SGEG(SH:601616) Zheng Quan Zhi Xing·2025-06-10 08:14Core Viewpoint - The company is preparing for its 2024 Annual General Meeting (AGM) scheduled for June 19, 2025, focusing on maintaining shareholder rights and ensuring orderly proceedings [1][2][3]. Meeting Procedures - The AGM will include registration for shareholders, voting procedures, and a structured agenda to ensure efficient discussions and decision-making [2][4]. - Voting will be conducted through a combination of on-site and online methods, with specific time slots allocated for each [2][4]. Financial Performance - The company reported a net profit of 74.7272 million yuan for the year 2024, representing a year-on-year increase of 411.28%, successfully meeting its annual targets [7]. - The company’s total revenue for 2024 is projected to reach 1.349 trillion yuan, with a growth rate of 5% compared to the previous year, maintaining its position as the second-largest economy globally [6][7]. Business Strategy - The company is focusing on high-end complete equipment and power electronics as its core business, while also expanding into emerging sectors such as data centers and green energy solutions [8][9]. - The company aims to enhance its competitive edge in traditional industries like oil and petrochemicals, while also exploring new markets and international collaborations [8][9][10]. Research and Development - The company invested 48.2009 million yuan in R&D in 2024, marking a 2.34% increase from the previous year, and filed 21 new patents [9][10]. - New product developments include advanced medium-voltage switchgear and low-voltage variable frequency cabinets, designed to meet diverse application needs [10][11]. Sustainability Initiatives - The company is committed to green manufacturing and sustainable development, having received certifications for its low-carbon products and green supply chain management [12][13]. - The company’s ESG report for 2024 received positive evaluations, reflecting its dedication to environmental, social, and governance standards [12][14]. Governance and Compliance - The company emphasizes strong corporate governance, with the board and supervisory committee actively overseeing operations and ensuring compliance with legal regulations [19][23]. - The independent directors have been actively involved in reviewing company operations and ensuring that shareholder interests, particularly those of minority shareholders, are protected [25][32].