Innovation and Wisdom (02121) announced the results for the year ended December 31, 2023. The group achieved revenue during the period...
According to the Zhitong Finance App, Innovation Qizhi (02121) announced the results for the year ended December 31, 2023. The group achieved revenue of 1,751 billion yuan (RMB, same below) during the period, an increase of 12.42%; gross profit of 588 million yuan, an increase of 16.05%; and R&D expenditure of 450 million yuan, an increase of 8.04% over the previous year.
The announcement stated that the increase in revenue was mainly due to the expansion of the company's overall scale and continued healthy development. The main signs are an increase in revenue in the manufacturing and financial services sector; an increase in the total number of customers and an increase in the number of high-quality customers.
During the period, the Group firmly implemented the “focus” strategy: focusing more on the main business of the manufacturing industry, the revenue of the “AI+ manufacturing” business segment reached 1,176 billion yuan, up 24.1% year on year, accounting for a sharp increase of 67.2% of overall revenue, a sharp increase of 6.3 percentage points over the previous year; more focus on high-quality business to drive continuous improvement and increase in gross margin; more focus on customer success. The number of customers increased 36.0% from 292 in 2022 to 397 in 2023; more focus on business quality, while maintaining continuous revenue growth, adjusted net loss ratio Compared with the previous fiscal year, the net cash used in operating activities improved significantly compared to the previous fiscal year, with a sharp improvement of 40.7% over the previous fiscal year, ensuring the company's steady and sustainable ability to operate. Driven by a “focus” strategy and “refined” management, the Group substantially optimized its business structure and raised its operating level, and iteratively transformed towards high-quality development. In 2023, Innovation Qizhi won the “Shandong Provincial High Quality Development Award Enterprise” issued by the Shandong Provincial Department of Industry and Information Technology.