SUNWODA(SZ:300207) Xin Lang Cai Jing·2025-04-29 02:50Core Viewpoint - The company reported strong financial performance in 2024, with significant growth in revenue and net profit, driven by the expansion of its consumer battery and energy storage businesses [1][4]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 56.021 billion yuan, a year-on-year increase of 17.05%, and a net profit attributable to shareholders of 1.468 billion yuan, up 36.43% year-on-year [1]. - The fourth quarter of 2024 saw operating revenue of 17.742 billion yuan, a 31.00% increase year-on-year, but a net profit decrease of 6.06% to 256 million yuan [1]. - The company's gross profit margin improved to 15.18% in 2024, up 0.58 percentage points year-on-year, while the net profit margin was 2.62%, an increase of 0.37 percentage points [4]. Group 2: Business Segments - The consumer battery business generated revenue of 30.405 billion yuan in 2024, a 6.52% increase year-on-year, with a gross margin of 17.65%, up 2.74 percentage points [2]. - The company’s power battery shipments reached 25.29 GWh in 2024, a remarkable increase of 116.89% year-on-year, resulting in revenue of 15.139 billion yuan, up 40.24% [3]. - The energy storage system installed capacity reached 8.88 GWh, a 107% increase year-on-year, with revenue of 1.889 billion yuan, up 70.19% [3]. Group 3: Future Outlook - The company is expected to continue its growth trajectory, with projected revenues of 67.068 billion yuan, 78.268 billion yuan, and 88.942 billion yuan for 2025-2027, representing year-on-year growth rates of 20%, 17%, and 14% respectively [4]. - Net profit forecasts for the same period are 2.301 billion yuan, 2.755 billion yuan, and 3.162 billion yuan, with year-on-year growth rates of 57%, 20%, and 15% respectively [4]. - The company is enhancing its self-supply rate for consumer battery cells and expanding its global footprint, including projects in Vietnam, Hungary, and Thailand [2][3].