Summary of Suwen Electric Power Technology Co., Ltd. 2024 Annual Report

Release Date: April 28, 2025
Stock Code: 300982
Stock Abbreviation: Suwen Electric Power
Announcement Number: 2025-007

<h2>Important Notices</h2>
This annual report summary is derived from the full annual report. To gain a comprehensive understanding of the company's operating results, financial status, and future development plans, investors should carefully read the full annual report published in the media designated by the China Securities Regulatory Commission. All board members attended the board meeting where this report was reviewed. The audit opinion from Lixin Certified Public Accountants (Special General Partnership) on the financial report for this year is a standard unqualified opinion. There has been no change in the accounting firm for this reporting period.

<h2>Company Overview</h2>
Suwen Electric Power Technology Co., Ltd. (stock code: 300982.SZ) has experienced nearly 20 years of steady development since its establishment in 2007, transforming from a regional power service provider into a national one-stop (EPCOS) electricity supply and service brand. The company continuously explores and seizes market opportunities, observing industry trends while adhering to its operational philosophy of precise calculations, professional focus, effective risk management, and sustainable operations.

<h3>Main Business</h3>
As a leading one-stop energy service provider in China, Suwen Electric Power focuses on the entire energy industry chain. The company leverages its core competencies in power design, equipment manufacturing, general contracting integration, intelligent operations, and software development to offer comprehensive energy solutions covering the entire cycle from "planning to construction to operation." This supports the national dual carbon strategy and the development of a new power system.

<h3>Key Business Areas</h3>
<ul>
    <li><b>Power Design Consulting:</b> This area is critical to the company's one-stop service model, providing customized power supply and distribution design solutions for various clients.</li>
    <li><b>Power Equipment Supply:</b> The company manufactures and sells a range of products, including high and low voltage cabinets, smart substations, and energy storage systems, widely utilized in various sectors.</li>
    <li><b>Electricity EPC Contracting:</b> This core business has seen rapid growth, aided by comprehensive service offerings across design, procurement, construction, and operations.</li>
    <li><b>Microgrid Services:</b> The company has completed over thirty microgrid projects, achieving a project quality rate of over 98%.</li>
</ul>

<h3>Recent Developments</h3>
In 2024, the company continued to strengthen its technology reserves in virtual power plants and obtained qualifications for operation in Jiangsu Province. It aims to deepen participation in the construction of new power systems and enhance competitiveness in distributed renewable energy and microgrid services.

<h2>Financial Data and Indicators</h2>
For the last three years, the company has not needed to restate or adjust previous accounting data. The financial indicators mentioned are consistent with those disclosed in quarterly and semi-annual reports.

<h2>Share Capital and Shareholder Information</h2>
The company has no preferred stock shareholder data to report for the current period.

<h2>Important Matters</h2>
No significant issues to report.

For further information and inquiries regarding the report, please contact the company directly.