Shenzhen Energy Report | Shenzhen Energy Group: Wind Power and Solar Power Revenue Growth
On April 29, 2025, Shenzhen Energy Group (000155) released its 2024 annual report. In 2024, the company’s total revenue was 30.55 billion yuan, representing a 7.79% decrease compared to the previous year. The net profit attributable to shareholders was 7.27 billion yuan, down by 8.85%. The profit margin was 6.96 billion yuan, which is a 8.62% decline. Basic earnings per share were 0.42 yuan, with an average return on equity of 8.13%.
According to prior data, Shenzhen Energy Group has experienced a continuous decline in revenue over three consecutive years. In 2022 and 2023, the revenue dropped by 21.88% and 12.85%, respectively. The report indicates that the main business operations of the company focus on developing new energy, particularly wind and solar power generation projects, as well as other energy initiatives.
In particular, the new energy segment primarily involves wind power generation and solar power development, construction, and operation, along with the integration of new energy projects. The main operations of the electricity segment include carbon trading and hydrogen production, as well as the construction of selected projects and systems related to hydrogen production.
Shenzhen Energy Group’s report states that in 2024, the main business operations are not expected to generate significant changes due to ongoing challenges in the new energy sector involving power generation and trading. The report highlights that the wind and solar power generation segments continue to operate normally, with output and trading volumes remaining stable, mainly derived from new project revenue and ongoing construction projects.
Furthermore, the hydrogen production and trading segments continue to stabilize, with production and trading volumes also expected to remain stable. From the revenue perspective, in 2024, Shenzhen Energy Group’s revenues from wind and solar power generation are projected to increase by 4.92%, while revenues from the electricity trading segment are expected to decline by 42.89%.
In terms of net profit, the operating profit for the wind and solar power generation segments is projected to decrease by 2.83% compared to the prior year, while profits from the electricity trading segment may see a decline of 46.54%.
Moreover, the total operating profit for 2024 is estimated to be 2111.38 million yuan, a decrease of 22.15% compared to the previous year, with the operating profit margin remaining at 0%.
This report provides a detailed analysis of the company’s current financial status and future prospects, along with insights into ongoing challenges and opportunities in the new energy sector.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/annual-report-2023-analysis-of-wind-power-and-hydropower-revenue-trends/
