Group 1 - The core viewpoint of the article highlights that QX Electric is expected to achieve a revenue of 17.089 billion yuan and a net profit of 1.117 billion yuan in 2024, representing a year-on-year growth of 11.09% [1] - In Q1 2025, QX Electric is projected to generate a revenue of 2.348 billion yuan and a net profit of 208 million yuan [1] - The company is optimizing its revenue structure, with a decline in low-margin renewable energy and system integration segments, while the high-margin DC transmission segment is experiencing growth [1] Group 2 - The increase in gross margin is attributed to product structure optimization and cost reduction efforts, although the period expense ratio has risen due to increased sales and R&D investments [1] - QX Electric has won multiple State Grid DC transmission projects, with growing orders in the Southern Grid market, and has invested 880 million yuan in R&D, focusing on key technologies such as offshore wind DC transmission systems [1] - The company is implementing its "Belt and Road" strategy to expand into markets in South America, the Middle East, Southeast Asia, Africa, and Europe, promoting international product transformation and certification [1]