Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company reported a total operating revenue of 4.479 billion yuan in 2024, a decrease of 5.25% year-on-year, and a net profit attributable to shareholders of -250 million yuan, down 141.44% year-on-year [2] - The core business restructuring is showing effectiveness, with energy internet driving growth resilience despite a significant decline in net profit [3] - The energy internet business has achieved breakthroughs in three areas: market-based electricity trading, charging service ecosystem, and virtual power plant [4] - The energy digitalization business faced pressure but has long-term potential driven by policy and demand [5] - The company is transitioning from traditional project-based software services to a platform-based energy operation model, focusing on AI and energy integration [6] Financial Summary - The company adjusted its revenue forecast for 2025 from 8.948 billion yuan to 5.118 billion yuan, with net profit forecasted at 542 million yuan for 2025 [8] - The projected earnings per share (EPS) for 2025 is adjusted to 0.50 yuan, with corresponding price-to-earnings ratios (PE) of 28.25, 23.24, and 19.56 for 2025, 2026, and 2027 respectively [8][10] - The company expects a recovery in net profit with a forecast of 316.5% growth in 2026 and 21.6% in 2027 [10]

Core Viewpoint - Langxin Group is focusing on energy digitalization and energy internet strategies, optimizing its business structure by divesting non-core operations and aiming to become a leading technology-driven energy enterprise [2][9]. Group 1: Company Strategy - The company has completed the restructuring of non-core businesses such as set-top boxes and is now concentrating on energy digitalization and energy internet development [2]. - Langxin Group aims to leverage the integration of digitalization, intelligence, and energy technology to enhance the new power system and energy internet [2]. - The company is transitioning from project-driven to platform-driven operations, emphasizing innovation in I technology and green development [2]. Group 2: Financial Performance - In Q1 2025, the company reported revenues of 667 million, remaining flat year-on-year, but showing a 10% increase when excluding non-core business impacts [3]. - The gross profit margin reached 48%, indicating a significant improvement in business structure post-strategy focus [3]. - Net profit for Q1 2025 was 3.37 million, reflecting a year-on-year increase of approximately 118% [3]. Group 3: Energy Internet Development - The "New Electric Path" platform has expanded its network, with over 1.7 million charging devices and more than 20 million registered users by the end of the reporting period [4]. - The virtual power plant business has seen significant growth, with over 10 GW of new connections to the photovoltaic cloud platform [4]. - The company's electricity trading business exceeded 700 million kWh in Q1 2025, more than doubling year-on-year [4]. Group 4: Market Opportunities - The ongoing electricity market reform in China presents historical opportunities for platform-based trading, with new policies supporting high-quality development in the energy sector [5]. - The company is expanding its electricity trading business across 11 provinces, anticipating accelerated growth as new energy enters the market [6]. - Langxin Group is enhancing its service offerings in various energy scenarios, including life payment and distributed photovoltaic services, to optimize resource allocation and support market development [9]. Group 5: Future Outlook - The company plans to continue expanding its user base and charging network, particularly in third to fifth-tier cities, to capture the growing public charging market [8]. - New value-added services such as charging insurance and battery health monitoring are being developed to enhance profitability [8]. - The company is focused on leveraging IoT and big data for precise load forecasting and efficient supply-demand matching to drive growth in its energy internet platform [6].

Group 1: Company Strategy and Focus - The company is committed to optimizing and restructuring non-core businesses, including the divestment of TV set-top boxes and digital city projects, to focus on energy digitalization and energy internet strategies [2][3] - The strategic shift aims to transition from project-driven to AI-driven operations, enhancing efficiency and sustainability in energy management and electricity trading [3] Group 2: Financial Performance - In Q1 2025, the company reported revenue of 667 million, remaining stable year-on-year, with a 10% increase when excluding non-core business impacts [3] - The gross profit margin reached 48%, indicating a significant improvement, while net profit was 3.37 million, reflecting a 118% year-on-year growth [3] Group 3: Energy Digitalization and Internet Development - The company is actively deploying AI and energy management solutions, with a focus on new power systems and marketization, expecting significant revenue and profit contributions in the second half of the year [3] - The "New Electric Path" platform has over 1.7 million charging devices and more than 20 million registered users, indicating substantial growth in user engagement and service coverage [4] Group 4: Future Growth and Market Opportunities - The company anticipates accelerated growth in electricity trading due to ongoing market reforms and the introduction of new policies aimed at enhancing renewable energy integration [4] - Plans to expand the charging network and user base, particularly targeting private car owners, are in place to capitalize on the growing demand for public charging services [5]

