Meeting Overview - The company held a performance briefing for the fiscal year 2024 and the first quarter of 2025 on May 13, 2025, via an online interactive platform [1] - Key executives, including the chairman and general manager, participated in the meeting to discuss operational results and financial metrics with investors [1] Company Performance - In 2024, the company achieved a revenue of 498,526.07 million yuan, representing a year-on-year increase of 15.12% [2] - The net profit attributable to shareholders was 19,630.47 million yuan, showing a significant growth of 79.05% compared to the previous year [2] - The net profit for shareholders reached 3,664.31 million yuan, with an increase of 11.47% year-on-year [2] Order Backlog and Market Expansion - As of the end of 2024, the company had a substantial order backlog amounting to 7.985 billion yuan, providing a stable foundation for future operational growth [2] - The company has expanded its overseas market presence, with digital energy products shipped to 54 countries and regions, and new products operational in 8 countries [2] Strategic Initiatives - The company is focused on enhancing its innovation capabilities and aligning with national policies and industry trends to achieve high-quality development [2] - Plans include optimizing market structure, strengthening collaboration with high-value customers, and expanding into the renewable energy sector [2][3] Financial Management and Debt Strategy - The company maintains a debt ratio above 60%, attributed to significant investments in digital factories and high-end equipment bases [3] - Strategies to reduce the debt ratio include improving operational management, accelerating accounts receivable collection, and broadening financing channels [3] Industry Outlook - The new power system is rapidly developing, with total investments in the grid expected to exceed 825 billion yuan by 2025, focusing on flexible, intelligent, and digital transformations [4]