CHINT ELECTRICS(SH:601877) Zheng Quan Shi Bao Wang·2025-04-29 13:09Core Insights - The company reported a revenue of 64.519 billion yuan for 2024, representing a year-on-year growth of 12.70%, and a net profit attributable to shareholders of 3.874 billion yuan, up 5.10% [1] - In Q1 2025, the net profit attributable to shareholders reached 1.163 billion yuan, marking a 7.65% increase year-on-year [1] - The company focuses on "strengthening integration and innovation, promoting collaborative development" with an emphasis on smart electrical appliances and green energy [1] Business Segments - The smart electrical appliances segment generated a revenue of 21.704 billion yuan in 2024, showing a growth of 2.79% [2] - The company is enhancing its operational efficiency and competitiveness through digital transformation and deepening collaboration across the entire industry chain [2] - In the domestic market, the company is capitalizing on opportunities from new energy, new power systems, and new infrastructure, achieving both scale and profit growth [2] International Strategy - The company is restructuring its overseas business, focusing on high-potential regions such as Europe, the Middle East, North Africa, and Asia-Pacific [3] - It aims to deepen strategic partnerships with key clients and accelerate its "global regional localization" strategy [3] - The company maintains stable growth in traditional component channels in Europe while developing new growth curves in Germany and France [3] Green Energy Initiatives - In the household photovoltaic sector, the company achieved a revenue of 31.826 billion yuan in 2024, with a net profit of 2.861 billion yuan and an annual installed capacity exceeding 13 GW [4] - The company has a total installed capacity of over 19 GW and has recruited nearly 3,700 agents, covering 29 provincial-level administrative regions [4] - The company is actively involved in the development and operation of renewable energy projects, contributing to the global energy structure's green transition [4] Domestic Projects - The company has established Zhejiang Province's first tidal flat energy storage station and is advancing the construction of a 300 MW wind power project in the northwest region [5] - It is collaborating with NIO Energy to explore the "energy storage + battery swap" market, promoting deep integration of the green industry chain [5] R&D and Innovation - The company is enhancing its global business layout in the inverter sector, focusing on North America and South Korea while accelerating breakthroughs in Europe [6] - In 2024, R&D expenses increased by 7.47% to 1.267 billion yuan, with R&D investment as a percentage of sales revenue ranging from 3% to 12% [6] - The company holds nearly 100 core patents and has received multiple awards for its technological advancements and product certifications [6]