泰永长征2024年财报：营收净利双降，智能电网布局能否扭转颓势？

Core Viewpoint - Taiyong Changzheng's 2024 annual report shows a significant decline in both revenue and net profit, indicating challenges in maintaining growth amidst increasing market competition and changing demand [1][4]. Financial Performance - The total operating revenue for 2024 was 892 million yuan, a year-on-year decrease of 14.07% compared to 1.038 billion yuan in 2023, which had a growth of 15.88% [1][4]. - The net profit attributable to shareholders for 2024 was 37 million yuan, down 46.86% from 70 million yuan in 2023, which had a modest increase of 3.03% [1][4]. - The non-recurring net profit for 2024 was 22.15 million yuan, a decline of 64.87% year-on-year [1]. - Quarter-on-quarter data for 2024 shows a rolling decline in total operating revenue of 2.14% and a net profit decrease of 10.10% [4]. Market Position and Challenges - The decline in performance is attributed to intensified market competition, changes in demand, and potential internal management issues [4]. - Despite efforts in the smart grid and new energy sectors, the company has not effectively translated these initiatives into revenue growth [4][6]. Smart Grid Development - The company focuses on the development of smart grid solutions, particularly for power systems below 35kV, including various products and services [6]. - In 2024, the company increased investment in digital technology for smart grid distribution and launched several new products, indicating a commitment to innovation [6]. Shareholder Confidence - The number of shareholders has been decreasing, with a total of 26,535 shareholders as of April 18, 2025, reflecting a drop of 2.92% from the previous period [7]. - This decline in shareholder numbers suggests a lack of market confidence, despite a concentration of shares which may indicate some investors' optimism [7]. - The latest stock price was 13.21 yuan, showing a cumulative decline of 29.99% since the concentration of shares began [7].