NEW POWER(SZ:300152) Zheng Quan Zhi Xing·2025-06-26 02:22Core Viewpoint - The annual report of Xiong'an New Power Technology Co., Ltd. for 2024 highlights the company's financial performance, operational challenges, and future outlook in the energy-saving combustion industry, emphasizing the need for innovation and adaptation to market changes [1][5]. Financial Performance - The company's total operating revenue for 2024 was CNY 203,296,317, a decrease of 6.50% compared to CNY 190,073,311 in 2023 [4][13]. - The net profit attributable to shareholders was CNY 47,417,182.8, reflecting a decline of 35.31% from the previous year's CNY 69,997,786.6 [3][4]. - The basic earnings per share were reported at -0.0665, showing a 35.31% decrease compared to -0.0982 in the previous year [3][4]. Industry Overview - The company operates in the energy-saving combustion sector, providing solutions for various industries including power generation, petrochemicals, metallurgy, and construction [5][11]. - The industry is facing both challenges and opportunities due to structural adjustments in the power supply and demand market, necessitating a balance between environmental protection and economic efficiency [5][6]. Market Trends - According to the China Electricity Council, the national electricity consumption index for 2024 is projected to grow by 29.5% compared to the 2020 baseline, indicating a stable increase in demand [6][8]. - The total installed power generation capacity in the country is expected to reach 3.35 billion kilowatts by the end of 2024, marking a year-on-year growth of 14.6% [7][8]. Future Outlook - The company aims to leverage its technological innovations and adapt to the evolving market landscape, focusing on energy-saving and clean combustion technologies [5][9]. - The anticipated growth in the renewable energy sector is expected to drive demand for the company's products and services, particularly in light of national carbon reduction goals [9][10]. Research and Development - The company has developed several patents related to low-nitrogen combustion technologies and is actively engaged in projects focusing on hydrogen and ammonia combustion [11][12]. - Recent advancements include the development of a 1.4MW ammonia combustion burner, achieving significant reductions in NOx emissions [12][13].