Core Viewpoint - China Electric Valley (中电光谷) reported a total revenue of RMB 3.5885 billion for the fiscal year 2024, with a gross profit of approximately RMB 1.097 billion and a net profit of around RMB 106 million, demonstrating a solid financial performance amidst ongoing strategic transformations [1][2]. Financial Performance - In 2024, the company achieved a positive operating cash flow for the sixth consecutive year, with a net inflow of RMB 29.4 million [1]. - The asset-liability ratio stood at 62.0% as of December 31, 2024, slightly decreasing from the beginning of the year, while the adjusted asset-liability ratio, excluding contract liabilities, was 60.0% [1]. Business Structure and Strategy - The company operates under a "one body, two wings" business model, focusing on park operation services, park development, and industrial investment [1]. - The revenue structure and profit composition reflect the strategic effectiveness of the company's transformation efforts [1]. Project Development and Expansion - In 2024, the company added five new quality industrial park projects, including OVU Changjiang Smart Valley and OVU Heyuan Smart Valley, expanding its land reserve to approximately 4.914 million square meters across multiple cities [2]. - The park consulting business saw significant progress, with over 60 contracts signed and contract value exceeding RMB 100 million, laying the groundwork for future operational breakthroughs [2]. Innovation in Development Model - The company has innovated its park development model through "agile customization," resulting in over 100,000 square meters of signed area and contract value exceeding RMB 400 million in 2024 [2]. - This agile customization approach is becoming a key path for innovation in the industrial real estate business model [2]. Industrial Investment Activities - Wuhan Zero Degree Capital Investment Management Co., the company's investment arm, established three equity funds and one real estate fund in 2024, enhancing the asset structure and optimizing resource allocation towards quality enterprises related to park development [3]. - The investment activities led to the collaboration with local guiding funds, driving synergies in park space business through investments in local projects [3].