证券日报网讯科陆电子（002121）11月21日发布公告，在公司回答调研者提问时表示，公司聚焦核心主 业，大力开拓国内外储能市场，具体订单情况请关注公司相关公告及定期报告。 ...

Core Viewpoint - The company is enhancing collaboration with its leading domestic partner in energy storage integration, leveraging its advantages in IGBT supply and domestic capabilities to expand its market presence in the energy storage PCS sector [1] Group 1: Company Strategy - The company is focusing on strengthening its collaboration with Zhuzhou, the top-ranked domestic energy storage integration business [1] - It aims to utilize its self-developed IGBT supply advantages and domestic production capabilities to create differentiated technological advantages in high-voltage PCS [1] - The company is also leveraging the cooperation established by CRRC New Energy with state-owned power generation groups to accelerate comprehensive collaboration with system integrators [1] Group 2: Market Expansion - The company is committed to fully exploring the energy storage PCS market [1]

Core Viewpoint - The article discusses the growth and strategic developments of Shangneng Electric in the energy storage sector, highlighting its overseas expansion and product diversification efforts. Group 1: Company Performance - Shangneng Electric secured a framework supply agreement for 750MW of energy storage products with Europower Enerji, enhancing its presence in the Turkish and Eurasian markets [1] - In 2024, the company reported a revenue of 4.773 billion yuan, a decrease of 3.23% year-on-year, primarily due to reduced domestic energy storage system integration business [5] - The net profit attributable to shareholders reached 419 million yuan, a significant increase of 46.49% year-on-year, driven by rapid growth in overseas solar-storage business [5] Group 2: Revenue Growth and Projections - The company's energy storage business revenue grew from 19 million yuan in 2019 to 1.927 billion yuan in 2023, with a compound annual growth rate (CAGR) of 151.92% [8] - In Q1 2025, Shangneng Electric achieved a revenue of 831 million yuan, a year-on-year increase of 16.78%, and a net profit of 87.65 million yuan, up 71.56% year-on-year [11] Group 3: Product and Market Strategy - The company’s energy storage product matrix includes centralized and string inverters, with a power range from 100kW to 12.5MW, and solutions for microgrids and grid-connected systems [12] - The company plans to launch a home storage integrated machine by the end of 2024, expecting significant contributions from overseas home storage business in 2025 [14] - Shangneng Electric aims to increase the share of energy storage revenue to over 50% by 2025, up from 40.4% in 2024, while also focusing on technological innovation and cost reduction [15][16] Group 4: Global Market Expansion - The company is actively expanding its global market presence, with plans to increase overseas revenue share to over 40% by 2025, up from 24.38% in 2024 [16] - Significant progress has been made in various regions, including securing a 140.8MW supply for a U.S. project and collaborating on a 24GWh storage plan in Saudi Arabia [15]