Core Viewpoint - Longjin Technology (300594) reported a slight decrease in total revenue for 2024, amounting to 881 million yuan, while focusing on expanding new business areas that have yet to contribute to profits [1] Group 1: Business Performance - The company specializes in the research, production, sales, and maintenance services of air conditioning systems for rail transit vehicles [1] - Longjin Technology's air conditioning business for rail transit vehicles continues to show steady growth, successfully winning several key projects including various metro lines in cities like Shanghai, Shenzhen, and Beijing [1] Group 2: Product Development - The company has produced variable frequency air conditioning products that are operational in 49 cities across 34 provinces, with a total of 30,000 units, saving approximately 37.5 million kWh of electricity annually and reducing carbon dioxide emissions by 37,500 tons [2] - In the field of new energy and intelligent thermal management products, the company is enhancing its integrated thermal management air conditioning systems, which effectively manage cooling and heating needs while recovering heat for winter heating [2] Group 3: Digital Energy and Cooling Solutions - Longjin Technology has leveraged its brand advantages in the energy storage sector to expand its client base, securing orders from major industry players and delivering a leading volume of 5MWh platform products [3] - The newly launched liquid cooling temperature control product series meets extreme environmental requirements, ensuring reliable operation of energy storage systems, with cumulative shipments exceeding 35GWh [3]

Core Insights - The company, Langjin Technology, reported a revenue of 881 million yuan for the year 2024, demonstrating resilience amid a complex economic environment through technological innovation and international expansion [1][2] Group 1: Business Performance - The rail transit vehicle air conditioning segment generated revenue of 584 million yuan, marking a year-on-year growth of 14.18%, accounting for 66.29% of total revenue [1] - The company successfully secured major domestic projects, including the Shanghai Metro Line 13 East Extension and Shenzhen Metro Line 12 Phase II, while also completing overseas orders in Italy and Romania [1] - By the end of 2024, the company had 30,000 rail transit air conditioning units operating online domestically, achieving annual electricity savings of 375 million kWh and reducing carbon dioxide emissions by 375,000 tons [1] Group 2: Technological Development - In the new energy and intelligent thermal management sector, the company is expanding its technology development for integrated thermal management systems, particularly for commercial vehicles [2] - The company has delivered cooling products for several major renewable energy and energy storage projects, with cumulative shipments exceeding 35 GWh [2] Group 3: Future Strategy - For 2025, the company plans to focus on three main areas: rail transit, new energy, and energy storage, with an emphasis on expanding the new energy commercial vehicle market [2] - The company aims to enhance capital operations through methods such as share issuance and strategic partnerships to support technological research and market expansion [2]