April 28thNeedforspeedcrashST Di Weixun released the 2023 annual report and the 2024 quarterly report simultaneously. In 2023, the company achieved revenue 4.Needforspeedcrash.36 billion yuan, of which the income from comprehensive information construction of the main business is 4.Needforspeedcrash.34 billion yuan, accounting for 99.66% of revenue, an increase of 8.51% over the same period last year; net cash flow from operating activities increased by 105.75%, becoming a regular employee over the same period last year. In 2024, Q1 achieved revenue of 107 million yuan, an increase of 107.07 percent over the same period last year, and non-net profit increased by 82.21 percent, narrowing to-8.95 million yuan from-50.3 million yuan in the same period last year.

Speed up the rebate to resolve the financial difficulties

Data show that Di Weixun is a national high-tech enterprise. Originally mainly engaged in software services, smart city and smart park construction and other business, with the macro environment, policy adjustments and changes, the company actively promote business transformation and upgrading, shrink the high capital demand, slow turnover of smart city project-based business Shift to business systems with light assets, fast turnover and high growth ceilings, such as industry solutions, software development, IDC services, data transmission, computing, data collection and analysis, and intelligent application operations.

The main source of the company's project is the local government and industry users, and the implementation cycle of the project is also long. Although the possibility of bad debts is small, the liquidity needs to be advanced, and the risk of occupying and collecting accounts receivable is greater. This has also become the core issue of the company's survival and development.

According to the 2023 annual report, the net book value of the company's accounts receivable and other receivables is 373 million yuan (381 million yuan has been deducted from the impairment provision), accounting for 59.01% of the total assets at the end of the period.

Di Weixun said in the annual report that as the national and local governments attached great importance to and actively promoted the implementation of the debt settlement policy, it brought about for the company to solve the problem of accounts receivable.NeedforspeedcrashIt's possible. At the same time, due to the change of the macro environment, the value of accounts receivable as assets has rebounded to a certain extent. while communicating and collecting, the company is also actively looking for partners to seek opportunities for the sale and reorganization of such assets.

Considering that the proportion of the company's aforementioned assets receivable has reached 90%, once the collection or sale of accounts receivable is reorganized, it will be directly included in the current profits and increase in net assets, which will have a substantial positive effect on the financial structure and quality of the company.

In the aspect of actively resolving debts, the company has reached an agreement with some creditors in 2023 to resolve some debts and promote the gradual normalization of the credit of various business entities of the company. On the other hand, if the liability can be turned back, it will directly increase the net profit income.

At present, the application for retrial of the construction contract dispute between the company and Heilongjiang Construction Engineering Group has been accepted and arranged to be referred by the Guangdong Provincial High Court. Taking into account that the company has set aside the estimated liabilities in 2023, affecting the net profit of 56.3692 million yuan in 2023, if some or all of the cases are won, the corresponding amount will increase the company's net assets in 2024.

Improve customer composition, focus on computing, product layout, artificial intelligence

The National Development and Reform Commission, the State data Bureau and other departments recently jointly issued the "opinions on the in-depth implementation of the" East and West arithmetic "Project to accelerate the Construction of a National Integrated Computing Network. The overall goal of the opinion is to initially build a comprehensive computing infrastructure system that is easy to use, green and safe by the end of 2025.

While deeply ploughing the traditional main business, Di Weixun is also actively "tapping potential" for change.

On the one hand, the company is actively changing its business model, gradually transferring its business from the government and the park to users with urgent and sustained needs, such as financial technology, artificial intelligence, intelligent new energy, high level of marketization and strong ability to pay. On the other hand, while consolidating and expanding the sales business of artificial intelligence products and solutions, relying on the data channels and customer accumulation previously built by the company, we will promote the deepening of business in the field of artificial intelligence such as computing escrow and computing sales.

The company goes deep into the integrated application of information technology in the field of new energy, and expands the intelligent new energy business. The company developed the "hydrogen energy carbon-free transport capacity" management platform from 2022 to 2023, obtained the application test of some scenarios, and will continue to promote it in 2024; the "storage and use integrated management application platform" developed by the company provides "energy storage" for new energy producers. "consumption" support, with a wide range of promotion scenarios The "artificial intelligence application platform" independently developed by the company builds a bridge between the standard artificial intelligence computing power and application requirements. This year, the company will work with partners to promote, make up for their own shortcomings, and complete business development and implementation.

Through a series of measures, such as adjusting target customers, strengthening accounts receivable management, timely recovery of project funds, and focusing on artificial intelligence and intelligent new energy business, Deweison is taking the initiative to "save itself" in order to obtain more resources and funds. to enhance the ability to resist risks, it is expected to reverse the current situation of the company as soon as possible and realize "taking off stars and hats" as soon as possible.

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