Smarter Energy(SH:600869) Chang Jiang Shang Bao·2025-05-08 00:33Core Viewpoint - Far East Holdings (600869.SH) continues to secure large contracts, with significant growth in its smart battery business despite previous losses [1][2][5] Group 1: Contract Orders - In April 2025, the company received contracts exceeding 10 million RMB totaling 2.646 billion RMB, representing a year-on-year increase of 11.33% and a month-on-month increase of 2.34% [2] - From January to April 2025, the total contracts received exceeded 8.566 billion RMB, with a year-on-year growth of 0.91% [2] - The breakdown of contracts includes 6.795 billion RMB for smart cable networks, 565 million RMB for smart batteries, and 1.206 billion RMB for smart airport projects [2][3] Group 2: Business Performance - In 2024, the company secured contracts totaling 24.593 billion RMB, with smart cable networks accounting for 19.506 billion RMB, smart batteries for 2.507 billion RMB (up 411.41%), and smart airports for 2.579 billion RMB (up 53.96%) [3] - The significant growth in smart battery orders is attributed to strong performance in the energy storage sector, with 1.375 billion RMB in energy storage contracts, a year-on-year increase of 5605% [3] - The company has expanded its global presence in energy storage, increasing market share in Poland, Ukraine, Italy, and Romania [3] Group 3: Financial Performance - In Q1 2025, the company reported revenue of 4.87 billion RMB, a year-on-year increase of 1.3%, and a net profit of 45.93 million RMB, up 84.6% [5] - The smart cable network business generated 4.207 billion RMB in revenue, a decrease of 5.54% year-on-year, while the smart battery business achieved 329 million RMB, a growth of 93.64% [6] - The smart airport business also saw rapid growth, with revenue of 312 million RMB, an increase of 80.92% [6]