Yuneng Technology (SH:688348) Xin Lang Cai Jing·2025-07-31 08:24Core Viewpoint - The company, YN Technology, focuses on the photovoltaic power generation sector, particularly in the development, production, and sales of component-level power electronic devices for distributed photovoltaic systems, benefiting from the depreciation of the RMB and its status as a "specialized, refined, distinctive, and innovative" enterprise [2][3]. Company Overview - YN Technology is located in Jiaxing, Zhejiang Province, and was established on March 24, 2010, with its stock listed on June 8, 2022 [7]. - The company's main business includes the research, production, and sales of component-level power electronic devices for distributed photovoltaic power generation systems [7]. - The revenue composition of YN Technology includes: micro-inverters and energy communication products (55.56%), commercial energy storage systems and services (30.63%), intelligent control disconnectors (10.46%), household energy storage products (1.84%), and others (2.5%) [7]. Financial Performance - For the first quarter of 2025, YN Technology reported a revenue of 191 million yuan, a year-on-year decrease of 55.39%, and a net profit attributable to shareholders of 28.88 million yuan, down 27.68% year-on-year [7]. - The company has distributed a total of 349 million yuan in dividends since its A-share listing [8]. Market Position and Trends - YN Technology's overseas revenue accounted for 66.03% of total revenue in 2024, benefiting from the depreciation of the RMB [3]. - The company has been recognized as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title for small and medium-sized enterprises in China [2]. Stock Performance - On July 31, YN Technology's stock fell by 2.23%, with a trading volume of 94.4 million yuan and a market capitalization of 6.923 billion yuan [1]. - The average trading cost of the stock is 44.70 yuan, with the current price approaching a resistance level of 45.14 yuan, indicating potential for upward movement if the resistance is broken [6].