HNAC(SZ:300490) Shang Hai Zheng Quan Bao·2025-04-20 19:13Core Viewpoint - The company is facing significant operational challenges in 2024, with a reported main business revenue of 1,909.24 million yuan, a decrease of 19.39% compared to the previous year, and a net profit attributable to shareholders of -393.11 million yuan [6][8]. Company Overview - The company specializes in the energy sector, focusing on self-developed core technologies and equipment, leading the global market share in automation control devices for small and medium hydropower stations [2][3]. - The company has developed a series of core products, including energy management systems, microgrid controllers, and energy storage converters, achieving a 90% accuracy rate in fault prediction for energy storage health management systems [2][3]. Technological Advancements - The company launched the first domestically produced variable-speed pumped storage system, filling a technological gap in the country [3]. - The self-developed HZ-YTJS new pitch control system is expected to increase annual electricity generation by 5%-10% and has been recommended by the Ministry of Water Resources for 2024 [3]. - The company has created a large model for intelligent operation and maintenance in hydropower, recognized as the first multimodal large model in the domestic field [3]. Financial Performance - The company reported a significant decline in revenue and net profit, indicating operational pressures and challenges in the current market environment [6][8]. - The company has not made any adjustments or restatements to previous years' financial data [5]. Business Strategy - The company is focusing on enhancing domestic operations while expanding international business, leveraging its experience in overseas markets to explore opportunities in Southeast Asia, Africa, and Europe [8]. - Several international projects, including a 105MW/105MWh battery storage project in Côte d'Ivoire and a multi-energy complementary microgrid project in Ethiopia, have commenced construction [8]. Internal Reforms - The company is implementing comprehensive internal reforms to improve quality and efficiency, including optimizing production processes and enhancing digital management [9]. - Measures are being taken to reduce costs and increase operational efficiency, including refining the compensation system and optimizing performance evaluation mechanisms [9].