Yonyou(600588) 新浪财经·2025-04-01 00:31Core Insights - The company reported a revenue of 9.153 billion in 2024, a year-on-year decline of 6.57%, with a net profit attributable to shareholders of -2.061 billion [1] - The decline in revenue is attributed to delayed customer demand and a strategic shift towards subscription business models, impacting short-term revenue [2] - The company experienced losses due to increased amortization of capitalized intangible assets, higher employee compensation costs, and impairment losses on long-term equity investments and goodwill [3] Revenue Breakdown - Core product BIP3 generated revenue of 3.14 billion, accounting for a 2.4 percentage point increase in overall revenue share; subscription revenue grew by 26.0% year-on-year [3] - Large enterprises signed 7 new contracts in 2024, totaling 44 contracts, including several major state-owned enterprises [4] - Subscription revenue from medium-sized enterprises surged by 65.8%, with a renewal rate of 95.0% [4] - Cloud subscription revenue increased by 34.1%, with 143,000 new paying enterprise users, bringing the total to 775,000 [4] - Contract liabilities reached 3.05 billion, an 8.8% increase from the end of 2023, with cloud-related contract liabilities growing by 13.0% [4] Operational Efficiency - The company is optimizing its business organization, reducing employee count to 21,283, a decrease of 3,666 from the end of 2023 [5] Financial Forecast - Revenue projections for 2025-2027 are 9.607 billion, 10.367 billion, and 11.367 billion, with year-on-year growth rates of 4.97%, 7.90%, and 9.65% respectively [6]