HTGD(SH:600487)2024-10-10 07:35Group 1: Company Performance and Financials - In H1 2024, the company achieved a revenue of 26.614 billion RMB, a year-on-year increase of 14.83% [3] - Net profit attributable to shareholders reached 1.609 billion RMB, up 28.80% year-on-year; net profit excluding non-recurring items was 1.515 billion RMB, a 25.82% increase [4] - The company has a backlog of orders amounting to approximately 21 billion RMB in energy interconnection fields and 5.5 billion RMB in marine communication [9] Group 2: Strategic Focus Areas - The company is advancing its core industries in communication and energy, focusing on high-end products such as ultra-low loss optical fibers and special cables [4] - It is actively involved in the development of smart grids and offshore wind energy, enhancing its market position and service capabilities [5] - The company has established 12 overseas industrial bases, expanding its global footprint across five continents [6] Group 3: Research and Development - R&D investments are directed towards 5G optical communication, high-capacity underwater cable systems, and offshore wind energy technologies [7] - The company is a key supplier for multi-core fiber projects, contributing to the commercialization of advanced optical technologies [10] Group 4: Market Opportunities and Future Plans - The company is positioned to benefit from the anticipated growth in offshore wind energy, with a projected addition of 410 GW of capacity globally from 2024 to 2033 [14] - It aims to enhance its capabilities in marine energy and communication, focusing on high-reliability underwater cable solutions [12] - The company plans to leverage its expertise in system integration to transition from a product supplier to a comprehensive service provider in the energy interconnection sector [19] Group 5: Financial Management and Shareholder Value - The company completed a share buyback of 8,436,800 shares for a total of 99.99 million RMB, with plans for further buybacks totaling between 100 million and 200 million RMB [15] - The average financing cost is approximately 2.8%, which is favorable compared to market rates [16] - The company employs hedging strategies to mitigate risks associated with raw material price fluctuations [16]