Financial Performance - The company reported a total revenue of 4.037 billion yuan for the fiscal year 2024, an increase of 18.33% compared to the previous year [1] - The net profit attributable to shareholders was -156 million yuan, a decrease of 9.39% year-on-year [1] - The gross margin was 24.23%, down 15.06% from the previous year, while the net margin was -3.81%, an improvement of 14.96% [1] - The total expenses (selling, administrative, and financial) amounted to 708 million yuan, accounting for 17.53% of revenue, a decrease of 2.02% year-on-year [1] - The earnings per share were -0.18 yuan, a decline of 9.5% compared to the previous year [1] Cash Flow and Financial Health - The company reported a negative operating cash flow of -0.07 yuan per share, a significant decrease of 125.79% year-on-year [1] - The average operating cash flow over the past three years relative to current liabilities is only 19.6%, indicating potential liquidity concerns [3] Business Model and Strategy - The company primarily provides management software services to government departments and large enterprises, relying heavily on research and development for its performance [3] - The company launched the Jiuxi Nvwa GPT platform to assist clients in digital transformation, indicating a focus on integrating AI technology into its services [4] - The company has developed three replicable intelligent products, including "Smart Query Data," "Smart Query," and "Smart Report," aimed at enhancing data analysis and reporting capabilities for clients [4]