Glodon Company Limited
广联达
002410
Shenzhen Stock Exchange
Company Profile
In 2024, the Company achieved total revenue of RMB6.203 billion, representing a year-on-year decrease of 4.93%, while net profit attributable to shareholders of the listed company reached RMB250 million, marking a 116.19% year-on-year increase. During the Reporting Period, in response to changes in the external environment and shifts in customer demand due to business transformations, the Company proactively adjusted its operational strategies, optimized its product and business structures, and concentrated its business resources on core products, key regions, and major clients. This led to a more rational product portfolio and more efficient utilization of channel resources. The Company further focused its organizational resources on enhancing internal operational efficiency and overall service quality, deepened digital operations, and implemented multiple measures to effectively control costs and expenses, achieving significant results. During the Reporting Period, sales expenses, administrative expenses, and R&D expenses decreased by 5.97% year-on-year, further enhancing the Company's overall core competitiveness. By business segment, Digital Cost services generated operating revenue of RMB4.986 billion, a year-on-year decrease of 3.55%. Cloud contracts signed during the Reporting Period amounted to RMB3.424 billion, a year-on-year decrease of 3.93%. Digital Construction services achieved operating revenue of RMB787 million, a year-on-year decrease of 8.71%. Digital Design services generated operating revenue of RMB90 million, a year-on-year increase of 3.28%. Overseas business achieved operating revenue of RMB203 million, a year-on-year increase of 5.07%. Detailed Analysis of Key Business Segments 1. Digital Cost business: strong foundation with breakthrough growth in new business During the Reporting Period, the Digital Cost business continued its transition from single-position tools to comprehensive cost management application scenarios. The renewal rate and utilization rate of traditional cost estimation tools remained stable, while the cost calculation products deepened their penetration among major clients, leading to a continuous increase in their application rate. The growing demand for data services driven by customer business transformation has resulted in rapid growth in data-driven products such as Zhibiaowang and Procurement Recommendation Prices. Additionally, influenced by customers' increasing quality requirements for bidding processes and policy-driven factors, the bid evaluation business maintained rapid growth. During the Reporting Period, the coverage rate of individual-level indicators on Zhibiaowang increased from 53.78% to 79.25%, achieving 100% coverage of mainstream building types such as residential, office, and industrial facilities. This led to significant growth in application rates, customer satisfaction, and revenue. The bid evaluation product successfully transitioned to a SaaS model, achieving large-scale delivery and application. Enhanced by AI, its capabilities in bid document recognition and inspection improved significantly, demonstrating the product's value and driving rapid revenue growth. The cost calculation product underwent a value upgrade with the release of an "AI Intelligence" feature, improving accuracy to approximately 70% and reducing the time required for tasks from two days to one hour. The application rate among major clients continued to rise. On the marketing front, the Company successfully organized a cost management competition for construction enterprises, marking the first national competition in the cost management field. In collaboration with industry-leading experts, the Company established the first-ever digital cost management evaluation system for construction enterprises, promoting the industry's transition to refined cost management. The competition attracted 3,426 participating companies and empowered nearly 10,000 cost management professionals, driving comprehensive upgrades in cost management awareness, institutional systems, and digital empowerment across the construction industry. 2. Digital Construction business: clear transformation results and upgraded value of core products During the Reporting Period, the Company proactively adjusted its operational strategy, shifting its focus from pursuing scale to prioritizing profit and cash flow management. On the product side, the Company concentrated on key production factors such as materials, labor, and machinery, as well as core business management scenarios in the construction process, offering project-level standardized products and reducing the proportion of low-margin products. On the marketing side, the Company focused on core regions and key clients, strengthening penetration of single products among major clients and building regional strongholds, achieving breakthroughs in enterprise-level products with key clients. As a result, the operational quality and management level of the Company's construction business significantly improved during the Reporting Period. During the Reporting Period, the Company achieved a breakthrough in intelligent tower crane anti-collision technology, securing a leading position in product competitiveness within the industry. In material management, the Company launched its first self-developed smart hardware, the Intelligent Inspection All-in-One Machine, which integrates board-level components and combines multiple functions, significantly enhancing product cost-effectiveness and user experience. In labor management, the Company transitioned from closed attendance systems to mobile attendance systems, expanding into new application areas such as wage management and labor quotas, highlighting its differentiated competitive advantages. On the marketing front, through multi-dimensional marketing campaigns, the Company effectively disseminated thought leadership in digital construction, reaching approximately 35,000 enterprises and 140,000 individuals during the Reporting Period. This created a favorable market environment and laid the groundwork for the subsequent large-scale adoption of its products. 3. Digital Design business: significant benchmark achievements and enhanced integrated value During the Reporting Period, the Company focused on combining application scenarios to create benchmarks for integrated digital building measurement and digital road design-to-construction drawing solutions, validating the value of integration. It strengthened product R&D and promotion efforts, building marketing capabilities for large-scale deployment, thereby laying the foundation for further expanding the market share of its digital design products.
