JIANGSU TONGRUN(002150)2025-05-28 13:20Group 1: Company Overview - The company underwent a restructuring in 2023, with the controlling shareholder changing from Changshu Jack Factory to Zhejiang Chint Electric Co., Ltd. [3] - The main business has expanded from metal products to include new energy, forming a dual business model with multiple products [3]. - The subsidiary Chint Power, established in 2009, specializes in photovoltaic inverters and energy storage systems, achieving Tier 1 status in Bloomberg's global rankings [3]. Group 2: Business Segments - The metal products segment includes metal tool cabinets and sheet metal work, maintaining a strong industry reputation and stable customer base [3]. - The company has a relatively high proportion of overseas revenue, with significant exposure to the U.S. market, which is affected by recent tariff changes [4]. - The company is adapting to tariff changes by establishing production facilities in Thailand, leveraging lower labor costs for exports to the U.S. [4]. Group 3: Market Outlook - The domestic market is experiencing policy changes that may impact short-term demand for new energy, but long-term growth is expected as the market adapts [4]. - In 2024, China's installed capacity growth is projected to reach a historical high, contributing to a significant global scale [4]. - The company's energy storage business is gradually increasing its revenue share, with expectations for rapid growth in the coming years due to rising market demand [5]. Group 4: Strategic Initiatives - The company plans to adjust product pricing and strategies in response to tariff changes to safeguard performance [4]. - There is a focus on enhancing the energy storage segment, particularly in the Chinese and European markets, to capitalize on emerging opportunities [5]. - The company aims to ensure sustainable growth through a dual-driven strategy of inverters and energy storage systems [5].