Core Points - The company reported a significant decline in revenue and net profit for the year 2024, with revenue decreasing by 17.28% to approximately 4.43 billion yuan and net profit dropping by 45.05% to approximately 392 million yuan [1][24][25] - The company failed to meet its budget targets for both revenue and net profit, with actual revenue falling short by 13.93 percentage points and net profit by 42.03 percentage points compared to the budgeted figures [1][25] - The company aims to achieve a revenue of at least 4.68 billion yuan and a net profit of at least 400 million yuan in 2025, indicating a focus on recovery and growth [26] Financial Performance - The company's operating income for 2024 was approximately 4.43 billion yuan, down from approximately 5.35 billion yuan in 2023, marking a 17.28% decrease [24] - The net profit for 2024 was approximately 392 million yuan, a decrease of 45.05% compared to the previous year [24] - The cash flow from operating activities was approximately 307 million yuan, which is a 38.60% decline from the previous year [24] Budget Execution - The budgeted revenue for 2024 was set at 5.145 billion yuan, but the actual revenue fell short by 13.93 percentage points [1][25] - The target for net profit was set at no less than 660 million yuan, but the actual net profit was 392 million yuan, resulting in a shortfall of 42.03 percentage points [1][25] - The target for cash flow from operating activities was set at no less than 400 million yuan, but the actual cash flow was 307 million yuan, missing the target by 23.34 percentage points [2][25] Board Responsibilities - The board held multiple meetings throughout the year to discuss various proposals, including employee stock ownership plans and financial reports [2][3][4] - The board approved significant actions such as the establishment of a technology fund and the management of cash flow from idle funds [2][3][4] - The board emphasized the importance of compliance and strategic planning to navigate the challenging market environment [9][10] Strategic Direction - The company is focusing on high-quality transformation and aims to become a comprehensive technology integrator, moving beyond traditional engineering design [10][26] - The strategic plan includes enhancing operational efficiency and expanding into new markets, particularly in Southeast Asia and Central Asia [12][26] - The company is also investing in digital transformation and innovation to improve its service offerings and operational capabilities [10][12]