Wanma Co., Ltd.(SZ:002276) Xin Hua Cai Jing·2025-04-21 01:30Core Viewpoint - Wanma Co., Ltd. reported a record high revenue of 17.76 billion yuan for 2024, with a year-on-year growth of 17.46%, and a net profit of 344 million yuan, indicating strong performance despite industry competition [2] Financial Performance - The company achieved an operating income of 17.76 billion yuan in 2024, a 17.46% increase year-on-year, and a net profit of 344 million yuan [2] - In Q4, the non-recurring net profit reached 77.05 million yuan, up 115.17% year-on-year [2] - The company plans to distribute a cash dividend of 0.50 yuan per 10 shares to all shareholders [2] Business Segments - Wanma Co., Ltd. operates in three main sectors: power cables, new materials, and renewable energy [2] - The revenue from power products reached 11.75 billion yuan, marking a 32.29% increase year-on-year [2] - The company has a stable competitive advantage in the high-end cable market, being recognized as one of the top 10 most competitive companies in the Chinese cable industry for seven consecutive years [2] Market Trends and Opportunities - The total investment in the national grid and Southern Power Grid is expected to exceed 825 billion yuan in 2025, representing a year-on-year increase of approximately 36% [3] - The demand for high-end and special cables is projected to grow, with their market share in the cable industry expected to rise from 30% in 2024 to 35%-40% by 2025 [3] - Wanma Co., Ltd. is actively transitioning towards emerging industries, expanding its product range to include high-flexibility cables for robots and special cable series for various applications [3] Orders and Contracts - In Q1 2025, Wanma Co., Ltd. secured contracts worth approximately 4.5 billion yuan across various sectors, including the national grid and new energy vehicles [4] - The company is focusing on high-performance, customized cables to meet the growing demand in the industrial automation and robotics sectors [4]