Acrel(SZ:300286)2024-05-27 12:00Investment Rating - The report indicates a positive investment outlook for the company, highlighting continuous revenue and profit growth over the past five years, with a significant increase in overseas sales revenue [1][21]. Core Insights - The company has achieved a revenue growth of 10.2% year-on-year in 2023, with a non-recurring net profit growth of 19% [20]. - The overseas business has seen remarkable growth, with overseas revenue reaching 33.114 million yuan in 2023, marking a year-on-year increase of 128.1%, approximately ten times that of 2021 [21]. - The company is actively expanding its overseas market presence, particularly in Southeast Asia and Europe, with a focus on building a business team in Singapore to facilitate this expansion [4]. Summary by Sections Revenue and Profit Growth - The company has reported a revenue increase of 5.07% year-on-year in Q1 2024, and a non-recurring net profit increase of 9.06% [3]. - The company has maintained a consistent revenue and profit growth trajectory for five consecutive years [1]. Product Ecosystem - The company offers a comprehensive product ecosystem that includes enterprise microgrid energy management systems and power sensors, forming a complete "cloud-edge-end" product structure [2]. Market Expansion - The company has intensified its efforts in overseas market development since 2023, focusing on regions such as Southeast Asia and Europe [4]. - The company aims to cultivate a virtual power plant industry ecosystem through the establishment of a holding subsidiary, enhancing its industrial layout [8]. Financial Performance - The company has shown stable dividend performance, with a dividend payout ratio increasing to 32% in 2023 [34]. - The company's stock ranking has improved, currently positioned at 597 among peers [5][36].