SIEYUAN(002028) 长江商报·2025-05-19 00:55Core Viewpoint - The company, Siyuan Electric (002028.SZ), announced a share buyback plan of no less than 300 million yuan and no more than 500 million yuan, signaling confidence in its future development [2][5]. Group 1: Share Buyback Details - The buyback will utilize self-owned funds and aims to reduce registered capital by canceling the repurchased shares [4]. - This marks the first time Siyuan Electric has repurchased shares since its IPO in 2004, with a cumulative stock price increase of over 77 times since then [2][6]. - The buyback price will not exceed 109.45 yuan per share, with an estimated repurchase quantity ranging from approximately 274,100 shares (0.35% of total shares) to 456,830 shares (0.58% of total shares) [4][7]. Group 2: Financial Performance - Siyuan Electric's net profit attributable to shareholders has grown from 295 million yuan in 2018 to 2.049 billion yuan in 2024, nearly a sixfold increase over six years [8][10]. - The company reported a revenue of 15.458 billion yuan and a net profit of 2.049 billion yuan in 2024, reflecting a year-on-year growth of 24.06% and 31.42%, respectively [10]. - In the first quarter of this year, the company achieved revenues of 3.227 billion yuan and a net profit of 446 million yuan, with year-on-year growth rates of 21.41% and 22.91% [11]. Group 3: Company Overview and Innovation - Founded in December 1993, Siyuan Electric specializes in power technology research and development, equipment manufacturing, and engineering services, focusing on the power distribution and transmission industry [9]. - The company has invested significantly in R&D, with expenditures increasing from 556 million yuan in 2021 to 1.11 billion yuan in 2024, totaling 3.256 billion yuan over four years [10]. - Siyuan Electric holds 897 authorized patents, including 327 invention patents, and emphasizes continuous investment in technology and human capital to maintain its competitive edge [10].