Core Viewpoint - 合康新能 reported a significant revenue growth of 220.31% in 2024, driven by its green energy segment, which saw an increase of over 500% [1] Group 1: Financial Performance - The company achieved an operating revenue of 4.776 billion yuan in 2024, with a net profit of 10.2961 million yuan, marking a turnaround from losses [1] - Operating cash flow reached a historical high of 306 million yuan, marking seven consecutive years of net inflow [1] - The asset turnover ratio was 1.22, the highest since 2008 [1] Group 2: Business Segments - The green energy solutions segment generated 3.778 billion yuan in revenue, reflecting a 524% year-on-year increase [1] - The household energy storage business achieved revenue of 137 million yuan, a growth of 303% [2] - The high-voltage frequency converter segment reported revenue of 547 million yuan, with a 9% increase and a gross margin of 30.30%, up 11.37 percentage points from the previous year [3] Group 3: Strategic Initiatives - The company leveraged Midea Group's brand for its photovoltaic inverter products, enhancing market access [2] - Collaboration with Midea Group's building technology division is aimed at accelerating the reach of household storage products [2] - The company is focusing on high-margin industries like nuclear power for its high-voltage frequency converters, avoiding low-price competition [3] Group 4: Research and Development - R&D expenses increased by 117.22% to 320 million yuan, with 348 new patent applications, including 139 invention patents [3] - The company launched its first generation of self-developed household storage products, achieving high safety certification [3] - Ongoing development includes third-generation household storage and intelligent energy management systems [4] Group 5: Future Outlook - The company aims to focus on "concentration, accumulation, and breakthrough" strategies for high-quality development in its main business areas by 2025 [5]