Zhongtian Technology has announced its annual report for 2024, revealing a net profit of 2.84 billion yuan, marking a decrease of 8.9% compared to the previous year. The company’s total revenue reached 48.05 billion yuan, reflecting a year-on-year increase of 6.6%. The net profit attributable to shareholders was 2.84 billion yuan, while the non-recurring net profit attributable to shareholders was 2.55 billion yuan, showing a decline of 4.8%. Additionally, the net operating cash flow stood at 4.13 billion yuan, down 9.0%, and the earnings per share (EPS) diluted stood at 0.8315 yuan.
In the fourth quarter, the company recorded a revenue of <b>13.74 billion yuan</b>, which represents an increase of <b>11.6%</b> year-on-year. The net profit attributable to shareholders rose by <b>15.4%</b> to <b>527 million yuan</b>, while the non-recurring net profit attributable to shareholders decreased by <b>12.1%</b> to <b>416 million yuan</b>. The EPS for this quarter was <b>0.1545 yuan</b>.
By the end of the fourth quarter, Zhongtian Technology had total assets amounting to <b>58.324 billion yuan</b>, which is a <b>6.6%</b> increase from the end of the previous year. The net assets attributable to shareholders were <b>34.994 billion yuan</b>, marking a growth of <b>5.5%</b>.
The company's performance in 2024 reflects a positive transformation and innovation strategy, particularly in the fields of energy networks and communication networks. Management emphasized that while advancing its green energy transition, the company remains committed to technological innovation and product upgrades, especially in submarine cables and new energy sectors, which have driven the implementation of multiple projects and an increase in orders.
In the energy network sector, the company has focused on green energy, actively participating in offshore wind power and marine oil and gas development. Notably, it has achieved several breakthroughs in submarine cable technology, enhancing its global competitiveness. Management reported that in 2024, the company had orders worth approximately <b>31.2 billion yuan</b>, which included around <b>13.4 billion yuan</b> in marine series orders, <b>14 billion yuan</b> in grid construction orders, and <b>3.8 billion yuan</b> in new energy orders. This indicates a strong market position in the green energy transition.
In the communication network sector, in response to the development of 5G technology and changing market demands, the company has actively adjusted its business strategies and enhanced its technological capabilities. By strengthening collaborations with operators and implementing new products and services, it has further consolidated its market share in the telecommunications sector. Additionally, the company has intensified its efforts to explore international markets, particularly in Southeast Asia and Europe, seeking new growth opportunities.
Overall, Zhongtian Technology's business strategy is centered around green energy and smart manufacturing, emphasizing the integration of technological innovation with market demands, thereby laying a solid foundation for sustainable development in the future.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/zhongtian-technologies-reports-2024-net-profit-of-2-84-billion-yuan-down-8-9-amid-growth-in-revenue-and-strategic-innovations/
