Core Viewpoint - The company, Haocreator Ruitong, is set to revolutionize the power equipment industry with its innovative technologies and is preparing for its IPO to further capitalize on the growing demand for smart distribution equipment in the new power system landscape [1][2][11]. Company Overview - Haocreator Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, focusing on products like smart ring main units, smart pole switches, and box-type substations [2][3]. - The company has established a robust competitive advantage through its core technology system, which includes self-healing technology for distribution network faults and environmentally friendly air-insulated technology [4][5]. Market Position - The company ranks 6th, 2nd, and 3rd in the bidding for smart ring main units, smart pole switches, and box-type substations, respectively, indicating a strong market presence [5]. - The company has achieved significant revenue growth in its core business segments, with revenues from smart ring main units, smart pole switches, and box-type substations increasing from 232 million, 174 million, and 109 million yuan in 2022 to 346 million, 276 million, and 202 million yuan in 2024 [8]. Financial Performance - The company's total revenue is projected to grow from 560 million yuan in 2022 to 867 million yuan in 2024, with a compound annual growth rate (CAGR) of 24.47% [8]. - The net profit is expected to increase from 68.76 million yuan in 2022 to 111 million yuan in 2024, with a CAGR of 27.22%, indicating strong profitability [10]. Future Growth Potential - The company is well-positioned to benefit from favorable government policies aimed at promoting the development of smart distribution equipment, which is crucial for the safety and efficiency of the power system [11][12]. - The demand for electricity in China continues to grow, with a projected increase in power generation capacity and consumption, creating a favorable environment for investment in distribution network upgrades [13][14].
昊创瑞通：智能配电设备细分龙头 踩中新型电力系统大风口丨IPO黄金眼