ENTERPRISE DEVELOPMENT HOLDINGS LIMITED ANNUAL RESULTS FOR THE YEAR 2024
Financial Highlights- Revenue was RMB408,585,000, representing an increase of 574% year-on-year;- Gross profit was RMB46,014,000, representing an increase of 77% year-on-year;- Net profit was RMB73,561,000, representing an increase of 1,835% year-on-year;- Closing cash and cash equivalents was approximately RMB160,575,000.HONG KONG, Mar 24, 2025 - (ACN Newswire via SeaPRwire.com) - Enterprise Development Holdings Limited (“Enterprise Development Holdings” or the “Company”, stock code: 1808.HK) announced the consolidated financial results of the Company and its subsidiaries (collectively referred to as the “Group”) for the year ended December 31, 2024 (the “Reporting Period”).In 2024, driven by emerging sectors such as artificial intelligence, digital industry of China maintained stable overall operations, with further enhancements in innovation capabilities. The pace of enterprises going global accelerated, continuously accumulating new momentum and advantages. The Group actively seized industry development opportunities, led with innovation and made steady progress. The Group continued to steadily expand its existing business while fostering new-quality productive forces, with a focus on the digital economy sector. The Group’s business layout and development have begun to bear fruit through phased achievements.During the Reporting Period, benefiting from the continuous development of the Group’s existing business, the Group secured and completed new contracts which involved integrated IT solutions, edge computing, intelligent computing and other data services. The Group recorded the revenue of approximately RMB408,585,000, representing an increase of 574% year-on-year. Driven by the significant rise in revenue and the increase in net gains from the sale of financial assets and fair value adjustments, net profit was approximately RMB73,561,000, representing an increase of 1,835% year-on-year.BUSINESS REVIEWIn 2024, the Group adopted a business-oriented approach to accelerate the construction of the “three chains and one circle” model, continuously reinforcing an innovation-driven, open and win-win digital economy ecosystem. Meanwhile, the Group combined its technological and capital advantages in a dual-chain approach to empower various sections across the industrial ecosystem and create new engines for business growth through means such as industrial incubation and investments.In terms of capital operation, the Group has established an industrial investment fund. Through means such as industrial incubation and investments, it aims to gather more premium resources, build new engines for business growth, and further solidify its leading position in the digital economy sector. In terms of investment, in 2024, Beijing Orient Legend Maker Software Development Co., Ltd. invested 15% equity interests in Beijing Longteng Haida Technology Development Co., Ltd. to expand market penetration in PRC’s enterprise sector, leveraging its expertise in cloud-based platforms and AI-driven tools to enhance operational efficiency for their customers.During the year of 2024, the software business was benefited from the all-round improvement in management to significant growth of in the year. During the Reporting Period, the Group continued to develop its existing business, and entered into and completed new contracts which involved integrated IT solutions, edge computing, intelligent computing and other data services. The overall revenue from its software business reached RMB407,756,000, representing a year-on-year increase of 579%.OUTLOOKAmid the wave of digital transformation, digital technology is integrating into every corner of socio-economic development, becoming a crucial engine driving accelerated urban economic growth and fostering high-quality industrial advancement. In the future, the Group will capitalize on its longstanding customer resources and product and service advantages to strengthen its foundations and consolidate existing businesses. In addition, the Group will proactively position itself for the development of new-quality productive forces catalyzed by a combination of factors such as cutting-edge scientific and technological breakthroughs, innovative allocation of factors of production and industrial transformation and upgrading, particularly in the digital economy sector, promoting the integration of digital and real economy, and driving business innovation and upgrades.To actively embrace the opportunities of the digital transformation era, the Group will continue to optimize and consolidate its first-mover advantages in the fields of data elements, data asset operations, AI computing and edge computing in the future. The Group will fully unleash the agglomeration effect of the industrial chain, dedicating long-term efforts to industrial chain integration and industrial ecosystem development. Leveraging the technological potential of big data, big models and high-performance computing power, the Group is committed to establishing itself as a service provider that concentrates on the digital economy sector, with a focus on data elements, data asset operations, AI computing and edge computing, aiming to provide customers with integrated digital technology solutions and create value for our shareholders.About Enterprise Development Holdings LimitedEnterprise Development Holdings Limited (“Enterprise Development Holdings” or the “Group”, stock code: 1808.HK) is committed to establishing itself as a service provider that concentrates on the digital economy sector, with a focus on data elements, data asset operations, AI computing and edge computing, aiming to provide customers with integrated digital technology solutions.The Group will adopt a business-oriented approach to open up and establish a “three chains and one circle” model: focusing on the overall synergy of the innovation chain, industrial chain and financial chain. The Group will continue to optimize and consolidate its first-mover advantages in the fields of data elements, data asset operations, AI computing and edge computing. The Group will fully unleash the agglomeration effect of the industrial chain, dedicating long-term efforts to industrial chain integration and industrial ecosystem development. Leveraging the technological potential of big data, big models and high-performance computing, the Group will facilitate the integration of digital and real economy, continuously driving business innovation and upgrades. Copyright 2025 ACN Newswire via SeaPRwire.com.
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