Investment Rating - The investment rating for the company is "Buy" [7] Core Views - The company reported a strong performance in Q4 2024, with a revenue of 1.85 billion yuan, up 25.42% year-on-year, and a net profit of 0.40 billion yuan, up 24.52% year-on-year [2] - The company's revenue for the full year 2024 is projected to be 5.50 billion yuan, representing a year-on-year growth of 20.50% [1] - The growth foundation is supported by the power prediction business, which is expected to continue driving revenue growth [5] Financial Performance - In Q4 2024, the company's net profit attributable to the parent company reached 0.40 billion yuan, with a year-on-year increase of 24.52% [2] - The company's annual net profit for 2024 is expected to be 0.94 billion yuan, reflecting an 11.09% increase compared to the previous year [1] - The company’s revenue from power prediction products in 2024 is expected to be 3.09 billion yuan, up 15.55% year-on-year [3] Business Growth Drivers - The company is benefiting from the ongoing electricity reform process, which is expected to release continuous demand for power trading [4] - The number of service stations has increased significantly, with a year-on-year growth of 21.03%, reaching 4,345 by the end of 2024 [3] - The company is actively promoting innovative product lines, achieving a revenue of 30.81 million yuan in 2024, which is a 23.93% increase year-on-year [4] Profit Forecast - The forecast for net profit attributable to the parent company for 2025-2027 is 1.20 billion yuan, 1.50 billion yuan, and 1.90 billion yuan, respectively, with year-on-year growth rates of 29%, 26%, and 26% [5]

Core Insights - The company reported a revenue of 550 million yuan for 2024, representing a year-on-year growth of 20.50%, and a net profit attributable to shareholders of 93.59 million yuan, up 11.09% year-on-year [1] - The renewable energy sector continues to grow, with total installed capacity reaching 3.35 billion kilowatts, a 14.6% increase, and renewable energy accounting for 56% of total generation capacity [2] - The company maintains a leading position in power prediction services, with 4,345 renewable energy stations using its services, reflecting a net increase of 755 stations, or 21.03% year-on-year [3] Financial Performance - Revenue for the reporting period was 550 million yuan, with a net profit of 93.59 million yuan and a non-recurring net profit of 82.43 million yuan, showing growth rates of 20.50%, 11.09%, and 15.67% respectively [1] - Sales expenses, management expenses, and R&D expenses were 145 million yuan, 46.68 million yuan, and 85.32 million yuan, with year-on-year changes of +23.01%, +8.48%, and -2.40% respectively [1] - Financial expenses increased significantly by 80.02% due to reduced bank interest income and increased interest expenses on lease liabilities and loans [1] Industry Trends - The total installed capacity of renewable energy reached 1.889 billion kilowatts, a 25% increase, with solar power capacity growing by 45.2% and wind power capacity by 18% [2] - New grid-connected solar power capacity added in 2024 was 27.757 million kilowatts, a 28% increase, with centralized solar power contributing 15.939 million kilowatts and distributed solar power 11.818 million kilowatts [2] Product Development - The company’s power prediction product revenue was 309.47 million yuan, a 15.55% increase, with power prediction equipment revenue at 78.73 million yuan, up 22.94% [3] - The company expanded its distributed grid integration terminal product sales to multiple provinces, achieving a revenue of 123.95 million yuan, a 28.01% increase [4] - The company is focusing on innovative product lines, particularly in electricity trading, microgrids, and virtual power plants, which are expected to drive future growth [4] Future Outlook - The company anticipates continued growth in revenue and net profit from 2025 to 2027, projecting revenues of 695 million yuan, 895 million yuan, and 1.17 billion yuan, with net profits of 133 million yuan, 160 million yuan, and 179 million yuan respectively [5] - The company maintains a "buy" rating based on the positive outlook for the industry and its product performance [5]

Investment Rating - The report maintains a "Recommended" rating for the company [7][11]. Core Insights - The company achieved a revenue of 550 million yuan in 2024, representing a year-on-year growth of 20.50%, and a net profit attributable to shareholders of 94 million yuan, up 11.09% year-on-year [4]. - In Q4 2024, the company reported a revenue of 185 million yuan, a 25.42% increase year-on-year, and a net profit of 40 million yuan, growing 24.52% year-on-year [4]. - The company has a strong market position with 4,345 serviced renewable energy stations, an increase of 755 stations from the beginning of the year, showcasing its leading market share in power forecasting services [5]. - The introduction of the "Four Available" management requirements for distributed power stations is expected to drive market demand, providing significant new business opportunities for the company [6]. Summary by Sections Financial Performance - The company forecasts revenues of 726 million yuan in 2025, 905 million yuan in 2026, and 1,114 million yuan in 2027, with respective growth rates of 32.1%, 24.6%, and 23.2% [12]. - The net profit attributable to shareholders is projected to be 123 million yuan in 2025, 167 million yuan in 2026, and 228 million yuan in 2027, with growth rates of 31.2%, 35.7%, and 36.7% respectively [12]. Business Development - The company is expanding its product offerings in power trading, virtual power plants, and energy management systems, leveraging AI technologies to enhance its service capabilities [8][10]. - The company has developed a new AI model, "Kuangming," which significantly improves the accuracy and efficiency of power forecasting and is being applied across multiple product lines [10]. Market Opportunities - The company is well-positioned to benefit from the ongoing reforms in the electricity market, which are expected to create long-term growth opportunities in its core and innovative business segments [11].

