CRUN(SZ:002272) Zheng Quan Shi Bao Wang·2025-04-25 15:12Core Viewpoint - Chuanrun Co., Ltd. has optimized its sales strategy, focusing on order gross profit levels, resulting in a revenue of 1.597 billion yuan for the year and an overall gross margin increase of 2.34 percentage points compared to the previous year [1] Group 1: Financial Performance - In 2024, the company achieved a revenue of 1.597 billion yuan with a gross margin of approximately 18% [1] - For Q1 2025, the company reported a revenue of 312 million yuan, showing a slight increase compared to the same period last year [1] - The company raised 256 million yuan through a private placement in March 2024, with a net amount of 251 million yuan allocated for liquid cooling and offshore wind power product development [1] Group 2: Business Development - Chuanrun Co., Ltd. is actively developing new clients in the liquid cooling sector, particularly in data centers, cloud computing, and computing power equipment, achieving a breakthrough in server immersion liquid cooling products [1] - The company has established a European subsidiary and is focusing on Southeast Asia, the Middle East, and Central Asia markets, resulting in a 66.47% year-on-year increase in international business revenue [1] - The revenue from clean energy equipment and solutions grew by 26.71% compared to the previous year [1] Group 3: Research and Development - The company has over 300 R&D personnel and invested 62.9 million yuan in R&D in 2024, accounting for 3.94% of its revenue [2] - Chuanrun Co., Ltd. has achieved several first-of-their-kind R&D designs and applications, including lubrication systems for the domestic G50 gas turbine and support for the world's largest offshore wind turbines [2] Group 4: Market Trends and Strategy - The company aims to leverage national policies and industry development opportunities, focusing on new energy, energy storage, and digital energy sectors [3] - Chuanrun Co., Ltd. plans to accelerate the standardization and large-scale development of liquid cooling technology products and expand its international market share [3] - The company has attracted interest from institutional investors, with Morgan Securities and China Construction Bank becoming significant shareholders [3]