特变电工去年营业收入超977亿元

Core Viewpoint - TBEA Co., Ltd. reported a slight decline in revenue and a significant drop in net profit for 2024, indicating challenges in the current market environment while maintaining a diversified business strategy to mitigate risks and capture growth opportunities [1][2]. Financial Performance - In 2024, TBEA achieved operating revenue of 97.782 billion yuan, a year-on-year decrease of 0.35% - The net profit attributable to shareholders was 4.135 billion yuan, down 61.37% - The company plans to distribute a cash dividend of 2.50 yuan per 10 shares (including tax) [1]. Business Strategy - TBEA's diversified business strategy includes power transmission and transformation, new energy, energy, and new materials, which helps balance resource allocation and enhance overall efficiency [1][2]. - The company has established a collaborative development framework among its four major industries, allowing for mutual support and risk diversification [1]. Market Position - TBEA is one of the few domestic companies capable of providing integrated services in the high-voltage cable sector, including cables, accessories, and construction [1]. - In the power transmission and transformation sector, TBEA signed contracts worth 49.1 billion yuan in the domestic market last year [1]. Future Investments - TBEA is focusing on smart manufacturing and overcoming industry chain bottlenecks, with digital factories being put into operation and the acquisition of Capacitor and Hollow Reactor Co., Ltd. to enhance product offerings [2]. - The company plans to invest 17.04 billion yuan in a coal-to-natural gas project, aiming to produce 2 billion cubic meters annually, leveraging its substantial coal reserves and advancing coal-to-natural gas technology [2][3]. Industry Outlook - The State Grid's investment is projected to exceed 650 billion yuan in 2025, with the Southern Power Grid planning an investment of 175 billion yuan, indicating a strong growth trajectory for the power equipment sector [2]. - The increasing fixed asset investment in the power grid is expected to support sustained growth in the performance of power equipment companies [2].