Core Viewpoint - The photovoltaic industry is experiencing rapid growth driven by global "dual carbon" goals, with the junction box sector also benefiting from technological upgrades and domestic substitution, positioning ZERUN New Energy as a leader in this field [1][2][8]. Company Overview - ZERUN New Energy specializes in integrated solutions for photovoltaic module junction boxes, recognized as a high-tech enterprise and a national-level "specialized and innovative" small giant [2][8]. - The company has established strong partnerships with both international and domestic photovoltaic manufacturers, enhancing its market presence [4][8]. Technological Innovation - ZERUN New Energy emphasizes technological innovation, holding 101 domestic patents (including 27 invention patents) and 4 overseas invention patents, and has set national standards for photovoltaic module junction boxes [3][8]. - The company has developed several industry-first products, including the Z8C junction box, which features a two-component structure and the least electrical connection points for crystalline silicon components [3]. Market Growth and Financial Performance - The global distributed photovoltaic installation accounted for approximately 43% of new installations in 2023, making it a key growth driver for the industry [4]. - ZERUN New Energy's revenue is projected to grow from 521.93 million yuan in 2022 to 875.95 million yuan in 2024, with a compound annual growth rate (CAGR) of 29.55% [4][6]. - The net profit attributable to the parent company is expected to increase from 86.40 million yuan in 2022 to 131.32 million yuan in 2024, with a CAGR of 23.28% [4][6]. Financial Data Summary - Total assets are projected to reach 1.069 billion yuan by the end of 2024, up from 609.39 million yuan in 2022 [6]. - The company's equity attributable to shareholders is expected to grow from 317.18 million yuan in 2022 to 588.47 million yuan in 2024 [6]. - The company's operating income and net profit figures reflect a strong upward trend, indicating robust financial health [4][6]. Future Prospects - ZERUN New Energy is diversifying its business into emerging areas such as perovskite battery technology and electric vehicle connection and protection components, which are expected to become new growth drivers [7][8]. - The company is actively exploring partnerships for the development of junction boxes compatible with next-generation perovskite solar cells, which may disrupt the current market dominated by crystalline silicon technology [7]. - The upcoming IPO is anticipated to provide capital support for R&D, production capacity, and market expansion, solidifying the company's leading position in the industry [8].
泽润新能：技术为核 智领光伏连接新未来
Huan Qiu Wang·2025-05-12 06:03