Core Viewpoint - YN Power's performance in 2024 shows a decline in revenue and net profit, despite the overall growth potential in the domestic power distribution industry driven by economic development and government policies [1][2] Industry Overview - The domestic power distribution and control equipment industry is experiencing growth due to increasing electricity demand and government initiatives such as the "Belt and Road" initiative and modern infrastructure development [1] - In 2024, the power distribution industry is expected to maintain a good development trend, although performance among listed companies is showing divergence, with some companies performing well while others face significant declines [1] Company Performance - In 2024, YN Power reported revenue of 180 million yuan, a year-on-year decrease of 19.79%, and a net profit of 13.96 million yuan, down 22.25% year-on-year [1] - The company's revenue scale is relatively small, and its gross profit margin and overall performance are at a medium level [1] Business Development - YN Power has achieved a breakthrough in sales related to energy storage, primarily focusing on industrial and commercial energy storage [2] - The company anticipates significant market demand for energy storage due to decreasing battery costs and improved safety technologies, but it acknowledges that this business is heavily influenced by national energy policies [2] - Future growth points for YN Power include strengthening existing product lines such as transformers and reactors, developing new energy storage devices, and expanding smart substation management services [2] - The company aims to deepen its presence in the power distribution market and leverage opportunities in smart power and global energy security to enhance profitability and achieve rapid growth [2]
亿能电力：将深耕电力输配电市场 提高公司盈利能力