Core Insights - The company achieved revenue growth and significant net profit increase in 2024 despite a complex macroeconomic environment, although cash flow from operating activities declined [1][2][3]. Financial Performance - Revenue reached 6,204,993,661.51 CNY, a 13.72% increase from 5,456,563,528.74 CNY in 2023, driven by expanded sales scale [2]. - Net profit attributable to shareholders was 163,286,339.70 CNY, up 97.39% from 82,723,583.09 CNY in 2023, benefiting from increased revenue and improved cost control [3]. - Basic earnings per share rose to 0.88 CNY from 0.43 CNY, reflecting enhanced shareholder value creation [4]. Cost and Expense Analysis - Sales expenses increased by 17.64% to 64,350,048.42 CNY due to higher personnel costs associated with expanded sales efforts [5]. - Management expenses grew by 11.86% to 104,493,952.41 CNY, primarily due to increased salaries and depreciation [5]. - Financial expenses decreased by 51.81% to 21,075,844.56 CNY, positively impacting profit growth [5]. Cash Flow Analysis - Net cash flow from operating activities fell by 34.28% to 233,565,665.32 CNY, indicating potential liquidity concerns [6]. - Net cash flow from investing activities improved to -357,380,199.26 CNY from -687,930,885.57 CNY, suggesting a strategic reduction in external investments [6]. - Net cash flow from financing activities was -211,427,662.15 CNY, reflecting increased borrowing to meet operational needs [6]. Research and Development - R&D expenses totaled 194,930,749.68 CNY, accounting for 3.14% of revenue, highlighting the company's commitment to innovation [8]. - The R&D team consists of 228 personnel, with a majority being young professionals, although the lack of high-education staff may limit advanced technical capabilities [9].