net profit of RMB 16.35 billion attributable to ordinary shareholders [3] - CITIC Agriculture is advancing projects like the private placement of Longping High-Tech to enhance competitive advantages [3] - CITIC's subsidiaries are contributing to major national infrastructure projects, such as the Shenzhen-Zhongshan Corridor and Changtai Yangtze River Bridge [3]

于2024年，集团的体育知识付费平台录得收益比去年增加13.7%。在2024年欧洲杯期间，疯狂红单运用 AI Agent技术，依托大语言模型，结合集团多年累积的丰富数据资源，推出了国内首个「体育+彩票」 垂直领域大模型AI助手「如意」。同时，集团投入大量资源开展研发工作，研发团队以技术创新为驱 动，成功於体育知识付费领域推出多个针对性强的产品，丰富了产品矩阵，期望能在未来提升体育知识 付费平台竞争力及用户留存率。 疯狂体育(00082.HK)公布年度业绩，2024年度，集团实现收益4.114亿港元，体育知识付费平台收益为 2.59亿港元，同比增长13.68%，占总收益62.9%，成为集团主要关键的收益来源。年内录得亏损收窄至 1470万港元，相比2023年录得的2170万港元亏损减少32.2%。亏损减少乃主要由于其他收益增加以及销 售费用减少。 于2024年，集团致力于以稳健步伐推动数字体育娱乐业务的多元化发展，同时积极应对体育产业竞争格 局的变革及消费者需求多样化的挑战。在体育知识付费、体育及休闲游戏业务的海外拓展以及AI技术 研发等方面均持续发展。集团通过产品创新及优化体育知识付费内容，以满足用户日益增长 ...