TGOOD(300001) 证券时报网·2025-01-17 00:59Core View - The company signed a contract with Saudi National Grid for the supply and installation of 132kV mobile substations, with a total contract value of SAR 353 million (approximately RMB 700 million) [1] - The company is actively expanding its overseas business, with significant growth in international orders and successful product deployment in over 50 countries [2] - The company expects a significant increase in net profit for 2024, with a projected growth of 70% to 90% year-on-year [2] - The company's two major business segments, "Intelligent Manufacturing + Integrated Services" and EV charging networks, have shown strong profitability and growth [3] - The industry is optimistic about the growth potential of the power equipment sector, driven by increasing electricity demand and investments in power infrastructure [4] Business Expansion - The company signed a contract with Saudi National Grid for the supply and installation of 132kV mobile substations, with a total contract value of SAR 353 million (approximately RMB 700 million) [1] - The company has successfully deployed its power equipment products in over 50 countries, including Russia, the Middle East, South Africa, Australia, Central Asia, and Southeast Asia [2] - The company has laid out more than 700 new energy microgrid charging stations in over 140 cities across the country [2] Financial Performance - The company expects net profit for 2024 to be between RMB 835 million and RMB 933 million, representing a year-on-year growth of 70% to 90% [2] - The company's non-GAAP net profit is expected to be between RMB 695 million and RMB 793 million, representing a year-on-year growth of 72% to 97% [2] Business Segments - The "Intelligent Manufacturing + Integrated Services" segment has achieved cumulative bidding and contract amounts exceeding RMB 13 billion in 2024 [3] - The EV charging network segment has over 700,000 public charging terminals in operation by the end of 2024, including more than 420,000 DC charging terminals [3] - The company's total charging volume exceeded 39 billion kWh by the end of 2024, with a year-on-year growth of over 40% in 2024 [3] Industry Outlook - The industry is optimistic about the growth potential of the power equipment sector, driven by increasing electricity demand and investments in power infrastructure [4] - National production of power and other batteries increased by 41.0% year-on-year in 2024 [4] - The number of public charging piles nationwide increased by 31.8% year-on-year as of November 2024 [4]