国能日新（301162）：主业务保持强势，创新业务助力提升未来业绩上限

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [5]. Core Insights - The company's main business remains strong, with innovative business segments contributing to future performance growth. The report projects revenue growth from CNY 6.95 billion in 2025 to CNY 11.70 billion by 2027, with net profit expected to rise from CNY 1.33 billion to CNY 1.79 billion during the same period [9]. Financial Performance Summary - For the first half of 2025, the company reported total revenue of CNY 321 million, a year-on-year increase of 43.15%, and a net profit of CNY 46 million, up 32.48% [1]. - The projected revenue and net profit figures for the upcoming years are as follows: - 2025E: Revenue CNY 6.95 billion, Net Profit CNY 1.33 billion - 2026E: Revenue CNY 8.95 billion, Net Profit CNY 1.60 billion - 2027E: Revenue CNY 11.70 billion, Net Profit CNY 1.79 billion [9]. - The company's return on equity (ROE) is expected to improve from 10.4% in 2025 to 12.0% in 2027 [9]. Business Segment Performance - The company's power prediction service has seen significant growth, with revenue reaching CNY 205.11 million, a 55.14% increase year-on-year, accounting for 63.96% of total revenue [2]. - The revenue from the company's grid control and renewable energy management systems faced challenges, with a decline in revenue for the smart control products by 4.56% to CNY 51.02 million, representing 15.91% of total revenue [3]. - Innovative business segments, including power trading and virtual power plants, are contributing to revenue growth, with total revenue from these segments at CNY 16.16 million, a 1.53% increase year-on-year [9].