2024 LongShine Technology Group Co., Ltd. Environmental, Social and Governance (ESG) Report Contents | About This Report | 01 | | --- | --- | | Message from the Chairman | 03 | | About LongShine Group | 05 | | ESG Management | 13 | | Looking Ahead | 87 | | --- | --- | | Appendix | 89 | 01 02 Smart Energy, Leading the Future | Empowering Energy Innovation Through | 19 | | --- | --- | | Digital and Intelligent Technology | | | Driven by Innovation, Advancing with | 21 | | Determination | | | Responsible Busin ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating that the stock price is expected to outperform the benchmark by more than 15% [8]. Core Views - The company has focused its strategy on core businesses, with new opportunities arising from AI and electricity trading [1]. - In 2024, the company reported total revenue of 4.479 billion yuan, a decrease of 5.24% year-on-year, and a net profit attributable to shareholders of -250 million yuan, compared to 604 million yuan in the previous year [1][2]. - The company has divested non-core businesses, leading to a significant one-time financial impact of approximately 488 million yuan due to goodwill and inventory impairment [1]. - The energy digitalization business generated revenue of 2.147 billion yuan, down 7.51% year-on-year, primarily due to the restructuring process [1]. - The energy internet business achieved revenue of 1.804 billion yuan, an increase of 17.63% year-on-year, driven by rapid growth in electricity market trading and AI applications [1]. Financial Summary - The company expects to see a recovery in net profit, projecting earnings per share (EPS) of 0.49, 0.61, and 0.73 yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings (P/E) ratios of 29.24, 23.47, and 19.74 [2][3]. - The overall revenue is projected to grow to 5.113 billion yuan in 2025, reflecting a year-on-year growth rate of 14.1% [2]. - The gross profit margin is expected to improve from 41.3% in 2024 to 45.6% by 2027 [2]. Business Developments - The company has established an AI research institute to enhance its "AI + Energy" strategy, focusing on AI platform development and predictive modeling [1]. - The company has expanded its charging aggregation and utility payment services, with over 500 million users on its platform and daily active users nearing 20 million [1]. - The charging business has entered a high-quality growth phase, achieving an annual charging volume of 5.2 billion kWh, with over 1.8 million registered users [1].

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a focus on maintaining steady growth while exploring new business opportunities, suggesting a positive outlook for future performance [1][2]. Core Insights - The company reported a total revenue of 4.479 billion yuan in 2024, a decrease of 5.24% year-on-year, and a net profit attributable to shareholders of -250 million yuan, compared to 604 million yuan in the previous year [1]. - The company has divested from non-core businesses, focusing on energy digitalization and energy internet, with energy digitalization revenue at 2.147 billion yuan, down 7.51% year-on-year, while energy internet revenue grew by 17.63% to 1.804 billion yuan [1]. - The company has made significant advancements in AI-assisted electricity trading, achieving an annual trading volume exceeding 1.9 billion kWh, a year-on-year increase of over 500% [1]. - The company’s life payment platform serves over 500 million users, with daily active users nearing 20 million, and the aggregation charging business has reached a charging volume of 5.2 billion kWh [1]. Financial Summary - The company’s total revenue for 2023 was 4.727 billion yuan, with a projected increase to 5.113 billion yuan in 2025, reflecting a growth rate of 14.1% [2]. - The net profit attributable to shareholders is expected to recover from -250 million yuan in 2024 to 532 million yuan in 2025, indicating a significant turnaround [2]. - The gross margin is projected to improve from 41.3% in 2024 to 45.6% by 2027, showcasing enhanced operational efficiency [2]. - The earnings per share (EPS) is forecasted to rise from -0.23 yuan in 2024 to 0.73 yuan in 2027, reflecting a positive growth trajectory [2].

