SESPACE(SZ:002135)2025-05-08 01:12Group 1: Business Performance - In Q1 2025, the company achieved revenue of CNY 2,437,451,945.75, a decrease of 18.94% year-on-year [7] - The net profit attributable to shareholders was CNY 46,902,034.90, down 47.44% compared to the same period last year [7] - New signed orders from January to March 2025 totaled 36 projects, with a contract amount of CNY 246,811.38 million, representing a year-on-year growth of 1.48% [5] Group 2: Renewable Energy Initiatives - In 2024, the company generated a total electricity output of 42 million kWh from photovoltaic projects, with revenue from electricity sales amounting to CNY 27.32 million [1][10] - The company plans to expand its photovoltaic projects beyond Zhejiang, with operations in Guangzhou, Guangxi, and Jiangsu [1] - The company is implementing a construction model of "prefabricated + EPC + BIPV" and an integrated operation model of "investment, construction, and operation" [10] Group 3: International Expansion - The company has implemented an international strategy featuring four alliances: partner, industry, brand, and credibility alliances, focusing on regions like South America, North America, the Middle East, and Southeast Asia [2][4] - In 2024, the total contract amount for overseas orders reached CNY 1,230.06 million, accounting for 14.68% of the total new signed orders [4] Group 4: Shareholder Returns and Stock Buyback - The company has repurchased a total of 50,049,946 shares, with a total repurchase amount of CNY 280,050,830.69 [3] - For 2024, the total cash dividend distribution is expected to be CNY 78,086,149.82, with a total stock buyback amount of CNY 144,554,717.47, together accounting for 116.90% of the net profit attributable to shareholders [12] Group 5: Financial Management and Risk Mitigation - The company emphasizes the collection of accounts receivable, primarily from government and large state-owned enterprises, with low risk of bad debts [6][12] - The company is actively managing cash flow and has increased debt financing to enhance overall fund utilization efficiency [9][12] Group 6: Future Development Plans - The company plans to implement the "EPC general contracting + No. 1 project" dual-engine development strategy in 2025, focusing on high-end and specialized market segments [6] - The company aims to explore suitable merger and acquisition targets in line with its valuation enhancement plan [6]