DeYea Co., Ltd. has announced a projected net profit of 650 million to 700 million yuan for the first quarter of 2025, according to a report released on April 14. This forecast reflects an increase of approximately 21.71 million to 26.71 million yuan compared to the same period last year, representing a year-on-year growth of 50.15% to 61.70%.
The company attributes this expected increase in performance primarily to the heightened demand for energy storage in emerging markets such as Southeast Asia, Africa, and the Middle East, which are facing power supply shortages. Additionally, certain European markets are experiencing continuous demand growth driven by policy direction, energy transition, and economic factors. Furthermore, DeYea Co., Ltd. has managed to mitigate exchange rate risks through effective currency management, yielding favorable returns, and has recognized some government subsidies related to revenue during this quarter.
In a separate announcement on the same day, DeYea Co., Ltd. reported that for the year 2024, it anticipates a total revenue of 11.195 billion yuan, marking a 49.67% increase year-on-year. The expected total profit is 3.39 billion yuan, up 61.69% from the previous year, with a projected net profit attributable to shareholders of 2.952 billion yuan, which is an increase of 64.80%.
The company indicated that the primary driver of its business performance for 2024 will be the differentiated growth in global energy storage market demand, which is expected to boost its energy storage inverter and battery pack business significantly.
In addition, DeYea Co., Ltd. has announced plans to invest over 2 billion yuan in a commercial energy storage production line project in Ningbo, aimed at achieving an annual production capacity of 16 GWh. This project is part of their strategy to expand their footprint in the energy storage market.
For 2024, the company is also projecting an impressive growth trajectory, bolstered by the increasing demand across various sectors. With the ongoing development in energy storage technologies and renewable energy solutions, DeYea Co., Ltd. is positioned to continue its growth and enhance its market presence.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/de-yue-co-projects-q1-2025-net-profit-between-650-to-700-million-yuan-amid-growing-demand-in-emerging-markets/
