Financial Performance Overview - The total revenue for the company in 2024 was 691 million yuan, a year-on-year decrease of 2.06% [1] - The net profit attributable to shareholders was -78.48 million yuan, a year-on-year decline of 207.88%, with the non-recurring net profit at -82.65 million yuan, down 175.99% [1] - In Q4, total revenue was 189 million yuan, an increase of 0.99% year-on-year, but the net profit attributable to shareholders was -38.01 million yuan, a decrease of 383.04% [1] Profitability Analysis - The gross margin for 2024 was 9.03%, a decrease of 33.0% year-on-year [2] - The net margin was -11.46%, down 194.47% year-on-year [2] - Earnings per share were -0.15 yuan, a decline of 205.95% year-on-year [2] Cash Flow Situation - The operating cash flow per share was -0.11 yuan, a decrease of 194.67% year-on-year [3] - The net cash flow from operating activities significantly decreased due to reduced project collections compared to the previous year [3] - Cash and cash equivalents were 132 million yuan, a year-on-year decrease of 21.15%, while accounts receivable reached 445 million yuan, accounting for 64.39% of total revenue, an increase of 7.25% year-on-year [3] Expense Control - The ratio of three expenses (selling, administrative, and financial expenses) to revenue was 11.93%, a decrease of 9.52% year-on-year [4] - Financial expenses increased by 149.8% year-on-year, primarily due to increased interest expenses from larger financing and reduced interest income from decreased deposits [4] Industry and Business Outlook - The telecommunications industry is experiencing rapid development, with strong government support for 5G network construction and application promotion [5] - The company will continue to focus on mobile communication technology services, catering to the needs of operators, Huawei, and ZTE, while actively expanding business cooperation in government, enterprise, and digital economy sectors [5] - The company is also exploring opportunities in emerging fields such as the metaverse and virtual reality [5] Summary - Overall, the company's financial performance in 2024 was poor, particularly in profitability, cash flow management, and expense control [6] - Future focus should be on improving cash flow and controlling costs to address challenges from market competition and technological changes [6]

Financial Performance - The company reported a net profit of RMB 69,405,959.61 for 2024, with the parent company achieving a net profit of RMB 73,165,810.45 [9] - The company's revenue for 2024 was RMB 4.48 billion, representing a year-on-year increase of 2.97%, while the net profit attributable to shareholders decreased by 62.61% compared to 2023 [12] - The company's asset-liability ratio stood at 68.83% [12] Profit Distribution Plan - The company plans not to distribute profits for the 2024 fiscal year, which includes no cash dividends, stock bonuses, or capital reserve transfers [8][9] - The profit distribution proposal is subject to approval at the shareholders' meeting [10] Cash Management - The company intends to use up to RMB 450 million of temporarily idle raised funds for cash management, which will be valid for 12 months and can be rolled over [21][24] - The cash management will involve purchasing low-risk, liquid financial products, ensuring that these funds are not used for securities investment purposes [21][28] Accounting Policy Change - The company is changing its accounting policy in accordance with the Ministry of Finance's new guidelines, specifically the "Interpretation No. 18" regarding accounting for quality assurance liabilities [37][39] - This change is not expected to have a significant impact on the company's financial status, operating results, or cash flows [38][43]

Core Viewpoint - The article discusses the recent stock price surge of Jiahuan Technology and its clarification regarding its business operations, particularly in relation to the computing power concept, amidst market speculation [2][4][5]. Group 1: Jiahuan Technology - Jiahuan Technology's main business includes network construction services, operation services, ICT education training, and intelligent services for government and enterprises [3]. - The company has established a new subsidiary, Wuxi Jiahuan Intelligent Technology Co., Ltd., focusing on AI application software development and 5G communication services [3]. - Following a series of trading halts, Jiahuan Technology's stock price reached a recent high of 24.56 yuan per share, with a significant trading volume increase [4][5]. - The company clarified that it does not engage in data center investments or computing power leasing, and it has no business cooperation with relevant AI firms [5]. - Jiahuan Technology's 2024 profit forecast indicates a potential decline in net profit by approximately 40.73% to 60.13%, attributed to increased competition and rising costs [5][6]. Group 2: Financial Performance - The company expects a net profit of about 74 million to 110 million yuan for 2024, a decrease from the previous year [5]. - The anticipated decrease in profit is linked to rising procurement and labor costs, as well as increased credit impairment losses [5][6]. - The company will no longer benefit from a VAT reduction policy in 2024, further impacting its financial performance [6]. Group 3: Market Reactions - Other companies, such as Litong Electronics, also experienced stock price surges due to perceived connections to the computing power sector, despite clarifying their core business operations [7][8]. - Litong Electronics aims to develop its AI computing power business, indicating a strategic shift towards new growth areas [8]. - The article highlights the volatility in stock prices related to speculative trading in the computing power sector, urging investors to exercise caution [5][9].

日 录 7-2-1 关于中贝通信集团股份有限公司 向不特定对象发行可转换公司债券申请文件 审核问询函中有关财务事项的说明 | 一、关于前次募集资金变更 …………………………………………………… 第 1一5 页 | | --- | | 二、关于 2022 年业绩 ……………………………………………………第 5—12 页 | | 三、关于财务性投资 ································································· 第 12-22 页 | | 四、关于其他 ………………………………………………………第 23-36 页 | 天健函〔2023〕2-58 号 上海证券交易所: 由海通证券股份有限公司转来的《关于中贝通信集团股份有限公司向不特定 对象发行可转换公司债券申请文件的审核问询函》(上证上审(再融资)〔2023〕 123 号,以下简称审核问询函)奉悉。我们已对审核问询函所提及的中贝通信集 团股份有限公司(以下简称中贝通信公司或公司)财务事项进行了审慎核查,现汇 报如下。 本说明中部分合计数与各项目直接相加之和在尾数上可能存在差异,这些差 异是由四舍五 ...