Group 1: Company Performance and Challenges - The company faced significant growth pressure due to market shrinkage in traditional planning services, declining client payment capabilities, and intensified industry competition, resulting in a revenue of -4,531.48 million yuan and a net profit of -5,702.89 million yuan in 2024 [2] - In 2025, the company projected a net profit of 1-3 million yuan, representing a year-on-year growth of 9.32%, with a non-recurring net profit of 111.75 million yuan, up 57.08% [2] Group 2: Strategic Initiatives - The company aims to become a "smart city planning and operation expert" by enhancing internal management and implementing effective measures to address challenges [2] - Key initiatives include evaluating market potential for new business layouts, optimizing R&D processes for quicker market response, and strengthening financial management to ensure stability amid market fluctuations [2] Group 3: Urban Operations Business - The company is transitioning to urban operation services, focusing on integrated consulting, industrial planning, land resource consolidation, and various operational projects [3] - Recent projects include the Foshan Sanshui project and the Shenzhen Leao Industrial City Innovation Center, which are expected to serve as replicable models for expansion in other cities [3] Group 4: R&D Developments - Significant progress in R&D includes platforms like "City Radar" and "CIM Platform," which support planning and urban operation consulting [4] - New applications based on AIGC technology, such as "Park Universe" and "Drawing AI," have been launched to enhance public services and are actively used in daily operations [4] Group 5: Industry Fund Introduction - The company has introduced the Jiaoxin Huicheng Industrial Fund to leverage its resources in transportation, communication, and big data, aiming to empower its urban planning and smart city operations [6] - The share transfer related to this fund is pending compliance review by the Shenzhen Stock Exchange [6]

Group 1: Company Performance - In 2024, the company achieved operating revenue of 318.79 million yuan, with a net loss attributable to shareholders of -45.31 million yuan and a non-recurring net profit of -57.03 million yuan, indicating significant growth pressure due to market shrinkage and increased competition [1] - In Q1 2025, the company reported a net profit attributable to shareholders of 3.80 million yuan, a year-on-year increase of 9.32%, and a non-recurring net profit of 1.12 million yuan, up 57.08% year-on-year [1] Group 2: Strategic Measures for Performance Improvement - The company plans to focus on new business layouts and market potential, reallocating resources to core businesses that can generate short-term returns while reducing or halting long-term projects [2] - Efforts will be made to enhance R&D efficiency and ensure quick market responsiveness of products, while maintaining R&D investment [2] - Financial management will be strengthened to control costs and improve capital efficiency, ensuring a stable financial position amid market fluctuations [2] Group 3: Low-altitude Economy Initiatives - The company has successfully won bids for several low-altitude economy projects, including planning studies and operational services in the Guangdong-Hong Kong-Macao Greater Bay Area [3] - It has joined the low-altitude economy industry alliance and established strategic partnerships to explore operational service chains in this emerging sector [3] Group 4: R&D Developments in Smart City Initiatives - In 2024, the company invested 45.31 million yuan in R&D, accounting for 14.21% of its operating revenue [5] - Significant advancements have been made in platforms such as "Urban Radar" and "CIM Platform," which support planning and urban operation consulting services [5] - New applications based on AIGC technology, including public service platforms and planning design assistants, have been launched to enhance community engagement and service delivery [5]

Core Viewpoint - The company, Lei'ao Planning, is focused on becoming a "smart city planning and operation expert" while expanding its urban operation and digital economy businesses, aiming for growth through various strategic initiatives. Stock Performance - As of June 6, 2025, Lei'ao Planning's stock closed at 16.76 yuan, up 1.7% from the previous week. The stock reached a high of 17.55 yuan and a low of 15.99 yuan during the week. The company's total market capitalization is 3.542 billion yuan, ranking 17th out of 41 in the engineering consulting services sector and 3825th out of 5148 in the A-share market [1]. Shareholder Changes - As of May 30, 2025, the number of shareholders decreased to 10,100, a reduction of 273, or 2.64%. The average number of shares held per shareholder increased from 20,400 to 21,000, with an average holding value of 346,000 yuan [1]. Business Strategy and Growth Points - The company aims to expand its traditional business segments and enhance market competitiveness. Future growth points include the rollout of operational projects, sales of I products, overseas market expansion, and investments in low-altitude economy, digital economy, and computing power businesses [2][3]. Low-altitude Economy Projects - Lei'ao Planning has successfully won multiple low-altitude economy projects, including the planning study for low-altitude application scenarios at Shenzhen Port, and has joined the Guangdong-Hong Kong-Macao Greater Bay Area Low-altitude Economy Industry Alliance [3]. Computing Power and AI Initiatives - The company has been selected as a partner for Guangdong Unicom's computing power and AI projects and has completed the procurement of computing power services. This move is part of the company's transition from traditional urban planning to digital services [3]. R&D in Artificial Intelligence - Lei'ao Planning has made significant progress in AI research and development, with several platforms such as "City Radar" and "Industry Brain" being developed and implemented [3]. Financial Management and Cost Control - The company is actively assessing market potential and profitability, adjusting resource allocation, improving R&D efficiency, and enhancing financial management to control costs and improve capital efficiency [4]. Investment Fund Performance - As of the end of 2024, the company's high-tech investment fund has invested in 10 projects, focusing on strategic emerging industries such as smart manufacturing, semiconductors, new energy, new materials, and smart cities [5]. Market Value Management - The company plans to enhance its market value through cash dividends, share buybacks, equity incentives, employee stock ownership plans, investor relations management, and information disclosure [6].