Financial Performance - The company reported a basic earnings per share of 0.0031 yuan for Q1 2025, a significant increase of 117.22% compared to a loss of 0.0180 yuan in Q1 2024 [1] - Net profit for Q1 2025 was 0.03 billion yuan, a turnaround from a loss of 0.19 billion yuan in Q1 2024, reflecting a growth of 115.79% [1] - The return on equity (ROE) improved to 0.05% in Q1 2025 from -0.25% in Q1 2024, marking a 120% increase [1] - Total revenue for Q1 2025 was 6.67 billion yuan, slightly down by 0.15% from 6.68 billion yuan in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 56,566.22 million shares, accounting for 54.7% of the circulating shares, with an increase of 689.35 million shares from the previous period [2] - The largest shareholder, Wuxi Puhua Equity Investment Partnership, holds 12.22% of the total share capital, with no change in their holdings [2] - Hong Kong Central Clearing Limited increased its holdings by 1,502.05 million shares, now holding 4.26% of the total share capital [2] Dividend Policy - The company has decided not to distribute dividends or bonus shares this time [3]

Group 1 - The core viewpoint of the news is that Langxin Group reported stable revenue with significant profit growth in Q1, driven by its focus on energy digitization and the energy internet strategy [1] - In Q1, the company achieved total revenue of 667 million yuan, which is approximately flat year-on-year, while the net profit attributable to shareholders increased by 117.53% to 3.37 million yuan [1] - The energy digitization business showed steady growth, with the company actively deploying in areas such as AI, load control, new energy management, and electricity marketization [1] Group 2 - The energy internet business of Langxin Group continued to develop rapidly, with the "New Electric Path" charging platform expanding its network and user connections while significantly reducing operational losses year-on-year [1] - The virtual power plant business saw new access to distributed photovoltaic exceeding 10 GW, and breakthroughs in centralized power station agency trading [1] - The scale of the electricity trading business exceeded 700 million kWh, achieving more than double year-on-year growth due to the continuous application of AI trading models [1] Group 3 - Langxin Group's ESG report highlights its strategy of "Digital Technology Promoting Green Low-Carbon Development," showcasing progress in technology energy, innovation leadership, responsible management, employee benefits, and social contributions [2] - The company aims to continue driving AI technology innovation and expanding the energy internet platform to promote smarter and greener electricity services [2]

朗新科技集团股份有限公司 证券代码：300682 证券简称：朗新集团 公告编号：2025-030 朗新科技集团股份有限公司 第四届监事会第二十二次会议决议公告 本公司及监事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 朗新科技集团股份有限公司（以下简称"公司"）第四届监事会第二十二次 会议已于 2025 年 4 月 25 日在无锡市新吴区净慧东道 118 号朗新科技产业园以 现场结合通讯方式召开，会议应到监事 3 名，实到监事 3 名，符合《中华人民 共和国公司法》（以下简称《公司法》）与《朗新科技集团股份有限公司章程》（以 下简称《公司章程》）的规定。 经审核，监事会认为：董事会编制和审核公司 2025 年第一季度报告的程序 符合法律、法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了 公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：同意 3 票；反对 0 票；弃权 0 票。 详细内容参见中国证券监督管理委员会指定创业板信息披露网站上的相关 公告。 特此公告。 朗新科技集团股份有限公司 监事会 2025 年 4 月 25 日 1 会议根 ...

朗新科技集团股份有限公司 会议根据《公司法》与《公司章程》的规定，全体董事审议通过如下决议： 一、审议通过《关于<2025 年第一季度报告>的议案》 表决结果：赞成票 8 票，反对票 0 票，弃权票 0 票。 证券代码：300682 证券简称：朗新集团 公告编号：2025-029 朗新科技集团股份有限公司 第四届董事会第三十二次会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 朗新科技集团股份有限公司（以下简称"公司"）第四届董事会第三十二次 会议已于 2025 年 4 月 25 日在无锡市新吴区净慧东道 118 号朗新科技产业园以 现场结合通讯方式召开，会议通知于 2025 年 4 月 22 日以邮件方式发出。会议 应出席董事 8 名，实际出席董事 8 名。本次会议的召开符合《中华人民共和国 公司法》（以下简称《公司法》）《中华人民共和国证券法》及《朗新科技集团 股份有限公司章程》（以下简称《公司章程》）规定。本次董事会决议合法有效。 1 详细内容参见中国证券监督管理委员会指定创业板信息披露网站上的相关 公告。 特此公告。 朗新科技集团股份有限公司 ...