"为了方便园区落户企业用电，我们前期主动对接政府相关部门，超前规划电网布局。"国网鄂州市华容 区供电公司相关负责人介绍，根据园区特点，制定供电方案时将电源接入点直接延伸至园区内企业"家 门口"，并在方案中配套园区内开闭所和环网柜。 以往，企业入驻工业园区后，需自行申请高压报装，涉及外线工程建设周期长、投资大。而现在，在政 府的主导下，电力配套工程作为园区公共基础设施的一部分提前建成。企业落户后，只需按需配置内部 变压器，即可实现从环网柜的"即插即用"，真正实现了"拿地即开工，通电零等待"，大幅压缩了项目建 设周期。 "开工前就有电！不仅基础建设高效推进，还为我们节省了不小外线工程费用。"12月17日，在湖北鄂州 市华容区红莲湖半导体产业园的建设工地上，机器轰鸣、塔吊林立，武汉星辰智能电子有限公司项目相 关负责人李俊说。当天，国网鄂州市华容区供电公司营销运维人员走进园区，对前期安装好的电力环网 柜进行例行检查，确保园区内包括武汉星辰智能电子在内的四家新落户企业的基建电源可靠供电。 "我们推行'政府主导、企业零跑腿'的服务模式，将所有的外线工程纳入政府基础设施建设范畴，由我 们'前置代办、全程包办'。"鄂州市华容 ...

Investment Rating - The report suggests to pay attention to the company due to its increasing influence in overseas markets and the growing demand for smart metering products driven by the replacement cycle [4]. Core Viewpoints - The company, Kaifa Technology, is a leader in smart energy metering, focusing on intelligent and digital energy management solutions, with a strong presence in overseas markets [1][8]. - The global smart metering market is expected to reach USD 36.39 billion by 2028, with a compound annual growth rate (CAGR) of 9.5%, indicating significant growth potential for the company [2]. - The company has a strong market position in Europe, with its market share increasing from 9.46% in 2021 to 12.14% in 2023 [3]. Company Overview - Kaifa Technology specializes in smart metering solutions, including smart electricity, water, and gas meters, as well as AMI system software [1][8]. - The company was established in 2016 and has a history of over 20 years in the smart metering industry, having participated in significant projects in Europe [9]. - The company’s revenue is primarily derived from overseas sales, with 92.15% of its revenue coming from international markets in the first half of 2024 [32]. Financial Performance - The company forecasts revenue and net profit for 2024 to be approximately CNY 29.33 billion (+15.02%) and CNY 5.88 billion (+20.64%), respectively [1]. - In the first half of 2024, the company achieved revenue of CNY 12.98 billion, with a gross margin of 37.35% [39]. - The company’s main products, smart meters and their core units, accounted for 98.52% of its revenue in the first half of 2024 [39]. Market Dynamics - The global trend towards building smart energy systems and new power systems is driving demand for smart metering infrastructure [2]. - The company is well-positioned to benefit from the ongoing replacement cycle of smart meters, particularly in regions where demand is strong [2][3]. - The company plans to invest CNY 1.017 billion in projects that are expected to enhance its performance [3]. Competitive Positioning - The company’s P/E ratio for 2024 is estimated at 14.27X, compared to the industry average of 18.22X for 2023, indicating potential undervaluation [4]. - The company has established stable relationships with major power companies and contractors, which supports its revenue stability [28].