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Xinneng Technology (603105): 1Q24 results are in line with expectations. Increased financial expenses are dragging down profit growth
1Q24 results are in line with our expectations. The company announced 1Q24 results: revenue of 159 million yuan, +25.01% year over year, +11.6% month on month; net profit to mother of 31 million yuan, adjusted +3.3% year on month
Charging and switching infrastructure “full coverage in rural and rural areas”. The three departments are carrying out the “100 counties, ten thousand stations and ten thousand piles” pilot project. The agency is optimistic about these branches of the cha
① As of March 2024, the total number of charging infrastructure units nationwide was 9.312 million units, an increase of 59.4% over the previous year; ② Leading companies with scale advantages, technical advantages, or the ability to make parts in the whole process are expected to achieve lower cost and higher cost performance, and enjoy the growth dividends of overseas markets.
Xinneng Technology (603105): Power generation business, quantitative profit, and additional storage business are waiting to blossom
Key investment points The scale of self-owned power plants continued to increase. Net revenue and profit increased steadily in 2023. The company achieved revenue of 686 million yuan, an increase of 5.59% over the previous year; achieved net profit of 220 million yuan, an increase of 14.99 million yuan over the previous year
Guoxin Securities released a research report on April 8 stating that it gave Xinneng Technology (603105.SH) a purchase rating. The main reasons for the rating include: 1) an increase in the scale of distributed photovoltaic installations, a steady increas
Guoxin Securities released a research report on April 8 stating that it gave Xinneng Technology (603105.SH) a purchase rating. The main reasons for the rating include: 1) an increase in the scale of distributed photovoltaic installations, a steady increase in revenue and net profit; 2) an increase in gross margin and a decrease in the level of net interest rates; 3) an increase in ROE and a significant decrease in net operating cash flow; 4) Continued promotion of distributed photovoltaic project development to ensure the steady growth of the company's performance; 5) steady progress in industrial and commercial energy storage operations to accelerate the development and manufacture of household energy storage products, and explore the value of distributed resources in depth. (Mainichi Keizai Shimbun)
Xinneng Technology (603105): Steady performance, distributed photovoltaic project development is expected to accelerate
The installed scale of distributed photovoltaics increased, and revenue and net profit to mother grew steadily. In 2023, the company achieved revenue of 686 million yuan (+5.59%), net profit of 220 million yuan (+14.99%) to mother, deducted not to mother
Xinneng Technology (603105): Main business basic market stability period awaiting charging and storage business volume
Incident: The company released its 2023 annual report. In 2023, the company achieved operating income of 686 million yuan, +5.59% year over year; net profit to mother of 220 million yuan, +14.95% year-on-year; net profit after deducting non-return to mother of 213 million yuan.
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