[Table_Author] 分析师：吕伟 分析师：郭新宇 邮箱：lvwei_yj@mszq.com 邮箱：guoxinyu@mszq.com 国能日新（301162.SZ）2024 年年报点评 分布式业务打开成长空间，AI 赋能加速创新业务拓展 2025 年 04 月 14 日 执业证号：S0100521110003 执业证号：S0100518120001 ➢ 事件概述：2025 年 4 月 11 日公司发布 2024 年年报，报告期内公司实现 营业收入 5.5 亿元，同比增长 20.50%；实现归属于上市公司股东的净利润 0.94 亿元，同比增长 11.09%。 ➢ 2024Q4 收入、利润均强势增长，功率预测等核心业务优势稳固。收入端， 2024Q4 公司收入达到 1.85 亿元，同比增长 25.42%；归母净利润 0.40 亿元， 同比增长 24.52%；扣非归母净利润 0.39 亿元，同比增长 38.11%。 分业务看，2024 年全年新能源发电功率预测产品收入 3.1 亿元，同比增长 15.55%；新能源并网智能控制产品收入 1.2 亿元，同比增长 28.01%。 公司在市场覆盖、技术实力和创新能 ...

公 司 报 告 计算机 2025年04月14日 国能日新(301162.SZ) 公司业绩实现稳健增长，功率预测业务根基持续稳固 推荐 ( 维持) 股价:56.27元 行情走势图 证券分析师 | 闫磊 | 投资咨询资格编号 | | --- | --- | | | S1060517070006 | | | YANLEI511@pingan.com.cn | 研究助理 王佳一 一般证券从业资格编号 S1060123070023 WANGJIAYI446@pingan.com.cn | | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入(百万元) | 456 | 550 | 720 | 949 | 1,261 | | YOY(%) | 26.9 | 20.5 | 31.0 | 31.8 | 32.9 | | 净利润(百万元) | 84 | 94 | 122 | 159 | 210 | | YOY(%) | 25.6 | 11.1 | 30.0 | 31.1 | 31.8 | | 毛利率(%) | ...

Investment Rating - The report maintains a positive investment outlook for the solar, wind, and energy storage sectors, highlighting strong demand and technological advancements [2][3][4]. Core Insights - The solar and energy storage sectors are expected to benefit from domestic demand support and supply discipline, with profitability in overseas battery and material production remaining strong [2][3]. - Wind power demand is projected to remain robust, with a significant increase in new bids for wind turbines in Q1, indicating sustained growth through 2026 [2][3]. - The development of virtual power plants is gaining momentum, with government guidance aimed at enhancing their scale and operational models [2][3][4]. Summary by Relevant Sections Solar & Energy Storage - The shift from large-scale solar projects to distributed generation is emphasized, with domestic demand and supply discipline expected to strengthen [2][3]. - Longi Green Energy launched its second-generation BC products, improving module efficiency and bifacial rates [2][3]. - The report notes that recent policy changes and market dynamics suggest a favorable environment for solar demand in the second half of the year [7][8]. Wind Power - In Q1, state-owned enterprises added 26.2 GW of new wind power capacity, a 32% year-on-year increase, reinforcing the outlook for sustained demand through 2026 [2][3]. - The report highlights the strategic value of offshore wind projects amid increasing trade tensions and domestic demand expectations [2][3]. Grid and Virtual Power Plants - The National Development and Reform Commission and the Energy Administration have issued guidelines to accelerate the development of virtual power plants, aiming for significant capacity increases by 2027 [2][3][4]. - The report indicates that the first batch of procurement agreements in the North China region has been announced, with a focus on long-term vendor capabilities [2][3][4]. New Energy Vehicles & Lithium Batteries - BYD's Q1 profit forecast indicates strong performance driven by increased exports and effective cost management [3][4]. - CATL has received approval for its Hong Kong listing, with plans to raise at least $5 billion for overseas capacity expansion [3][4]. Hydrogen and Fuel Cells - The report discusses the development of a "hydrogen corridor" in the western region, aiming to create a comprehensive hydrogen supply chain [5][10]. - The anticipated sales of hydrogen vehicles are projected to exceed 10,000 units by 2025, supported by infrastructure developments [5][10].

