Core Viewpoint - The company reported a revenue increase of 24.01% year-on-year for 2024, reaching 3.964 billion yuan, while net profit saw a slight increase of 0.26% to 462 million yuan, indicating stable financial performance despite challenges in traditional markets [2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 3.964 billion yuan, a year-on-year increase of 24.01% [2]. - The net profit attributable to shareholders was 462 million yuan, reflecting a year-on-year growth of 0.26% [2]. - The non-recurring net profit was 448 million yuan, showing a decline of 0.98% year-on-year [2]. - The company proposed a cash dividend of 10 yuan per 10 shares (including tax) [2]. Group 2: Business Segment Performance - The core business segment of explosion-proof electrical appliances generated revenue of 2.506 billion yuan, a decrease of 3.5% year-on-year, primarily due to reduced capital expenditure in the domestic traditional oil and gas sector [3]. - The safety intelligent system within the explosion-proof electrical segment achieved revenue of 362 million yuan, growing over 72% year-on-year, with significant demand in hazardous chemical parks [3]. - The military and nuclear power sectors generated revenue of 135 million yuan, up over 21% year-on-year [3]. - The marine engineering segment reported revenue of 168 million yuan, an increase of 19% year-on-year [3]. - The foreign trade segment of explosion-proof electrical appliances reached a record high of 944 million yuan, growing 35% year-on-year, benefiting from proactive overseas operations [3]. - The professional lighting segment achieved revenue of 279 million yuan, a growth of 3.6% year-on-year, facing pressures from shrinking downstream demand and intensified competition [3]. - The new energy segment saw a remarkable revenue increase of 314.7%, contributing significantly to overall revenue growth [3]. Group 3: Market Expansion Strategies - The company is actively expanding its overseas market presence, with strong demand in international markets, particularly outside North America [4]. - A subsidiary in Saudi Arabia commenced operations in September 2024, focusing on local service provision for major clients like Saudi Aramco [4]. - The company is progressing in Europe, Southeast Asia, and Central Asia, while also planning to establish international operations in Africa and South America [4]. - Domestically, the company is focusing on the Xinjiang coal chemical sector, with significant investment planned from 2025 to 2028, which is expected to drive demand for explosion-proof equipment [4].