HANGZHOU ZHONGHENG(002364)2025-04-21 11:50Financial Performance - The company's operating revenue for 2024 reached ¥1,961,925,008.01, representing a 26.13% increase compared to ¥1,555,439,583.34 in 2023[20]. - Net profit attributable to shareholders for 2024 was ¥109,629,757.86, a significant increase of 178.52% from ¥39,361,747.82 in 2023[20]. - The net profit after deducting non-recurring gains and losses was ¥83,128,828.93, up 322.09% from ¥19,694,671.69 in 2023[20]. - Cash flow from operating activities for 2024 was ¥468,472,705.36, a 97.80% increase from ¥236,842,111.54 in 2023[20]. - Basic earnings per share for 2024 were ¥0.20, reflecting a 185.71% increase from ¥0.07 in 2023[21]. - Total assets at the end of 2024 amounted to ¥3,785,446,761.95, a 14.64% increase from ¥3,302,020,502.47 at the end of 2023[21]. - Net assets attributable to shareholders at the end of 2024 were ¥2,430,378,262.72, up 5.38% from ¥2,306,374,702.98 at the end of 2023[21]. - The company achieved a revenue of 1.962 billion yuan, representing a year-on-year increase of 26.13%[80]. - Net profit attributable to shareholders reached 109.63 million yuan, a year-on-year growth of 178.52%[80]. - The data center power business generated a revenue of 668 million yuan, marking a significant increase of 111.05% year-on-year[80]. Business Operations - The company has not reported any changes in its main business operations since its listing, maintaining its focus on high-frequency power supply equipment and related technologies[17]. - The company has expanded its business scope to include electric vehicle charging infrastructure and energy management services[19]. - The company is focusing on high-voltage direct current (HVDC) solutions to enhance power supply efficiency in intelligent computing centers, addressing the rising power density challenges[41]. - The company is a leading manufacturer of electric vehicle charging stations, with a comprehensive product range including DC fast chargers and liquid-cooled supercharging systems[65]. - The company successfully launched a 720kW liquid-cooled supercharging system in collaboration with a major automotive client, establishing a megawatt-level charging station in Wuhan[66]. - The company is focusing on optimizing its product structure and enhancing its core products to ensure sustainable growth[83]. Market and Industry Trends - The global computing power scale reached 1,397 EFlops in 2023, with a growth rate of 54%, and is expected to exceed 16 ZFlops by 2030[32]. - China's computing power scale reached 280 EFlops in 2024, with intelligent computing power accounting for 90 EFlops, representing 32% of the total[34]. - The annual growth rate of data center electricity consumption is projected to be around 20% from 2024 to 2030, significantly outpacing overall electricity consumption growth[38]. - By December 2024, the total number of 5G base stations is expected to reach 4.251 million, an increase of 874,000 from the previous year, marking the maturity of 5G network construction[43]. - In 2024, the newly installed capacity of wind and solar power reached 358 million kilowatts, accounting for 82.6% of the total new energy installed capacity, with cumulative installed capacity surpassing coal power for the first time[46]. Research and Development - Research and development expenses increased by 8.55% to ¥159,827,129.81 compared to the previous year[99]. - R&D personnel increased to 602 in 2024, up 3.44% from 582 in 2023[102]. - The company completed the development of several new products, including a next-generation ultra-efficient data center power supply and an intelligent modular communication power monitoring system, all ready for mass production[100][101]. - The company is committed to a digital energy industry strategy, focusing on data centers and intelligent computing centers, while increasing R&D investment to support diversified business development[82]. Corporate Governance - The company held two shareholder meetings during the reporting period, ensuring equal treatment of all shareholders and maintaining their rights[139]. - The board of directors convened three times, with independent directors constituting over one-third of the board, enhancing decision-making efficiency[139]. - The supervisory board also met three times, fulfilling its oversight responsibilities regarding the legality and compliance of the board and management actions[140]. - The company maintained a fully independent asset structure, with no instances of asset or fund occupation by the controlling shareholder[141]. - The company has an independent financial department and accounting system, ensuring autonomous financial decision-making and tax compliance[142]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions and promote sustainable development, as detailed in the ESG report[190]. - The company is committed to building a more efficient, intelligent, and secure digital energy ecosystem in collaboration with partners[122]. - The company has no major environmental issues or violations during the reporting period[189]. Future Outlook - The company plans to distribute a cash dividend of 1 RMB per 10 shares (including tax) to all shareholders, pending approval at the 2024 annual general meeting[5]. - The company aims to enhance its market competitiveness through the development of intelligent solutions and new energy integration strategies[100][101]. - The company plans to continue expanding its market presence and developing new technologies[1]. - The company aims to achieve "zero failure, zero engineering, and zero loss" in its data center power business, focusing on high-efficiency and high-reliability third-generation HVDC products to meet the growing power density demands of intelligent computing centers[123].