MXEP(SH:600101) Zheng Quan Ri Bao Zhi Sheng·2025-03-28 11:41Core Viewpoint - Sichuan Mingyang Electric Power Co., Ltd. reported a record high revenue of 2.842 billion yuan in 2024, with a year-on-year growth of 6.6%, and a net profit of 209 million yuan, up 16.72% year-on-year, indicating strong financial performance and growth potential in the energy sector [1]. Financial Performance - The company achieved a revenue of 2.842 billion yuan in 2024, marking a 6.6% increase compared to the previous year [1]. - The net profit attributable to shareholders reached 209 million yuan, reflecting a year-on-year growth of 16.72% [1]. - The company plans to distribute a cash dividend of 1.2 yuan per 10 shares (tax included) to all shareholders [1]. - Since 2021, the net profit has shown consistent growth, with increases of 76.06% in 2021, 29.12% in 2022, and 12.66% in 2023 [1]. Business Operations - The company has a comprehensive hydropower supply network and offers stable public service products, which ensures predictable cash flow and steady demand [1]. - The revenue from electricity products was approximately 2.52 billion yuan in the previous year, with a year-on-year growth of 13.68%, accounting for 88.65% of total revenue [1]. - The gross margin for electricity products increased by 0.76 percentage points year-on-year [1]. Infrastructure Development - In 2024, the company continued to enhance the quality and efficiency of its power grid, completing several key projects including the construction of new substations and upgrades to existing ones [2]. - By the end of 2024, the company operated 19 substations at 110 kV and 20 at 35 kV, with a total capacity of 2.3989 million kVA, serving 751,200 electricity users [2]. - The company also owns four hydropower stations with a total installed capacity of approximately 115.6 MW [2]. Future Outlook - For 2025, the company aims to strengthen safety production measures and upgrade its power network, focusing on several key projects to ensure stable operational growth [3].