Market value reaches 600 billion; “Energy First” continues to grow | April 18, 2025, 18:22
According to the latest data, the market value has reached an impressive 600 billion, showcasing the ongoing growth of the “Energy First” initiative. Recently, the company released its 2024 annual report, revealing a revenue of 20.05 billion yuan, marking a significant decline of 39.2%. Meanwhile, its net profit plummeted to 4111 million yuan, a staggering decrease of 92.0%. This decline highlights the economic challenges the company faces, especially considering the steep drop from the 60 billion benchmark set back in 2022.
The primary challenges for the company stem from external market pressures. Economic conditions have been volatile, with increased competition affecting performance. Despite these challenges, the company remains committed to expanding its market presence, particularly in international markets, where it has been actively seeking new opportunities.
Looking ahead to 2024, the company anticipates a continuation of this downward trend, with projections estimating a revenue of 20.05 billion yuan, reflecting a decrease of 39.24%. The net profit is also expected to drop significantly, with estimates around 4111 million yuan, showcasing a decrease of 92.0%. Meanwhile, the gross margin is projected to be around 2813.14 million yuan, indicating a slight increase of 106.28%.
On the product front, the company reported a decline in sales volume to 1521 units, a drop of 18.90%. This decrease is attributed to price reductions and market volatility. The company is also experiencing difficulties in its overseas markets, mainly due to fluctuating demand.
As for the energy sector, the company’s battery production is projected to reach 301 GWh by 2024, which is approximately a 62.4% increase over previous years. The continued innovation in energy technologies is expected to further enhance the company’s market position.
In conclusion, while the current market conditions pose challenges for the company, its commitment to innovation and expansion in the energy sector remains steadfast. The company is focusing on enhancing its product offerings and exploring new market opportunities to ensure sustained growth in the coming years.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/market-value-reaches-600-billion-as-first-energy-firm-faces-continued-challenges/
