Core Viewpoint - KJ Intelligent reported a revenue of 1.394 billion yuan for 2024, but incurred a net loss of 58.63 million yuan, marking two consecutive years of losses. The overseas revenue of 338 million yuan saw a significant increase of 150.55%, becoming the main driver of growth [1][2][3]. Group 1: Financial Performance - The company achieved a domestic revenue of 1.023 billion yuan in 2024, a year-on-year increase of 3.2%, with a low gross margin of 8.72% [2][3]. - The overseas business generated a revenue of 338 million yuan, with a gross margin of 22.55%, benefiting from large orders signed in 2023 with clients like Shopee and Sailun Group [3][4]. - The total contract liabilities reached 705 million yuan by the end of 2024, an increase of 43.78%, with 140 million yuan of these liabilities being overdue by more than one year [4]. Group 2: Business Strategy and Market Position - The company adopted a more competitive pricing strategy to maintain market share among major domestic clients such as JD.com and SF Express [2][3]. - The overseas business growth is attributed to the company's service to international e-commerce platforms and large-scale projects in the smart logistics and manufacturing sectors [3][4]. Group 3: Investment Projects and Future Outlook - The company faced delays in its fundraising projects, with the "Headquarters and R&D Center Construction Project" postponed to May 2025, and the "Marketing Network and Digital Construction Project" delayed to December 2026 [4][5]. - The company stated that the delays in fundraising projects would not significantly impact its core business or future development [5].