Core Viewpoint - CloudWalk Technology, once hailed as one of the "AI Four Little Dragons," reported its lowest revenue in seven years for 2024, marking its eighth consecutive year of losses with a cumulative loss exceeding 4.579 billion yuan [2][5]. Financial Performance - In 2024, CloudWalk's revenue was approximately 398 million yuan, a year-on-year decline of 36.69%, with the main business revenue also decreasing by 36.70% [2][5]. - The net profit attributable to shareholders was approximately -696 million yuan, with losses expanding by 8.12% year-on-year, resulting in a total cumulative loss of over 4.579 billion yuan [5][7]. - The company's revenue for 2022-2024 was reported as 526.4 million yuan, 628.1 million yuan, and 398 million yuan, reflecting a significant drop of 51.06% in 2022, a growth of 19.33% in 2023, and a decline of 36.70% in 2024 [5][7]. Employee Changes - CloudWalk experienced a significant reduction in its workforce, with total employees decreasing from 801 to 453, a reduction rate of 43.44% [9][10]. - The number of R&D personnel dropped from 467 to 228, a reduction rate of 51.18%, and R&D expenses decreased by 18.27% [9][10]. Management Adjustments - The annual salary of the chairman and general manager, Zhou Xi, was adjusted to 1.9149 million yuan, a decrease of 74,600 yuan, or 3.75% [2][11]. Shareholder Activity - The second-largest shareholder, Jiadu Technology, continued to reduce its stake in CloudWalk, selling 761,888 shares in 2024, following a significant sell-off in 2023 [12]. - The third-largest shareholder also reduced its holdings, indicating a potential loss of confidence in the company among major investors [12]. Industry Context - CloudWalk faces increasing competition from emerging AI companies like DeepSeek and challenges from large equipment manufacturers and internet giants, which may impact its market attractiveness [13].