Core Viewpoint The company has approved several key reports and proposals for the 2024 fiscal year, including the annual financial report, internal control self-evaluation report, and plans for profit distribution and bank credit applications. The financial performance shows a significant decline in profits, while the company is taking steps to optimize its financing structure and manage its assets effectively. Financial Performance - The company reported operating revenue of 410.72 million yuan for the reporting period, an increase of 95.30 million yuan, representing a growth of 30.22% compared to the previous year [6] - Operating profit was -10.76 million yuan, a decrease of 271.22% year-on-year [6] - Total profit was -11.08 million yuan, down 283.02% year-on-year [6] - Net profit attributable to shareholders was -10.05 million yuan, a decline of 323.51% year-on-year [6] - Total liabilities at the end of 2024 were 280.45 million yuan, an increase of 22.63 million yuan, or 8.78% from the previous year [6] Annual Reports and Proposals - The company has passed the 2024 Annual Supervisory Board Work Report, which will be submitted for shareholder approval [1][4] - The 2024 Annual Report and its summary were approved, confirming compliance with legal and regulatory requirements, and accurately reflecting the company's operational status for 2022 [3][4] - The 2024 Annual Financial Settlement Report was approved, highlighting significant losses in profit [6][7] - The 2024 Internal Control Self-Evaluation Report was approved, indicating a well-established internal control system [8] Profit Distribution - The company proposed not to distribute profits for 2024 due to negative retained earnings, with a net profit of -100.50 million yuan for the consolidated entity and -87.68 million yuan for the parent company [12][13] Financing and Credit Proposals - The company plans to apply for a cumulative credit limit of up to 6.5 billion yuan from banks for 2025 to enhance financing channels and optimize the financing structure [14][15] - The proposal for asset impairment provision was approved, aligning with accounting standards and reflecting the company's financial condition [16] Asset Management - The company approved the use of idle funds for entrusted financial management, allowing investment in low-risk financial products to enhance fund efficiency [19][20] - The company will seek authorization for small-scale rapid financing not exceeding 300 million yuan, which is 20% of the latest net assets [21][22] Stock Options and Incentives - The company approved the conditions for the third exercise period of the 2022 stock option and restricted stock incentive plan, confirming compliance with relevant regulations [23][24] - The company will cancel 102,000 stock options for employees who have left or did not meet performance conditions [25] - The company will repurchase and cancel 82,000 restricted stocks for similar reasons [28][30] Governance - The company proposed the election of new non-employee representative supervisors for the ninth supervisory board, ensuring compliance with governance regulations [31][33]