双业务驱动 锦浪科技前三季度营收净利润双增长

Core Viewpoint - Jinlang Technology Co., Ltd. reported a revenue of 5.663 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 9.71%, and a net profit attributable to shareholders of 865 million yuan, up 29.39% year-on-year [2] Financial Performance - The company achieved a revenue of 5.663 billion yuan in the first three quarters of 2025, with a net profit of 865 million yuan [2] - Year-on-year growth rates for revenue and net profit were 9.71% and 29.39%, respectively [2] Business Segments - The core business of the company is the photovoltaic inverter segment, which is crucial for the efficiency and stability of photovoltaic power generation systems [2] - The company has focused on technological research and development, resulting in a series of proprietary core technologies [2] - The distributed photovoltaic power generation business is seen as a growth driver, allowing the company to transition from a core equipment supplier to a comprehensive energy solution provider [3][4] Market Position and Strategy - The company's inverters have market advantages in conversion efficiency and power quality, with a significant share in the domestic market and ongoing expansion into global markets [3] - The company has optimized its inverter product structure, increasing the proportion of high-tech and high-value-added products, including medium and large power inverters and energy storage products [3] Project Development - As of June 30, 2025, the company had a cumulative installed capacity of 1,329.52 MW in renewable energy power production, primarily in East, Central, and South China [4] - The company is actively developing and operating distributed photovoltaic power station projects across multiple provinces in China [4] Synergy and Growth Potential - The two core businesses of photovoltaic inverters and distributed photovoltaic power generation create a synergistic effect, enhancing the company's overall risk resistance and driving performance growth [4] - The company plans to raise 1.677 billion yuan through a convertible bond issuance to invest in various projects, including high-voltage large power inverters and energy storage inverters [4][5]