Changgao Electric Group (002452.SZ) expects a profit increase with the net profit for the 2024 fiscal year ranging from 2.43 billion to 2.7 billion, representing a growth of 40.4% to 56%.

Changgao Electric Group (002452.SZ) released its performance forecast for 2024, predicting a net profit attributable to shareholders of the listed company of 2.43 billion to 2.7 billion yuan for the full year, an increase of 40.4% to 56% year-on-year. The main reasons for the expected performance growth in this reporting period are: the company adheres to the development tone of "focusing on the main business and seeking steady progress", making efforts to seize the opportunities for electricity grid investment growth brought by the construction of "new power systems". The company is accelerating its pace of research and development innovation, continuously improving its product lineup, and new products are gradually making breakthroughs in the market, with orders for power transmission and transformation equipment products continuously increasing. With the improvement of comprehensive gross profit margin brought by the fulfillment and delivery of orders and the changes in product structure, in this reporting period, the company achieved growth in operating income and net profit.