ZHEZHONG(002346)2025-05-14 06:50Group 1: Company Performance and Industry Outlook - The overall performance of the power industry is expected to benefit from the steady growth in electricity consumption and grid investment, with the manufacturing sector of power distribution and control equipment poised to gain from this trend [2][3] - The company aims to enhance operational efficiency and management practices while cautiously exploring strategic directions for transformation and upgrading [3][4] - Recent net profits over the last three years totaled 821 million CNY, accounting for 28.39% of the company's net assets by the end of 2024 [6] Group 2: Share Repurchase and Market Confidence - The company plans to use the 300 million CNY share repurchase for employee stock ownership plans or incentive programs, with unutilized shares to be canceled if not used within 36 months [3][4] - The company’s actual controller and supervisor have shown confidence in the company's long-term investment value by increasing their shareholdings multiple times in 2024 to boost market confidence [4][5] - The share repurchase plan is set to be executed within 12 months from the approval date by the shareholders' meeting, with ongoing updates to be provided [6] Group 3: Investment and Future Strategies - The company has a high balance of external investments, which have yielded some returns but also carry risks such as long payback periods and low liquidity [4] - There are currently no major plans for mergers or acquisitions, but the company will fulfill disclosure obligations if significant transactions arise in the future [4][5] - The company’s main business remains focused on general power distribution equipment, with key clients in integrated circuits, state grid, urban rail transit, and airport railways [6]