Jingfeng Mingyuan and Jiawei Xinneng released 2024 annual performance forecast

On January 15, Jingfeng Mingyuan and Jiawei New Energy successively released their 2024 annual performance forecasts.

Jingfeng Mingyuan

Jingfeng Mingyuan expects annual operating income in 2024 to be 1.45 billion to 1.55 billion yuan, a year-on-year increase of 11.26% to 18.93%; a net loss of 24 million to 36 million yuan, a net loss of 91.26 million yuan in the same period last year.

Jingfeng Mingyuan’s business focuses on the two major sectors of power management chips and control driver chips, specifically covering four major product lines: LED lighting power chips, motor control driver chips, AC/DC power chips and DC/DC power chips.

During the reporting period, while steadily advancing the LED lighting power chip business, the company actively expanded the product development and marketing process of the "second curve". Sales revenue of AC/DC power chips and motor control driver chips increased significantly; at the same time, the company's high-performance computing power chip products entered the mass production stage, and the company's operating revenue in 2024 increased year-on-year.

Jiawei New Energy

Jiawei Xinneng expects a net profit loss attributable to shareholders of listed companies in 2024 of 250 million yuan to 285 million yuan.

The company pointed out in the announcement that the performance changes were mainly due to factors such as the decline in market transaction electricity prices, insufficient consumption of new energy power in some provinces and cities, and the increase in power plant power curtailment rates. At the same time, the start-up of the company's Vietnam factory has also led to the gradual transfer of domestic manufacturing, requiring an inventory impairment provision of approximately RMB 40 million. In addition, during the reporting period, the company's new energy EPC revenue and profits decreased significantly, and the progress of power station development and transfer was delayed, resulting in overall revenue shrinkage.

Jiawei New Energy is mainly engaged in new energy power generation and photovoltaic consumer products. Photovoltaic consumer products mainly include photovoltaic garden lighting, LED lighting, smart homes and photovoltaic small panels. Photovoltaic lawn lamp and garden lamp series products. Among them, LED lighting products are mainly used in commercial lighting.

In order to further optimize the company's business structure, Jiawei Xinneng announced on August 5, 2024 that the company and its subsidiaries planned to transfer the equity of five participating companies at a price of 287.2117 million yuan. The businesses of the five joint-stock companies transferred all involve solar photovoltaic power generation. In the future, Jiawei New Energy may further focus on photovoltaic consumer product business, mainly photovoltaic garden lighting, LED lighting, smart homes and photovoltaic small panels.