Core Insights - The company reported a significant decline in revenue and net profit for the year 2024, with total revenue of 246 million yuan, a decrease of 289 million yuan or 54.04% year-on-year, and a net loss of 134 million yuan, down 150 million yuan or 956.85% year-on-year [1][2] - The management highlighted substantial changes in the business environment, particularly in the digital talent training sector, leading to a notable drop in market demand and revenue [2] Revenue and Profit Analysis - The company's operating revenue from short-term training, which constitutes over 85% of total revenue, fell by 58.48%, with a corresponding decline in gross margin of 18.73% [2] - The net cash flow from operating activities was negative at 87.21 million yuan, a decrease of 86.69 million yuan or 16681.7% year-on-year [1] Research and Development - Total R&D expenditure for the year was 50.16 million yuan, ranking fifth in the last five years, and decreased by 13.30 million yuan or 20.96% year-on-year [2] - The number of R&D personnel dropped from 127 in 2023 to 71 in 2024, representing a reduction of over 44%, with a significant decrease in younger R&D staff under 30 years old, which fell by 78.38% [2]