Shangneng Electric reported a net profit of approximately 419 million yuan for the year 2024, reflecting a year-on-year increase of 46.49%. The company disclosed its annual report on April 23, 2025, indicating that it achieved an operating revenue of around 4.773 billion yuan, which represents a 3.23% decline compared to the previous year. Despite the drop in revenue, the significant rise in net profit showcases the company’s effective management and operational strategies.
Founded in 2020, Shangneng Electric is listed on the A-share market, focusing on the research, production, and sales of power electronic devices. The company specializes in power electronic conversion technology, which provides solutions for integrating photovoltaic power generation, electrochemical energy storage into the grid, and addressing power quality management.
According to East Money data, the net profits for Shangneng Electric from 2020 to 2023 were approximately 77.45 million yuan, 58.91 million yuan, 81.56 million yuan, and 285.9 million yuan, respectively. This consistent growth trajectory illustrates the company’s expanding market presence and operational efficiency.
For further details, please refer to the official announcements and financial reports released by the company.
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