GDTC(688186) 金融界·2025-04-21 14:09Core Viewpoint - The company reported a modest growth in revenue and net profit for 2024, but the growth rate has significantly slowed down, indicating challenges in market competition and cost control [1][4]. Revenue and Profitability - In 2024, the company achieved an operating revenue of 4.003 billion, a year-on-year increase of 5.67%, which is a substantial decline from the previous year's growth rate of 12.51% [4]. - The net profit attributable to shareholders was 115 million, reflecting a year-on-year growth of 4.97%, while the non-recurring net profit increased by only 1.19% to 74.3766 million [1][4]. Cash Flow Management - The net cash flow from operating activities was -261 million, although this shows significant improvement compared to the previous year, it remains in a net outflow state [5]. - After excluding the impact of bill discounts and long-term asset purchases, the adjusted net cash flow from operating activities was 467 million, indicating some progress in cash flow management [5]. Accounts Receivable Management - The company faces considerable pressure in managing accounts receivable, despite implementing measures to improve collection efficiency by linking collection performance to individual accountability [5]. Research and Development - In 2024, the company increased its R&D investment to 211 million, a year-on-year growth of 12.71%, representing 5.27% of operating revenue, which is an increase of 0.33 percentage points from the previous year [6]. - The company introduced three core technologies focused on special alloy smelting and production technologies in the renewable energy wind power sector, achieving significant breakthroughs in various products [6]. Overall Performance - Despite maintaining a steady development momentum in 2024, the company continues to face issues such as slowing revenue growth, weak net profit growth, and cash flow pressure, necessitating further efforts in market competition, cost control, and technological innovation [6].