本报讯 （记者刘钊）近日，山西高速集团股份有限公司（以下简称"山西高速"）发布2024年年度报 告。公告显示，2024年公司实现营业收入16.09亿元，实现归母净利润4.66亿元，扣除非经常性损益后的 归母净利润4.63亿元。 山西高速同时披露了2024年度利润分配预案，公司拟向全体股东每10股派发现金股利2元（含税），预 计派发金额为2.93亿元，占归母净利润的73.2%。 作为山西省交通系统唯一上市公司，山西高速近年来经营业绩稳健、资产负债率合理、偿债能力较强， 2024年的主体信用评级AA+。公司间接控股股东为山西省交通领域大型国有企业，高速公路路产及沿 线资源在省内处于领先地位，资产规模和产业优势为公司未来业务的发展提供了必要支撑，为公司高速 公路相关业务提供了广阔发展空间。2024年公司，公司实施太原高速公路管理有限公司100%股权收购 工作，实现环太原服务区资产证券化新的突破，由此公司旗下再添一家全资子公司。 年报显示，山西高速资产业绩优良，现金流稳定。公司所辖平榆高速、榆和高速两条高速公路和太佳黄 河桥是晋煤外运的主要通道，车流量大，属于山西省经营性高速公路中的优质资产，单公里收费和盈利 能力居 ...

Core Viewpoint - The performance report of Shango New Energy for 2024 reveals surprising results, with revenue reaching 4.423 billion RMB and net profit at 463 million RMB, reflecting a year-on-year growth of approximately 32% [1] Group 1: Performance Highlights - Shango New Energy's revenue and net profit exceeded market expectations, with previous forecasts estimating revenue at around 4.4 billion RMB and net profit at approximately 410 million RMB [1] - The company demonstrated strong resilience despite challenges such as wind and solar power curtailment and fluctuating electricity prices, achieving steady revenue growth and rapid profit increase [1] Group 2: Business Structure and Strategy - The structural adjustment of the business layout was key to stabilizing revenue, with wind power business achieving significant growth, offsetting a decline in solar power revenue [3] - Wind power revenue reached 1.187 billion RMB, a year-on-year increase of 24.2%, accounting for 26.8% of total revenue, up 5.5 percentage points from the previous year [3] - The company strategically shifted focus to wind power projects, successfully bidding for multiple wind power projects, laying a foundation for future growth [3] Group 3: Financial Strategy - Shango New Energy's innovative financial strategies contributed to the increase in net profit, with financial expenses decreasing by 16% to 1.147 billion RMB and the financial expense ratio dropping from 30.6% to 25.9% [4] - The company utilized innovative financing tools and optimized debt structure to reduce costs, maintaining stable growth despite subsidy reductions in the industry [4] Group 4: Operational Efficiency - The implementation of an AIoT-based smart operation and maintenance platform enhanced operational efficiency, leading to cost reduction and improved power generation efficiency [5] Group 5: Strategic Ecosystem Development - Shango New Energy is transitioning from a single power generation competition to a comprehensive energy service model, focusing on the entire lifecycle value creation [6] - The company is building an energy service ecosystem covering "source-network-load-storage" through technology collaboration and application scenario expansion [7][8][9] Group 6: ESG Performance and Global Expansion - The company has integrated ESG principles into its core strategy, achieving significant results, including a total operational power generation of approximately 6.52 billion kWh, a year-on-year increase of 4.6% [10] - Shango New Energy is expanding its global footprint, particularly in Southeast Asia, South Asia, and the Middle East, leveraging its strong ESG performance to enhance international business opportunities [11][12] Group 7: Market Valuation and Investment Potential - As of December 31, 2024, Shango New Energy had cash and cash equivalents of approximately 3.646 billion RMB, with a current ratio of 1.87, while its market capitalization was around 3.5 billion RMB [13] - The significant discrepancy between market valuation and actual cash reserves indicates a potential undervaluation, suggesting an opportunity for investors [13][14]