Core Viewpoint - Guodian NARI Technology Co., Ltd. has achieved record highs in operating revenue, net profit, and total assets in 2024, demonstrating strong profitability and a positive development trend [1][3]. Group 1: Financial Performance - In 2024, Guodian NARI achieved operating revenue of 57.417 billion yuan, a year-on-year increase of 11.15% [1]. - The net profit attributable to shareholders reached 7.610 billion yuan, reflecting a year-on-year growth of 6.06% [1]. - By the end of 2024, the net assets attributable to shareholders were 49.224 billion yuan, and total assets were 92.705 billion yuan, representing increases of 4.31% and 7.52% respectively [1]. Group 2: Business Segments - The company focuses on four major industrial clusters: smart grid, digital energy integration, low-carbon energy, and industrial interconnection, with grid business as the core [1][2]. - The digital energy integration segment generated revenue of 12.36 billion yuan in 2024, up 11% year-on-year, with a gross margin of 22.4% [2]. - Emerging businesses saw rapid growth, with related revenue increasing by 36.24% year-on-year [2]. Group 3: International Expansion - Guodian NARI's international business achieved revenue of 3.279 billion yuan in 2024, a significant year-on-year increase of 135% [2]. - The company is focusing on expanding its business in Southeast Asia, the Middle East, Central Asia, and Latin America, while also exploring opportunities in Europe related to grid infrastructure upgrades and renewable energy projects [2]. Group 4: Industry Insights - Experts highlight the importance of digital energy integration for energy and power companies, noting that Guodian NARI's practices can enhance the intelligence of power systems and improve operational efficiency [3]. - The integration of digital technology with energy business is seen as a way to open new growth points and enhance market competitiveness for energy companies [3].

Core Viewpoint - State Grid Corporation of China held its first collective performance briefing for its listed companies, showcasing high-quality development achievements and emphasizing innovation in the new power system construction [1] Group 1: Financial Performance - In 2024, the company achieved a record high in total assets, operating revenue, and net profit, with operating revenue reaching 57.417 billion yuan, a year-on-year increase of 11.15%, and net profit attributable to shareholders of 7.610 billion yuan, up 6.06% [1] - The company has been recognized as a benchmark for "scientific and technological reform enterprises" by the State-owned Assets Supervision and Administration Commission and has maintained an A-class rating for information disclosure from the Shanghai Stock Exchange for ten consecutive years [1] Group 2: Strategic Layout - The company has established four major industrial clusters: smart grid, digital energy integration, low-carbon energy, and industrial interconnection, with a focus on grid business as the foundation and external and overseas businesses as growth areas [2] - Core product advantages in new generation dispatching, ultra-high voltage, and digitalization of grid production have been further highlighted, enhancing market competitiveness in new energy, industrial control, and microgrid businesses [2] Group 3: Technological Innovation - The company has built a research and development system that integrates research with application, strengthening foundational research capabilities and continuously producing significant innovations such as domestically produced direct current control systems and ultra-high voltage converter valves [2] - The company has led the formulation of four international standards and seven national industry standards, enhancing its influence and voice in the industry [2] Group 4: Management and ESG Practices - The company has initiated quality improvement and efficiency enhancement actions, implemented a talent empowerment plan, and advanced lean production management, achieving strong core performance indicators compared to peers [2] - The company has established a scientific and efficient governance system and a green production system, releasing social responsibility reports for 13 consecutive years and demonstrating its commitment to corporate social responsibility [2] Group 5: Shareholder Returns and Mechanism Reform - The company has actively implemented cash dividends, with a cumulative dividend of 18.6 billion yuan since its listing, maintaining a high dividend payout ratio of 60% for 2023 and 2024 [3] - The company has initiated share buybacks to boost market confidence, with a buyback amount of 386 million yuan in 2024 and a new round of buybacks starting in April 2025 [3] - The company aims to deepen reforms to stimulate innovation and enhance governance, positioning itself as a leader in the energy internet sector through technological innovation and diversified development [3]