GOTION(SZ:002074) Xin Lang Cai Jing·2025-05-12 06:38Core Insights - Company reported 2024 annual results and Q1 2025 results, showing strong growth in revenue and net profit [1][2] Group 1: 2024 Annual Results - Company achieved revenue of 35.392 billion, a year-on-year increase of 11.98% [1] - Net profit attributable to shareholders reached 1.207 billion, up 28.56% year-on-year [1] - Non-recurring net profit attributable to shareholders was 263 million, a significant increase of 125.86% year-on-year [1] - Gross margin for power and energy storage batteries improved, with overseas revenue exceeding 10 billion for the first time, growing over 70% year-on-year [1] - Total battery product shipments were approximately 63 GWh [1] Group 2: Q1 2025 Results - Company reported revenue of 9.055 billion for Q1 2025, a year-on-year increase of 20.61% [2] - Net profit attributable to shareholders was 101 million, up 45.55% year-on-year [2] - Non-recurring net profit attributable to shareholders was 15 million, an increase of 37.59% year-on-year [2] - Battery shipments for Q1 2025 were approximately 18 GWh [2] Group 3: Market Position and Growth - Company ranked third globally in lithium iron phosphate battery installation volume with a market share of 6.18% [2] - Global power lithium battery installation volume increased by 73.8%, with a market share of 3.2%, ranking eighth [2] - In China, power lithium battery installation volume grew by 48%, with a market share of 4.59%, ranking fourth [2] Group 4: Future Projections - Revenue projections for 2025-2027 are 46.621 billion, 53.673 billion, and 63.690 billion, representing year-on-year growth of 31.73%, 15.13%, and 18.66% respectively [3] - Expected net profit attributable to shareholders for 2025-2027 is 1.746 billion, 2.331 billion, and 2.907 billion, with year-on-year growth of 44.67%, 33.46%, and 24.77% respectively [3] - Corresponding price-to-earnings ratios are projected to be 21.69, 16.25, and 13.02 [3]