Group 1 - The company achieved an operating revenue of 9.198 billion yuan in 2024, representing a year-on-year growth of 45.94% [1] - The net profit for the year was 1.273 billion yuan, with a year-on-year increase of 1.36% [1] - Earnings per share reached 4.05 yuan, reflecting a growth of 1.50% compared to the previous year [1] Group 2 - The company specializes in the research, production, and sales of high-end equipment, primarily serving the photovoltaic, lithium battery/storage, and semiconductor industries [1] - The company has established long-term cooperative relationships with well-known domestic and international photovoltaic enterprises, including JinkoSolar, Tongwei, Trina Solar, and LONGi Green Energy [1] Group 3 - Orders for energy storage/lithium battery and semiconductor equipment continued to grow, with semiconductor equipment orders exceeding 100 million yuan, indicating rapid growth in this segment [2] - The company invested 430 million yuan in R&D, an increase of 31.49% year-on-year, ensuring ongoing technological innovation [2] - New equipment developed includes BC battery printing equipment and ultra-high-speed 0BB string welding equipment, suitable for N-type battery technology [2] Group 4 - The company is accelerating its international expansion, with products sold to over 40 countries and regions, serving more than 600 production bases globally [3] - A new production base in Malaysia is set to commence operations in 2025, marking the company's first overseas facility [3] - The company plans to distribute a total cash dividend of 504 million yuan to shareholders, reflecting its commitment to sharing development results [3]

Core Viewpoint - The company reported significant revenue growth in 2024, but net profit growth has slowed, indicating challenges in profitability due to declining orders in the photovoltaic industry [1][4]. Group 1: Financial Performance - The company achieved total revenue of 9.198 billion yuan, a year-on-year increase of 45.94% [1]. - The net profit attributable to the parent company was 1.273 billion yuan, reflecting a year-on-year growth of only 1.36% [1]. Group 2: Industry Challenges - The photovoltaic industry faced a notable decline in new orders, with total new orders decreasing by 22.49% year-on-year due to overcapacity and price declines [4]. - Despite a projected global increase in photovoltaic installations of 530 GW, up 35.90%, price wars within the industry have led to losses for many companies [4]. Group 3: New Growth Areas - The company has made significant progress in the lithium battery storage and semiconductor equipment sectors, with the cumulative installed capacity of new energy storage projects in China reaching 73.76 million kW, a year-on-year increase of over 130% [5]. - Orders for semiconductor equipment exceeded 100 million yuan, marking it as a new growth point for the company [5][6]. Group 4: R&D Investment - The company increased its R&D investment, with total R&D expenses reaching 430.36 million yuan, a year-on-year increase of 31.49% [7]. - Despite the growth in R&D expenses, which also included increases in sales and management costs, the overall impact on net profit was negative [7].