Shangneng Electric has reported a projected revenue increase of 46.5% for 2024, with an impressive 435.8% growth in net profit. On April 23, the company released its annual report for 2024, detailing a revenue forecast of 47.7 billion yuan, which is a 3.2% increase compared to the previous year. The projected net profit is 4.19 billion yuan, marking a significant rise of 46.5% year-on-year. The estimated net profit attributable to shareholders is 4.12 billion yuan, showing a 49.6% increase. The earnings per share (EPS) is projected to be 1.1647 yuan.
For the fourth quarter, the company expects a revenue of 17.0 billion yuan, which represents a 5.1% increase compared to the previous quarter. The projected net profit is 1.17 billion yuan, reflecting a 51.0% year-on-year growth. The estimated net profit attributable to shareholders is 1.13 billion yuan, a 46.3% increase, with an EPS of 0.3251 yuan.
By the end of the fourth quarter, the total asset value is expected to reach 81.0 billion yuan, which is a 16.7% increase compared to the end of the previous year. The net asset value attributable to shareholders is projected to be 21.62 billion yuan, indicating a 23.1% increase year-over-year.
In its 2024 report, Shangneng Electric highlighted several strategic initiatives to boost business growth. The company plans to enhance its market presence by focusing on large-scale projects and expanding internationally. They anticipate continued high-speed growth driven by government policy support and market demand. Furthermore, the company aims to strengthen its capabilities in the energy sector, particularly in major markets and overseas.
Shangneng Electric is also set to increase its investment in research and development to enhance product offerings and market competitiveness. The company is dedicated to maintaining a stable position in domestic markets while improving product quality and operational efficiency.
As the company navigates the challenges of the market, it is committed to adapting to shifting business dynamics and consumer demands, ensuring a robust response strategy to sustain its growth trajectory.
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