JSTI(SZ:300284)2025-04-23 14:14Financial Performance - In 2024, the company achieved operating revenue of CNY 4.729 billion, a decrease of 10.40% compared to the previous year [7] - The net profit attributable to shareholders was CNY 224 million, down 31.92% year-on-year [7] - Operating cash flow was CNY 261 million, a decline of 14.91% from the previous year [7] Business Strategy and Market Position - The company is focusing on market expansion and business structure optimization to enhance contract value, targeting areas like "new infrastructure," "dual carbon," and "low-altitude economy" [2][3] - A comprehensive receivables management system has been established to mitigate risks and improve cash flow [3][8] - The company has developed a "value management system" and "negative public opinion management regulations" to enhance market value and manage public perception [3] Industry Outlook - The engineering consulting and contracting industry faces both opportunities and challenges, with government policies supporting sectors like smart transportation and green projects [3] - The company anticipates stable demand in the transportation infrastructure sector, with annual fixed asset investment expected to remain above CNY 3-3.5 trillion [3] Growth Drivers - Technological innovation is a key growth driver, with the establishment of national-level research platforms and numerous patents granted [4][10] - Digital transformation initiatives are underway, focusing on smart upgrades and the development of low-altitude economy services [4][5] - International expansion through subsidiaries, particularly in regions along the Belt and Road Initiative, is a strategic focus [5] Low-altitude Economy Development - The company has established a joint venture for low-altitude flight services and is actively developing a low-altitude flight supervision platform [5][6] - Ongoing projects include the establishment of a low-altitude economic development research institute and collaboration with government bodies for regulatory frameworks [8] Financial Management - The company's accounts receivable as of Q1 2025 accounted for 2046.01% of the latest annual net profit, indicating a significant impact on cash flow [8] - Measures to enhance receivables recovery include risk identification, contract compliance monitoring, and a structured collection mechanism [8] Investment Plans - In 2024, the company increased its investment by 84.22% compared to the previous year, focusing on new business areas and regional expansion [8][9] - Future investments will continue to align with the company's strategic development goals [9]