GCLET(SZ:002015) Quan Jing Wang·2025-05-09 13:37Core Viewpoint - GCL-Poly Energy achieved significant growth in Q1 2025, driven by rapid advancements in distributed photovoltaic and energy storage projects, alongside effective cost management strategies [1][2]. Financial Performance - In Q1 2025, the company reported revenue of 2.933 billion yuan, a year-on-year increase of 21.49% - Net profit attributable to shareholders reached 254 million yuan, up 35.15% year-on-year - Non-recurring net profit surged to 193 million yuan, reflecting a substantial year-on-year growth of 176.61% [1]. Strategic Layout - The company has established a dual-driven development model focusing on "energy assets + energy services" - The goal for the next five years is to have energy service revenue exceed 50% of total revenue - In energy asset management, the company is exploring value-added operational scenarios such as load forecasting and price arbitrage, aiming for a dual revenue structure of guaranteed returns from physical assets and flexible returns from market services - The company is expanding its comprehensive energy services, including virtual power plants, energy trading, and energy-saving renovations, with a current adjustable load capacity of 550 MW in Jiangsu Province, representing 30% of the province's actual adjustable load [2]. Technological Innovation - The company partnered with Ant Group to launch the "EnergyTS Energy Power Time Series Model Integration Machine," which significantly outperformed international mainstream products in photovoltaic scenario evaluations - The partnership also led to the issuance of China's first photovoltaic green asset RWA (Real World Asset), creating a new financing model that transforms "green production" into "green finance" [2]. Investor Returns - The company plans to distribute a cash dividend of 1 yuan per 10 shares (tax included), totaling approximately 158 million yuan, which accounts for 32.34% of the net profit attributable to shareholders for 2024 - The management emphasizes the importance of value-based market capitalization management and aims to enhance core competitiveness through continuous technological innovation and operational quality improvements [3]. Future Outlook - GCL-Poly Energy aims to align with the "dual carbon" strategic goals and accelerate business transformation and upgrades through the dual-driven approach of energy assets and services - The company anticipates establishing a differentiated competitive advantage in the evolving new energy system, creating sustained value for investors [3].