Core Viewpoint - Shandong High New Energy Group has reported a solid performance for the year 2024, showcasing growth in both solar and wind energy sectors, supported by strong financial management and a favorable credit rating [1][4]. Financial Performance - The company achieved a revenue of 4.423 billion RMB, with an EBITDA of approximately 3.672 billion RMB, reflecting a year-on-year increase of about 1% [1]. - Net profit reached approximately 463 million RMB, marking a year-on-year growth of about 32% [1]. - Cash and cash equivalents stood at around 3.646 billion RMB, with a current ratio of 1.87 [1]. - Financial expenses decreased by approximately 16% to about 1.147 billion RMB, while the debt-to-asset ratio improved to around 60%, down about 5% from the previous year [1]. Business Development - The company is focusing on both centralized and distributed solar projects, enhancing its market penetration and operational scale [3]. - As of December 31, 2024, the total operational power generation reached approximately 6.52 billion kWh, a year-on-year increase of 4.6% [2]. - The clean heating area expanded to 35.321 million square meters, with a 4% increase in service households reaching 211,144, up 6.4% year-on-year [2]. Strategic Initiatives - The company has secured significant wind power project bids, including 375 MW of centralized wind power in Shandong and 1 GW in Xinjiang, further solidifying its market position [3]. - New business models are being explored, such as "offshore wind power + marine ranching," aiming for breakthroughs in offshore wind projects [3]. Credit Rating and ESG Performance - The company received an AAA long-term credit rating with a stable outlook from a top domestic rating agency, reflecting its strong operational performance and asset structure [4]. - ESG ratings improved, with a score of 75 from Fitch and a 41 from S&P Global, indicating enhanced sustainability practices [4]. Future Outlook - The company aims to accelerate the implementation of green energy projects and optimize its business structure in alignment with national carbon neutrality goals [5]. - Plans include deepening the integration with Shandong High-speed Group's ecosystem and exploring new models in energy digitalization [5].
山高新能源集团公告2024年全年业绩：风光齐进布局升级 评级跃升稳健前行