Willfar(SH:688100) Zheng Quan Ri Bao·2025-07-29 14:08Core Insights - The company reported a revenue of 1.368 billion yuan for the first half of 2025, marking an 11.9% year-on-year increase, with a net profit attributable to shareholders of 305 million yuan, up 12.2% [2][3] Business Performance - The company signed new orders worth 1.627 billion yuan in the first half of 2025, reflecting an 8.3% year-on-year growth, with a total contract backlog of 3.956 billion yuan, a 12.6% increase [3] - The company launched nearly 36 innovative products and solutions, generating revenue of 642 million yuan, which accounted for 47% of total revenue [3] - The overseas business generated revenue of 283 million yuan, representing 20.8% of the main business income, with over 10 overseas subsidiaries and sales offices established globally [3] Dividend and Buyback Strategy - The company announced a cash dividend of 0.52 yuan per share for 2024, totaling 250 million yuan, and proposed a mid-year dividend of 0.25 yuan per share for the first half of 2025, with a payout ratio of 40% [4] - A second round of share buyback was initiated in January, with 128 million yuan completed during the reporting period, leading to a total of 249 million yuan in cash dividends and buybacks, accounting for 81.74% of the net profit for the first half of 2025 [4] - Cumulatively, the company has distributed 958 million yuan in cash dividends and repurchased shares worth approximately 200 million yuan since its listing, exceeding the total funds raised at the time of listing [4] Industry Dynamics - The domestic power industry is experiencing rapid development due to new policies, with the company leveraging its core technologies in IoT, chips, and AI to drive energy digital transformation [5] - The company has developed a comprehensive energy IoT solution, expanding its business from basic areas like smart water metering to diverse scenarios such as smart water management and urban digital management [6] - The company’s new dual-mode communication chip has passed certifications from major power grid operators, and its market share continues to grow, covering over 70% of global power AMI communication standards [6] - AI technology is integrated into the company's operations, enhancing load forecasting and improving the efficiency and reliability of power distribution networks [6] - The company showcased its AI core technologies and solutions at the 2025 World Artificial Intelligence Conference, demonstrating China's innovative capabilities in energy digital transformation [6]