Core Viewpoint - Haixing Electric Power aims to enhance digital transformation and energy structure upgrades for global electricity customers, achieving a revenue of 4.717 billion yuan with a year-on-year growth of 12.3% and a net profit of 1.002 billion yuan, marking four consecutive years of growth [1] Group 1: Business Performance - The smart distribution and utilization business, as the core segment, generated a revenue of 4.535 billion yuan, up 13.35% year-on-year, with overseas revenue at 2.940 billion yuan (up 9.77%) and domestic revenue at 1.595 billion yuan (up 20.61%) [1] - The company has established nine overseas production bases and over 30 branches, covering more than 110 countries and regions, making it the domestic leader in overseas market coverage [2] - In the domestic market, Haixing Electric Power won bids totaling 1.123 billion yuan for energy metering and collection equipment, reflecting a year-on-year increase of 27.98% [2] Group 2: New Energy Business - The new energy segment generated a revenue of 143 million yuan, down 12.32% year-on-year, but the company continues to enhance its product system, offering comprehensive solutions including charging piles, inverters, and energy management systems [2] - The company is strengthening its capabilities in system design and local implementation for commercial microgrids, accelerating project deployment across Asia, Africa, Latin America, and Europe [3] - The integration of new energy and distribution business is part of the company's strategy to improve global delivery efficiency and systematic service capabilities [3]