ZONGSHEN POWER(001696) 上海证券报·2025-03-31 18:11Core Viewpoint - The company aims to enhance its position as a leading provider of integrated power systems by focusing on traditional and emerging business sectors, including general machinery, motorcycle engines, aviation power, new energy, and high-end components, while achieving significant revenue and profit growth in 2024 [20][24]. Company Overview - The company is a specialized manufacturer of small and medium-sized power machinery products in China, engaged in R&D, manufacturing, and sales of various power systems and components [3][4]. - The main products include engines and parts, general gasoline engines, agricultural machinery, and lithium battery systems [3][4]. Business Performance - In 2024, the company achieved total revenue of 10.506 billion yuan, a year-on-year increase of 28.89%, and a net profit of 496 million yuan, up 33.51% from the previous year [20][33]. - The sales volume of general power and terminal products reached 4.8345 million units, a growth of 37.34%, with total revenue of 5.226 billion yuan, increasing by 35.33% [5][20]. Strategic Focus - The company is implementing a dual growth strategy by upgrading its fuel power business and rapidly expanding its new energy business, including electric drive systems and hydrogen energy [4][14]. - The company emphasizes digital transformation and smart manufacturing to enhance operational efficiency and product quality [21][22]. Product Development - The company has established a comprehensive R&D system with modern laboratories and testing facilities to support innovation in product development [7][8]. - The aviation power segment focuses on developing small and medium-sized aviation engines, with a product line that includes over 20 derivative products [13][10]. New Energy Initiatives - The company has built a new energy product system covering electric drive systems, energy storage, and hydrogen energy, aiming for a balanced growth between traditional and new energy sectors [14][16]. - The energy storage subsidiary has launched various products for residential and commercial applications, enhancing its market presence in Europe and North America [16][17]. High-End Components - The high-end components business has developed a complete manufacturing capability from raw materials to finished products, with a focus on automotive and new energy applications [18][19]. - The company collaborates with well-known enterprises to deliver high-quality products and services while advancing digital transformation in manufacturing [18][24].