Heshun Electric(SZ:300141)2022-12-05 01:38Group 1: Company Overview - The company operates in four main business segments: traditional power distribution, photovoltaic power generation, electric vehicle charging stations, and electricity services [4] - The primary revenue contributors are power distribution, charging stations, and photovoltaic businesses [4] Group 2: Photovoltaic Business - In the first half of 2017, the company implemented approximately 30 MWp of photovoltaic projects, focusing on distributed and EPC models [4] - The company plans to increase its efforts in the photovoltaic sector moving forward [4] Group 3: Charging Station Business - In 2016, the charging station business generated approximately 120 million CNY, with market shares evenly split between grid-connected and non-grid-connected markets [4] - In the first half of 2017, revenue from charging stations was around 55 million CNY, showing a slight decline in market performance [5] - The market for charging stations is expected to recover due to new tenders from the State Grid, increased production and sales of new energy vehicles, and supportive national policies [5] - The company prioritizes the development of high-power fast charging stations, anticipating that fast charging will become the market mainstream [5] Group 4: Subsidiary Performance and Strategy - The subsidiary Su Rong is currently facing challenges due to intensified market competition, impacting overall company performance [5] - The company aims to maintain Su Rong's breakeven status while developing new products and expanding sales channels to improve profit margins [5] Group 5: M&A Strategy - The company is actively exploring opportunities in the external acquisition space, focusing on synergies with existing business operations [5]