Henan Senyuan Electric (002358)2022-12-04 08:28Company Overview - Henan Senyuan Electric Co., Ltd. was established in 1992 and listed on the Shenzhen Stock Exchange in February 2010. The company focuses on the R&D, production, and sales of high and low voltage power distribution equipment, transformers, and new energy generation facilities [4][5]. Financial Performance - As of September 30, 2017, the company achieved a revenue of ¥2,775,386,310.49, representing a year-on-year growth of 25.51%. The net profit attributable to shareholders was ¥414,778,167.68, with a year-on-year increase of 40.30% [5]. Business Development - Since acquiring Zhengzhou Senyuan New Energy Technology Co., Ltd. in 2013, the company has expanded into the new energy sector, focusing on products such as photovoltaic inverters and charging stations [5]. - The company has developed a dual-driven strategy combining the electrical and new energy sectors, which has contributed to sustained performance growth [5]. Market Position and Competition - In the photovoltaic EPC market, the company emphasizes a cooperative model rather than competition, leveraging shared resources in market, procurement, and design [6]. - The company is positioned as a local enterprise with advantages in resource access and a complete industrial chain in both electrical and new energy sectors [6]. Future Strategy - The company plans to expand its presence in the wind power EPC project sector and aims to balance its market focus between domestic and international markets, particularly along the "Belt and Road" initiative [7][8]. - Future growth will be driven by a combination of new energy, electrical sectors, and international trade, with ongoing projects in Southeast Asia and Africa [7]. Group Development Plans - The Senyuan Group, ranked among China's top 500 enterprises, has outlined a strategic plan focusing on six major sectors: electrical, automotive, new energy, modern services, investment finance, and cultural tourism [8]. - The new energy sector currently boasts nearly 800 MW of photovoltaic power, leading in Henan Province, with a focus on distributed photovoltaic generation in the future [8].