新联电子2024年业绩显著提升，盈利能力大幅增强

Overall Performance - The total operating revenue of Xunlian Electronics reached 767 million yuan in 2024, a year-on-year increase of 23.94% [1] - The net profit attributable to shareholders was 267 million yuan, a significant increase of 330.77% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 134 million yuan, up 44.03% year-on-year [1] - In Q4, the operating revenue was 214 million yuan, a year-on-year increase of 27.65%, and the net profit attributable to shareholders was 164 million yuan, up 423.82% year-on-year [1] Profitability - The company's gross margin improved to 35.79%, an increase of 9.58 percentage points year-on-year [2] - The net profit margin reached 34.55%, a significant increase of 260.05 percentage points year-on-year [2] Cost Control - Total sales, management, and financial expenses amounted to 58.91 million yuan, accounting for 7.68% of revenue, a decrease of 20.46% year-on-year [3] - Financial expenses decreased by 28.44%, primarily due to increased interest income [3] Cash Flow Situation - The net cash flow from operating activities significantly improved, with operating cash flow per share at 0.3 yuan, a year-on-year increase of 4346.40% [4] - The decrease in cash flow from investing activities by 287.17% led to a 24.44% reduction in cash and cash equivalents [4] Asset and Liability Situation - As of the end of 2024, the company's cash and cash equivalents were 275 million yuan, and accounts receivable were 195 million yuan, a year-on-year increase of 52.61% [5] - Interest-bearing liabilities were 24.02 million yuan, remaining nearly unchanged from the previous year [5] R&D Investment - The company increased its R&D investment to 54.4 million yuan in 2024, a year-on-year increase of 4.02% [6] Business Composition - The main business includes power information collection systems, smart electricity cloud services, and power cabinets [7] - Revenue from power information collection systems was 622 million yuan, accounting for 81.13% of total revenue, with a year-on-year growth of 33.41% [7] - Revenue from power cabinets was 106 million yuan, accounting for 13.83% of total revenue [7] - Revenue from energy cloud projects reached 18.28 million yuan, with a gross margin of 80.56% [7] Regional Distribution - The highest sales revenue was in East China, totaling 324 million yuan, accounting for 42.24% of total revenue [8] - Central China followed with sales revenue of 198 million yuan, accounting for 25.89% [8] - South China sales revenue was 127 million yuan, accounting for 16.57% [8] Future Development - The company plans to deepen strategic transformation, increase R&D investment, and expand business areas to transition from a power equipment supplier to an energy comprehensive service provider [9] - The company aims to seize opportunities in the national digital economy and energy intelligence transformation to enhance market competitiveness [9]