Full description
As a digital building platform service provider, Glodon is deeply rooted in the construction industry, offering digital software and hardware products, solutions, and related services that span the entire lifecycle of engineering projects. Glodon serves all participants across the global construction value chain, including developers, designers, consulting intermediaries, contractors, manufacturers, material suppliers, and building operators. With specialized applications for the construction sector as its core foundation, Glodon delivers comprehensive digital building lifecycle solutions, leveraging systematic digital capabilities to drive high-quality development in the industry. Focusing on the entire lifecycle of a project and the business value chain, the Company divides its operations into three main business segments and other ancillary services during the Reporting Period. The three primary business segments are Digital Design, Digital Cost, and Digital Construction. Other business activities include digital innovation units that provide productive services to upstream and downstream stakeholders of project success, such as Digital Education, Digital Supply & Procurement, Digital Finance, Digital Developer, Digital City, and Digital Industry Services. These activities are further divided into domestic and overseas businesses based on global regions. The Digital Cost business primarily serves various participants in construction project management by offering software products and services under a SaaS model that integrate tools and data. By leveraging industry AI, it empowers clients to achieve refined, full-process cost management efficiently. The Digital Cost business encompasses Glodon’s quantity takeoff product series, pricing product series, engineering data services (including Guangcaiwang (广材网: An engineering construction materials pricing platform that primarily provides customers with building material price information) and Zhibiaowang (指标网: A professional platform offering construction cost index information for cost estimators)), and engineering transaction products. Each product line closely follows industry developments and continuously enhances its service capabilities through deep specialization in subfields. Enabled by the Company's industry AI, the Digital Cost business has achieved automated multi-dimensional data subject mapping, significantly improving clients’ precision in cost management. The Digital Construction business focuses on the construction phase of engineering projects, providing construction enterprises with platform-based solutions that span project management to enterprise management through a “platform + modular components” approach. This business segment includes project-level products targeting core production elements of construction, such as material management, labor management, and smart hardware, as well as enterprise-level products and integrated project-enterprise management solutions. By harnessing IoT, big data, and AI technologies, the Digital Construction business enhances project quality and efficiency. The Digital Design business primarily serves design institutes, developers, and other clients by providing a proprietary three-dimensional forward-design platform and services. These solutions cover various design needs across different project phases, including conceptual design, detailed design, construction, and operations. The Digital Design business includes products tailored for building construction, such as Concetto, Digital Building Design, BIMMake, and BIMFace, as well as products for infrastructure projects, including Digital Road Design and BIMTwins. By implementing interoperable data standards across the entire process, it enables seamless cross-stage BIM data applications. Leveraging AI capabilities, it supports automated generation of conceptual design schemes and road alignment solutions, delivering high-quality digital products and solutions to clients. Other business segments primarily include Digital Industry Services, Digital Education, Digital Developer, Digital City, Digital Supply & Procurement, and Digital Finance. Digital Industry Services: Rooted in the construction sector, this business segment focuses on industry regulators, service providers, and other key stakeholders. By leveraging BIM, big data, AI, and 5G technologies, it delivers systematic digital solutions, fostering an efficient and intelligent industry governance digital ecosystem. These solutions drive the digital transformation of industry governance and enhance governance capabilities. Digital City: This business centers on building a City Information Modeling (CIM) platform as the digital foundation for twin cities, while also developing CIM+ applications. It provides integrated urban solutions for planning, construction, management, operations, smart ecosystems, and urban renewal. Digital Education: Focused on talent development within the construction industry, this segment aims to provide specialized educational services, enhancing both cognitive and technical skills for key roles. It streamlines the talent cultivation and supply chain, fostering a skilled workforce to support the industry's transformation, upgrading, and sustainable development. Digital Developer: Designed to meet the digitalization needs of construction developers, including new energy enterprises, urban investment platforms, and state-owned real estate developers, this segment focuses on the investment, development, and construction phases of new energy power stations and urban investment projects. It provides integrated digital solutions at both enterprise and project levels. Digital Supply & Procurement: This business deeply integrates digital technology with the construction materials supply chain, leveraging Pingfangwang (平方网: A leading building materials trading and service platform in the construction industry) to connect suppliers and buyers. It provides sourcing, supplier recruitment, procurement price comparison, and supplier evaluation services, along with digital procurement applications for construction enterprises. Additionally, it offers smart marketing solutions for a vast network of construction material suppliers across four key business scenarios: market insights, brand promotion, product marketing, and targeted customer acquisition. Meanwhile, leveraging Glodon's professional expertise and advanced technologies, it provides the industry with a one-stop smart hardware marketplace tailored for the construction sector. Digital Finance: It is driven by the core needs of broad-based financial clients for deep industry, enterprise, and project-level insights and operational transparency. Centered on the construction project lifecycle, it leverages industry and digital data as its foundation and aligns project progress with cash flow as its primary framework. This enables the development of a digital financial services platform for the construction industry. Through financial and insurance scenarios, the business delivers industry-specific digital financial risk control services and comprehensive digital solutions via technology-driven services. In terms of overseas operations, the Company provides end-to-end solutions covering design, performance analysis, cost management, and construction to global design institutes, consulting firms, and construction enterprises. Key products include the MagiCAD Innova series for the design phase, the CubiCost series for the cost management phase, and the GSite series for the construction phase.