HNAC(SZ:300490) Shen Zhen Shang Bao·2025-06-10 07:46Core Viewpoint - The company expresses dissatisfaction with its current stock price, believing it does not reflect its comprehensive value, despite facing complex economic conditions and industry competition [1][2]. Group 1: Financial Performance - The company reported a revenue of 1.91 billion yuan in 2024, a year-on-year decrease of 19.4%, and a net loss of 393 million yuan, worsening from a loss of 180 million yuan in the previous year [4]. - In Q1 2025, the company’s revenue was 334 million yuan, down 56.8% year-on-year, with a net loss of 71.68 million yuan, a decline of 2217.5% [5]. Group 2: Business Strategy and Outlook - The company is optimistic about future development, focusing on expanding overseas markets and increasing R&D efforts to enhance product competitiveness [2][3]. - The company has a strong order backlog and is accelerating the implementation of large projects, particularly in overseas markets where profit margins are higher [2][3]. Group 3: Challenges and Responses - The company has faced cumulative asset impairment and credit impairment of approximately 600 million yuan over the past three years due to issues with accounts receivable and underperforming subsidiaries [1]. - The company plans to implement measures in 2025 to improve operational and management efficiency, including expanding international market efforts and responding to lithium battery manufacturers' demands [5]. Group 4: Market Position - The company has a leading market share in small hydropower station automation control equipment globally and is recognized as a champion enterprise in manufacturing [3]. - The company’s stock price has seen a significant decline of approximately 60% over the past three and a half years, closing at 8.28 yuan per share on June 10, 2023, compared to 21.10 yuan on the first trading day of 2022 [6].