宏盛华源预中标5.84亿国网项目 降本增效前三季扣非增88.93%

Core Viewpoint - Hongsheng Huayuan, the largest transmission line tower supplier in China, announced a pre-bid win of approximately 584 million yuan in the State Grid's procurement for 2025, which is expected to positively impact the company's performance [1][2]. Group 1: Company Performance - In the first three quarters of 2025, Hongsheng Huayuan achieved a net profit attributable to shareholders of 283 million yuan, representing a year-on-year increase of 58.54% [3][4]. - The company's gross profit margin for the first three quarters of 2025 was 12.13%, an increase of 3.02 percentage points compared to the same period last year [4]. - For the full year of 2024, the company reported a revenue of 10.139 billion yuan, a year-on-year growth of 9.07%, and a net profit of 230 million yuan, up 85.52% [3]. Group 2: Market Position and Orders - As of the end of September 2025, Hongsheng Huayuan had a contract liability balance of 490 million yuan, an increase of 32.4% from the end of 2024, indicating a strong order backlog [3]. - The company secured a total of 7.109 billion yuan in bids in the first half of 2025, a year-on-year increase of 47.25%, with domestic bids amounting to 5.884 billion yuan, up 68.19% [3]. Group 3: Technological Advancements - Hongsheng Huayuan has invested significantly in R&D, with expenditures increasing from 52.17 million yuan in 2021 to 121 million yuan in 2024, reflecting a commitment to innovation [7]. - The company has implemented advanced manufacturing technologies, including automated systems and intelligent production lines, enhancing production efficiency and safety [6][7]. Group 4: Industry Standing - Hongsheng Huayuan is recognized as a "national team" in the domestic transmission line tower manufacturing industry, with leading production capacity and technology levels [1][6]. - The company has participated in all major ultra-high voltage projects in China, establishing a strong technical foundation and industry recognition [6].