JZ GROUP(SZ:300040) Xin Lang Cai Jing·2025-09-08 04:33Core Insights - Harbin Jiuzhou Group Co., Ltd. conducted a roadshow in Shanghai from September 3 to 5, engaging with 11 institutions including Guohong Tianxia Capital and Western Securities [1] Group 1: Company Overview - Jiuzhou Group, founded in 1993 and listed on the Growth Enterprise Market in 2010 (stock code: 300040), is a national key high-tech enterprise focusing on smart distribution networks and network energy [2] - The company has developed three core business segments: smart distribution networks, renewable energy, and integrated energy services, with over 40 subsidiaries and a presence in various industries and projects domestically and internationally [2] - Jiuzhou Group has over 200 patents and has built a modern intelligent manufacturing model that includes products, engineering design, construction, financial services, and operation maintenance [2] Group 2: Financial Performance - In the first half of 2025, Jiuzhou Group achieved a revenue of 685 million yuan and a net profit of 42.815 million yuan, marking a year-on-year growth of 65.6% [3] - The integrated smart energy segment turned profitable due to optimized operations of biomass cogeneration assets, while the renewable energy segment saw a slight decline in gross margin due to market policy changes [3] Group 3: Strategic Initiatives - The management has proposed a "return to core business" strategy for 2024, focusing on enhancing the performance of the smart distribution network manufacturing segment [4] - Plans include increasing marketing investments, forming large customer sales teams, and establishing a research and development center in Yangzhong, Jiangsu [4] - The target for the manufacturing segment's orders in 2025 is to exceed a 20% increase compared to the previous year [4] Group 4: Business Development Plans - The company aims for a 20% revenue growth in the smart distribution network business, a 10% increase in renewable energy business, and a 10% growth in integrated smart energy business for 2025 [5] - The smart distribution network equipment orders are split with approximately one-third from within the grid and two-thirds from outside, with a gross margin of about 20% and a net profit margin of around 3% [5] - Jiuzhou Group is cautiously optimistic about expanding its overseas business and is considering new financing options such as convertible bonds or private placements in 2026 [5]