Willfar(688100) 证券时报网·2025-04-25 12:02Core Viewpoint - The company, Weisheng Information, reported a strong performance in Q1 2025, driven by continuous technological innovation, overseas expansion, and stable dividends, positioning itself well for future growth in the context of the ongoing "dual carbon" strategy [1][2]. Financial Performance - In Q1 2025, the company achieved revenue of 555 million yuan, a year-on-year increase of 24%, and a net profit attributable to shareholders of 139 million yuan, up 25.3% year-on-year, continuing the stable growth trend from 2024 [2]. - Operating cash flow reached 79.86 million yuan, reflecting a 38.3% year-on-year growth, indicating strong profitability [2]. - The company signed new contracts worth 777 million yuan in Q1, a 30.4% increase year-on-year, with a total backlog of orders amounting to 4.108 billion yuan, ensuring future revenue streams [2]. Technological Innovation - The company has invested a total of 667 million yuan in R&D over the past three years, averaging 9.6% of its revenue, establishing a technological moat [3]. - Weisheng Information has developed a core competitive advantage through its "IoT + Chip + AI" strategy, creating comprehensive solutions for data collection, transmission, and analysis [3]. - The integration of AI technologies has enhanced the efficiency and reliability of the new power system, contributing to the construction of a safe, efficient, and green energy system [3]. Market Position and Recognition - The company has developed products like the Power Harmony Smart Terminal and solutions for the orderly integration of distributed photovoltaics, which are widely used in the power grid, solidifying its market share [4]. - Weisheng Information has received multiple national recognitions, including the 25th China Patent Excellence Award and being named a National Intellectual Property Advantage Enterprise, highlighting its continuous innovation capabilities [4]. International Expansion - The company has accelerated its overseas strategy, particularly in Southeast Asia, with the opening of its subsidiary in Indonesia and ongoing construction of a factory in Saudi Arabia [5][6]. - In Q1 2025, overseas revenue reached 96.92 million yuan, a 30.6% increase year-on-year, reflecting successful international market penetration [6]. Shareholder Returns - The company has prioritized shareholder returns, distributing a total of 1.25 billion yuan in cash dividends and repurchasing shares worth approximately 200 million yuan, totaling 1.16 billion yuan in returns to investors [7]. - Weisheng Information has committed to maintaining a baseline dividend payout ratio of 40% over the next five years, establishing a stable return mechanism [7]. Future Strategy - The company aims to continue its development strategy centered on "IoT + Chip + AI," focusing on digital power grids, smart cities, and international business expansion to create a controllable digital energy system [8].