Core Insights - The company reported a total revenue of 4.479 billion yuan in 2024, a year-on-year decrease of 5.24% [1] - The net profit attributable to shareholders was -250 million yuan, a decline of 141.44% year-on-year, while the net profit excluding non-recurring items was -278 million yuan, down 152.14% [1] - The significant drop in financial performance was largely attributed to the restructuring and divestiture of non-core businesses [4] Financial Impact of Non-Core Business Divestiture - The divestiture of non-core businesses such as set-top boxes, digital cities, digital foreign trade, and industrial internet resulted in a one-time financial impact of approximately 488 million yuan, including goodwill impairment and the capitalization of prior costs [4] - Despite the management's assertion that the financial indicators of core businesses in energy digitalization and energy internet remained stable, the short-term financial pressure is still significant [4] - The operating cash flow for the reporting period was 555 million yuan, reflecting a year-on-year decrease of 15.84%, indicating challenges in cash flow management [4] Performance in Energy Digitalization - Revenue from the energy digitalization sector decreased by 7.51% to 2.147 billion yuan, primarily due to the revenue decline during the restructuring process [5] - The company has made significant investments in technological innovation, shifting its technical architecture to "cloud + AI," but this has not yet translated into revenue growth [5] - Future revenue recovery will depend on the company's ability to leverage technological innovation and expand into new business areas [5] Growth in Energy Internet Sector - The energy internet business achieved a revenue of 1.804 billion yuan in 2024, marking a year-on-year growth of 17.63% [6] - Key achievements include over 500 million users for utility payment services and nearly 20 million daily active users, as well as significant growth in the new electric vehicle charging business [6] - The company has also made strides in virtual power plants and market transactions, with a total trading volume exceeding 1.9 billion kWh, representing a growth of over five times year-on-year [6] Overall Outlook - The company faces considerable financial pressure in 2024 but has made notable progress in the energy internet sector through a focus on core businesses and increased investment in technology [6] - The ability to achieve sustainable development will depend on the dual drivers of energy digitalization and energy internet [6]

Overview - The report provides insights into the development prospects and strategic recommendations for China's Smart Energy Management System (SEMS) industry from 2025 to 2031 [1][3]. Chapter Summaries Chapter 1: Overview of Smart Energy Management System (SEMS) - Defines SEMS and outlines its regulatory framework, including industry authorities and self-regulatory organizations in China [3][4]. - Discusses international and Chinese standards related to SEMS [4]. Chapter 2: Current Status of SEMS and Energy Digital Transformation - Analyzes the current state of energy production, supply, and consumption in China, highlighting industry pain points [4][5]. - Emphasizes the necessity of energy digital transformation and the role of smart grids and energy internet in this process [5][6]. Chapter 3: Global Development of SEMS - Reviews the global energy industry's current status and the necessity for smart energy development, including environmental concerns and traditional grid limitations [5][6]. - Discusses the historical development and strategic pathways of global smart energy systems [6][7]. - Provides an overview of the SEMS market size and regional development patterns [6][7]. Chapter 4: Current Status and Challenges of SEMS in China - Details the development history and market participants in China's SEMS sector, including the number of enterprises and their capital distribution [7][8]. - Analyzes the competitive landscape and market scale of SEMS in China [8][9]. Chapter 5: Key Technologies and Emerging Applications - Outlines the technological roadmap for SEMS, including core technologies and the integration of emerging technologies like edge computing and big data [8][9]. - Discusses R&D investments and outputs in the SEMS sector [9][10]. Chapter 6: SEMS Architecture and System Design - Describes the construction goals and basic architecture of SEMS, including its software and application architecture [10][11]. Chapter 7: Application Scenarios and Effects of SEMS - Identifies various application scenarios for SEMS, including smart parks and factories, and assesses their market potential [11][12]. Chapter 8: Case Studies of SEMS Enterprises - Compares global and Chinese SEMS enterprises, analyzing their market demand and application status [12][13]. Chapter 9: Policy Environment and Development Potential - Summarizes national and provincial policies affecting SEMS development and evaluates the potential for growth in the sector [20][21]. Chapter 10: Market Outlook and Development Trends - Predicts future growth points and trends in the SEMS market, emphasizing market scale expansion and technological innovation [21][22]. Chapter 11: Investment Strategies and Recommendations - Discusses barriers to entry and exit in the SEMS market, along with investment opportunities and strategies for sustainable development [22][23].

文/梧桐兄弟 12月23日，朗新集团（300682）收购邦道科技有限公司（"邦道科技"）事宜上会审核，结果为审核通过。 二、交易方案进行过两次调整，交易对价3.24亿元 本次交易前，上市公司已持有邦道科技90.00%股权，并将其纳入合并报表范围。本次重组完成后，上市公司将实现对邦道科技100.00%的控制，标的资产评估作价 情况如下： | 交易标的 | 基准日 | 评估 | 评估结果 增值率 | 本次拟交易 | | 其他 | | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 方法 | | 日日午 4 | | 说明 | | 邦道科技 | 2023 年 10月 31 日 | 收益法 | 324,278.71 122.41% | 10.00% | 32.400.00 | 元 | 朗新集团拟通过发行股份及支付现金方式购买无锡朴元持有邦道科技10.00%股权，重组方案概况如下： | 交易形式 | 发行股份及支付现金购买资产 | | | | | --- | --- | --- | --- | --- | | 交易方案简介 | 上市公司拟通过发行股份及支付现金方式购买 ...

证券简称： 许昌智能 证券代码： 831396 许昌智能继电器股份有限公司 许昌市中原电气谷许继集团新能源产业园 许昌智能继电器股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 保荐机构（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 1-1-1 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人的投 ...