2025年4月12日，国能日新(301162.SZ)发布2024年年度报告。截至2025年4月11日，共有75个机构投资 者披露持有国能日新A股股份，合计持股量达2278.99万股，占国能日新总股本的22.76%。其中，前十 大机构投资者包括安义厚源广汇投资合伙企业(有限合伙)、财通创新投资有限公司、基本养老保险基金 二一零一组合、基本养老保险基金二一零一组合、中国平安人寿保险股份有限公司-投连-个险投连、中 国平安人寿保险股份有限公司-投连-个险投连、中国建设银行股份有限公司-华夏新兴经济一年持有期混 合型证券投资基金、中国建设银行股份有限公司-中欧新蓝筹灵活配置混合型证券投资基金、博时创新 经济混合A、华商新趋势优选混合，前十大机构投资者合计持股比例达19.00%。相较于上一季度，前十 大机构持股比例合计下跌了0.90个百分点。 公募基金方面本期较上一季度持股减少的公募基金共计1个，即华商新趋势优选混合，持股减少占比小 幅下跌。本期较上一季度新披露的公募基金共计68个，主要包括华夏新兴经济一年持有混合A、中欧新 蓝筹混合A、博时创新经济混合A、华商优势行业混合、新华鑫动力灵活配置混合A等。本期较上一季 未 ...

Core Viewpoint - The company, Guoneng Rixin, has reported a significant growth in revenue and net profit for the year, driven by its focus on the renewable energy sector and the increasing demand for its power prediction and management services [5][14][34]. Financial Performance - The company achieved an operating income of 549.76 million yuan, representing a year-on-year increase of 20.50% [5]. - The net profit attributable to shareholders was 93.59 million yuan, reflecting an 11.09% increase compared to the previous year [5]. - The company's main business, power prediction services, generated revenue of 309.47 million yuan, up 15.55% year-on-year [14]. Business Overview - Guoneng Rixin specializes in software and information technology services for the renewable energy industry, focusing on power prediction and management systems [5][34]. - The company has maintained a strong growth in its customer base, with a net increase of 755 new power station users, a 21.03% year-on-year growth, bringing the total to 4,345 users [7]. Product Development - The company has launched the "Kuangming" renewable energy model, which significantly enhances the accuracy and efficiency of power prediction compared to traditional methods [8][38]. - Continuous investment in meteorological technology and algorithm development has strengthened the company's core capabilities in power prediction [8]. Market Trends - The demand for high-precision power prediction services is expected to grow due to the increasing integration of renewable energy sources into the grid and the implementation of new regulatory standards [35][36]. - The introduction of the "Four Available" management requirements for distributed photovoltaic systems is anticipated to further drive market demand for the company's services [35][36]. Strategic Initiatives - The company is actively expanding its product offerings in energy management systems, virtual power plants, and energy trading products to align with market needs and regulatory changes [23][27][32]. - Guoneng Rixin is pursuing strategic investments in upstream and downstream companies within the renewable energy sector to enhance its market position and operational capabilities [32].

| 代码 | 简称 | 每10股送转 | 每10股派现 | 派现金额（万 | | 派现占净利润比例 | 股息率 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | （股） | （元） | 元） | | （%） | （%） | | 600845 | 宝信软 件 | 0.00 | 6 | 173028.23 | 76.38 | | 1.83 | | 300033 | 同花顺 | 0.00 | 30 | 161280.00 | 88.46 | | 1.50 | | 002236 | 大华股 份 | 0.00 | 4.58 | 150190.01 | 51.69 | | 2.68 | | 002920 | 德赛西 威 | 0.00 | 12 | 66593.92 | 33.22 | | 1.12 | 4月11日国能日新发布2024年度分配预案，拟10转增2派4.7元（含税），预计派现金额合计为4708.68万 元。派现额占净利润比例为50.31%，这是公司上市以来，累计第4次派现。 公司上市以来历次分配方案一览 | 日期 | 分配方案 | 派现金额合计（ ...

对于2024年的业绩增长原因，国能日新披露，受益于2024年新能源光伏组件及风机整机价格维持低位等 因素影响，下游新能源新增并网装机规模依旧保持良好增长态势，公司新能源功率预测业务在存量客户 服务费规模稳步增长。新能源并网智能控制产品方面，公司日臻完善原有产品功能，持续推进分布式融 合终端产品升级推广；公司并网智能控制产品收入较上年增长28.01%。 面对未来的公司业绩的增长前景，国能日新披露会受以下五点因素驱动，一是，长期来看，新能源行业 长效发展及电力市场化改革的持续推进将驱动公司业绩保持稳健增长；二是，短期来看，分布式电 站"四可"管理要求的普及将拉动市场需求；三是，客户数量的持续提升确保公司服务费规模的快速稳健 增长；四是，创新性技术的研发应用将全面巩固并深化公司业务优势；五是，新产品的持续创新打开公 司主业的二次成长曲线。 （文章来源：证券日报） 本报讯 （记者贺王娟）4月11日，国能日新科技股份有限公司（以下简称"国能日新"）发布2024年年度 报告。报告显示，报告期内，公司实现营业收入54975.79万元，同比增长20.50%；实现归属于上市公司 股东的净利润9358.84万元，同比增长11.0 ...