Core Viewpoint - The annual report of Hengyin Financial Technology Co., Ltd. for 2024 highlights the company's strategic transformation towards becoming a leading global fintech ecosystem service provider, focusing on innovation, digitalization, and operational efficiency. Company Overview and Financial Indicators - Hengyin Financial Technology Co., Ltd. reported a net profit attributable to shareholders of 40,123,574.32 yuan for 2024, with a proposed cash dividend distribution plan pending shareholder approval [5]. - The company achieved an operating income of 437,462,357.15 yuan in 2024, reflecting a slight increase from 426,686,741.60 yuan in 2023 [7][8]. - The total assets of the company were recorded at 1,742,791,294.49 yuan, showing a decrease of 4.37% compared to the previous year [8]. Business Strategy and Market Position - The company aims to leverage fintech to empower the real economy, focusing on technological innovation to break industry barriers and enhance organizational vitality [6][7]. - Hengyin has established a comprehensive product matrix covering various sectors, including finance, government, transportation, and social security, utilizing advanced computer vision and AI algorithms [18][20]. - The company has successfully expanded its international market presence, achieving sales in over 60 countries, including Bangladesh and the Philippines [23]. Product Development and Innovation - Hengyin has made significant advancements in new-generation core technology, achieving batch production and notable cost reductions [6][7]. - The company has developed an AI training platform for banknote recognition, integrating deep learning models to enhance its product capabilities [7][25]. - Continuous innovation in software solutions has been a focus, with the development of a comprehensive software suite covering all processes from device drivers to banking backend systems [26]. Industry Trends and Opportunities - The fintech industry is evolving from "tool empowerment" to "underlying reconstruction," with technologies like AI, big data, blockchain, and cloud computing becoming integral to financial services [10][12]. - The market for open banking is projected to reach 19.8 billion USD by 2024, indicating a shift towards platform-based and scenario-based competition [11]. - The demand for inclusive finance is expected to grow, driven by the integration of advanced technologies that lower service thresholds and costs [10][12]. Competitive Landscape - The global market for financial smart terminals is expanding, with North America, Europe, and the Asia-Pacific regions leading in adoption [13][14]. - Companies in the sector are increasingly focusing on technological innovation to enhance product performance and service quality, with AI and machine learning playing a crucial role [15][16]. - Regulatory policies are tightening, requiring companies to meet safety and data privacy standards while encouraging innovation through supportive measures [16][17].