涪陵电力2024年财报：营收下滑9.46%，净利润微降2.07%，电网升级与节能业务成亮点

Core Viewpoint - Fuling Power (600452) reported a decline in both revenue and net profit for 2024, indicating significant operational pressure despite progress in grid upgrades, energy-saving initiatives, and safety production [1][4]. Group 1: Revenue and Profit Decline - In 2024, Fuling Power's total revenue was 3.117 billion yuan, a decrease of 9.46% from 3.442 billion yuan in 2023, marking the second consecutive year of revenue decline [4]. - The net profit attributable to shareholders was 514 million yuan, down 2.07% year-on-year, while the net profit excluding non-recurring items was 504 million yuan, a decrease of 2.55% [4]. - Historical data shows that both revenue and net profit peaked in 2022 at 3.562 billion yuan and 613 million yuan, respectively, with 2024 figures reflecting declines of 12.49% and 16.15% compared to 2022 [4]. Group 2: Grid Upgrades and Energy-Saving Business Highlights - Despite the decline in revenue and profit, Fuling Power made significant progress in grid upgrades and energy-saving initiatives [5]. - The company completed the mid-term evaluation of the "14th Five-Year" grid planning for Fuling District and developed a new power system construction plan with 27 specific tasks [5]. - Key engineering projects, such as the capacity expansion of the Lidong Substation, were completed on schedule, enhancing power supply capabilities [5]. - In energy-saving efforts, Fuling Power achieved breakthroughs in multiple locations, with projects in Xinjiang and Shanxi completed and the Shaanxi project initiated on time [5]. Group 3: Safety Production and Risk Management - In 2024, Fuling Power made notable advancements in safety production and operational risk management [6]. - The company implemented a three-year action plan for safety production, revising safety reward and punishment systems, leading to a significant reduction in violations [6]. - A total of 1,517 safety hazards were rectified, ensuring stable operation of the power grid [6]. - The company effectively managed tax risk assessments and achieved a 100% electricity bill recovery rate, while enhancing internal control systems with the establishment and revision of 65 management regulations [6].