Core Viewpoint - The Henan Railway Construction Investment Group reported a significant decline in revenue and profit for 2024, indicating financial distress and challenges in its operations [1][2]. Financial Performance - The company achieved a revenue of 5.389 billion yuan in the previous year, a year-on-year decrease of 71.79% [1]. - The net profit attributable to shareholders turned from a profit of 718 million yuan in 2023 to a loss of 1.683 billion yuan in 2024, marking a decline of 334.36% [1]. - The net profit for 2024 is projected to be -1.963 billion yuan, a decrease of 521.40% compared to the previous year [1]. Assets and Liabilities - As of the end of 2024, the total consolidated assets of the company amounted to 144.489 billion yuan, with non-current assets making up 84.14% of the total [2]. - The total liabilities reached 75.754 billion yuan, with interest-bearing debt at 67.350 billion yuan, resulting in a debt-to-asset ratio of 52.43% [3]. - The company reported a net cash inflow from operating activities of 999.5 million yuan, while the net cash flow from investing activities was -6.740 billion yuan [3]. Debt and Ratings - The company has 15 outstanding bonds with a total balance of 17.5 billion yuan, with 62.86% being private placements [3]. - The latest rating for the company is AAA, with a stable outlook, indicating strong debt repayment capability and solid external support [4].