Special Transformer Electric Co., Ltd.: Achieves revenue of 23.357 billion yuan in the first quarter of 2025
On April 22, Special Transformer Electric Co., Ltd. released its financial report for the first quarter of 2025. During this period, the company recorded revenue of 23.357 billion yuan, a decrease of 0.79% compared to the previous year. The net profit attributable to shareholders of the listed company was 1.6 billion yuan, reflecting a decline of 19.74% year-on-year.
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In related news, Special Transformer Electric Co., Ltd. disclosed that it expects to achieve an operating income of 97.782 billion yuan in 2024. The annual report indicates that in the fiscal year 2024, the company achieved total revenue of 97.782 billion yuan, with a total profit of 5.022 billion yuan and a net profit of 3.598 billion yuan, of which 4.135 billion yuan was attributable to shareholders of the parent company, marking stable growth.
Furthermore, the company noted that it secured 49.1 billion yuan in contracts in the domestic power transmission and transformation market during 2024, while also expanding the development and construction scale of wind and solar resources.
Investment in Renewable Energy: On April 22, Special Transformer Electric Co., Ltd. announced plans to invest 1.488 billion yuan in the construction of a 300MW photovoltaic hybrid power project. This project will include a 300MW photovoltaic power station, a 220kV booster station, and a 30MW/60MWh energy storage system.
According to the feasibility study, the project is expected to have an annual effective utilization hour rate of 1,205.11 hours.
As of the first quarter of 2025, under the dual carbon goals and new energy security strategies, China’s energy supply is robust, and the industrial structure continues to optimize. Many private enterprises are moving towards greener practices, creating new development opportunities in the energy sector.
In investment news, Special Transformer Electric Co., Ltd. is among several companies that have been shortlisted for the 800MW inverter procurement project by the South-to-North Water Diversion project, showcasing its competitive positioning in the renewable energy market.
In other developments, on April 25, the company reported a significant increase in efficiency and competitiveness within the energy storage sector, with several projects underway that highlight advancements in energy solutions.
Overall, the company’s performance reflects ongoing challenges and opportunities within the evolving energy landscape, as it continues to adapt to market demands and regulatory frameworks.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/tebian-electric-reports-q1-2025-revenue-of-23-36-billion-yuan-down-0-79-year-on-year/