Company Overview - The company aims to become a "smart city planning and operation expert" while expanding its urban operation and digital economy businesses [1] - The operational strategy focuses on leveraging Shenzhen's advantages to enhance competitiveness through comprehensive planning and consulting services [1] Growth Strategies - Key growth points include: - Expanding traditional business sectors to regain market share [2] - Realizing contributions from operational projects in the near future [2] - Launching AI products to boost revenue [2] - Exploring overseas markets for additional revenue [2] - Engaging in low-altitude economy, digital economy, and computing power businesses [2] - Advancing investment and acquisition strategies [2] - Improving cost efficiency and resource utilization [2] Low-altitude Economy Initiatives - The company has successfully bid for several low-altitude economy projects, including planning studies and operational services [3] - It is a member of the Guangdong-Hong Kong-Macao Greater Bay Area Low-altitude Economy Industry Alliance [3] - Strategic partnerships have been established to promote low-altitude economic services [3] AI and Computing Power Development - The company is expanding into AI computing power services, having obtained necessary licenses and partnerships [4] - It has launched several AI-driven platforms and tools to enhance urban planning and management [5] - The "Rai AI Planning Design Assistant" has been officially released and is widely used [5] Financial Performance and Management - The company faced losses last year but reported profits in Q1 of this year, implementing measures to stabilize future performance [6] - Strategies include focusing on core businesses with short-term returns, optimizing R&D efficiency, and enhancing financial management [6] Investment Fund Status - The company established a 500 million RMB equity investment fund targeting strategic emerging industries [7] - As of the end of 2024, the fund has invested in 10 projects, with plans to continue leveraging industry resources for future investments [7] Market Value Management - The company maintains a strong cash flow and plans to enhance market value through various strategies, including cash dividends and share buybacks [8] - Continuous focus on operational efficiency and investor relations is emphasized to reflect and enhance investment value [8]

Financial Performance - In 2024, the company achieved operating revenue of 318.79 million yuan, a decrease of 33.97% year-on-year [4] - The net profit attributable to shareholders was -45.31 million yuan, down 202.85% compared to the previous year [4] - The non-recurring net profit was -57.03 million yuan, a decline of 284.54% year-on-year [4] - In Q1 2025, the company reported a net profit of 3.80 million yuan, an increase of 9.32% year-on-year, and a non-recurring net profit of 1.12 million yuan, up 57.08% [4][5] Business Challenges - The company faces significant growth pressure due to the shrinking traditional planning market, declining customer payment capabilities, and intensified industry competition [2][7] - The revenue decline is attributed to the ongoing investment in new urban operation and smart city projects, which have not yet contributed significantly to performance [7] Strategic Initiatives - The company aims to enhance profitability through several measures, including focusing on core businesses with short-term revenue potential, optimizing R&D efficiency, and strengthening financial management [3][4][14] - R&D investment reached 45.31 million yuan, accounting for 14.21% of operating revenue, indicating a commitment to innovation despite financial challenges [21] Market Position and Opportunities - The company is positioned as a leading player in the planning and design industry, with a market share in the planning design sector estimated between 50-65 billion yuan [8] - Future growth points include expanding traditional business segments, leveraging AI products, and exploring overseas markets [9][26] Cost Control Measures - The company has implemented strict cost control measures, including reducing expenses related to rent, utilities, and travel, while utilizing AI products to enhance project efficiency [3][11] ESG and Social Responsibility - The company integrates ESG principles into its operations, ensuring compliance with environmental regulations and actively engaging in community support initiatives [22][23] Communication with Investors - The company maintains diverse communication channels with investors, ensuring transparency and protecting the rights of shareholders [24][32]