Zhejiang Wellsun Intelligent Technology (SZ:300882)2025-05-09 12:45Business Overview - The company operates in four main sectors: smart metering, smart IoT, smart distribution network, and smart energy [3][4] - Key products include smart electric meters, power information collection devices, communication modules, and energy management systems [3][4] Financial Performance - In 2024, the company achieved revenue of CNY 93,738.69 million, a decrease of 16.26% year-on-year [3][4] - Operating profit was CNY 13,319.63 million, and net profit attributable to shareholders was CNY 11,891.71 million, down 53.81% and 52.45% respectively [3][4] - Total assets at the end of the reporting period were CNY 157,122.56 million, a decline of 0.65% from the previous year [3][4] - Shareholder equity was CNY 116,072.49 million, down 0.32% year-on-year [3][4] Revenue Breakdown - Smart metering business generated revenue of CNY 76,000.09 million, down 26.57% [4] - Smart distribution network business saw revenue of CNY 6,755.86 million, an increase of 46.65% [4] - Other business revenue reached CNY 10,982.74 million, up 187.37% [4] R&D Investment - R&D expenditure for 2024 was CNY 8,312.77 million, a 41.95% increase, representing 8.87% of total revenue [4][5] - The company holds a total of 191 patents, including 75 invention patents [5] Orders and Market Position - As of March 31, 2025, the company had a backlog of orders amounting to CNY 129,943.22 million [6] - The company is not in a loss position despite revenue declines, attributed to various market factors [6] Future Development Goals - The company aims to strengthen its core business in smart metering and expand into digital economy and renewable energy sectors [7][8] - Plans include enhancing product quality, expanding market share, and improving internal management processes [7][8] Market Outlook - The government is increasing support for smart grid construction, providing a favorable environment for market growth [7][8] - Policies are being implemented to promote the digitalization and intelligent transformation of energy systems [7][8]