XJEC(SZ:000400)2024-09-06 09:47Group 1: Financial Performance - In the first half of 2024, the company achieved operating revenue of 6.836 billion yuan, with a gross profit margin of 20.90% and a net profit attributable to shareholders of 628 million yuan, representing a year-on-year growth of 10.35% [1] - The decrease in revenue in the first half of the year was primarily due to the timing of order conversion, while the company focused on cost reduction and efficiency improvement, leading to a steady increase in gross profit margin [2] Group 2: Project Updates - The company has not yet recognized revenue from the Three Gorges Yangjiang Qingzhou offshore wind power project, which is still in progress [1] - The company is tracking several high-voltage projects, including Gansu-Zhejiang, Inner Mongolia-West Beijing-Tianjin-Hebei, and Guangdong back-to-back projects [2] Group 3: Market Expansion and Orders - The smart meter segment's revenue growth is mainly attributed to market expansion and the acquisition of new orders, with the company securing approximately 1.118 billion yuan from the State Grid's procurement [2] - The company plans to expand its market presence in regions such as South America, the Middle East, Southeast Asia, Africa, and Europe, leveraging strategies like independent bidding and capacity cooperation [2] Group 4: Cash Flow and Financial Management - The net cash flow from operating activities decreased compared to the same period last year, primarily due to an increase in payments for purchased goods [3]