Shangneng Electric has announced a significant increase in its financial performance for the first quarter of 2025. On April 24, the company released its quarterly report, revealing an operating revenue of 831 million yuan, which represents a year-on-year growth of 16.78%. The net profit attributable to shareholders of the listed company was 87.65 million yuan, showing an impressive year-on-year increase of 71.56%. After excluding non-recurring gains and losses, the net profit attributable to shareholders rose to 85.79 million yuan, marking a remarkable growth of 82.69%. The basic earnings per share stood at 0.24 yuan, reflecting a year-on-year growth of 71.43%.
According to Tianyancha, Shangneng Electric was established on March 30, 2012, with a registered capital of 358.038965 million yuan. The legal representative is Wu Qiang, and the company’s headquarters is located at 6 Hehuai Road, Huishan District, Wuxi City. The company specializes in the research, development, production, and sales of power electronic equipment.
The current chairman of the company is Wu Qiang, with Chen Yunping serving as the secretary of the board. The company employs 1,609 individuals, with Wu Qiang and Wu Chao as the actual controllers. Shangneng Electric has invested in 29 subsidiaries, including SINENG ELECTRIC GMBH, Shangneng Smart Technology Co., Ltd., Wuxi Dingneng Software Co., Ltd., Shenzhen Tuo Jie Technology Co., Ltd., and Chengdu Sait New Energy Technology Co., Ltd..
In terms of financial performance, the company’s operating revenues for the years 2021 to 2023 were 1.092 billion yuan, 2.339 billion yuan, and 4.933 billion yuan, with year-on-year growth rates of 8.80%, 114.08%, and 110.93%, respectively. The net profits attributable to shareholders were 58.91 million yuan, 81.56 million yuan, and 286 million yuan, with year-on-year growth rates of -23.94%, 38.46%, and 250.48%.
During the same period, the company’s debt-to-asset ratios were 67.06%, 77.72%, and 74.60%. Regarding risks, Tianyancha reports indicate that the company currently has 106 risk items associated with itself, 4 risk items in the surrounding environment, 0 historical risk items, and 57 warning risk items.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/shangneng-electric-reports-71-56-year-on-year-increase-in-q1-net-profit/
