Revenue data of metering enterprises are revealed

In 2023, the revenue of 11 enterprises exceeded the 1 - billion - yuan mark. Among them, Lin 洋 Energy ranked first with a revenue of 6.872 billion yuan. Haisum Power and Jinka Smart followed closely with 4.2 billion yuan and 3.175 billion yuan respectively. In the first half of 2024, the revenues of five enterprises, namely Jinka Smart, Lin 洋 Energy, Juhua Technology, Haisum Power, and Winner Information, also exceeded 1 billion yuan, demonstrating the strong growth momentum of the industry.

By further observing the proportion of each enterprise's revenue in the first half of 2024 to its total revenue in 2023, we found that as many as 10 enterprises had a proportion exceeding 50%. These include well - known enterprises such as Weixing Smart, Shanke Smart, and Lin 洋 Energy, indicating that these enterprises can maintain a stable business performance in the face of the complex and changeable domestic and international market environment.

In conclusion, China's metering industry has shown a strong growth momentum in recent years. The overall performance of listed metering enterprises is remarkable, laying a solid foundation for the continuous development of the industry.

In the first half of 2024, Jinka Smart achieved an operating income of 359 million yuan, a 17.72% decrease compared to the same period last year. The net profit attributable to the parent company was 56.9916 million yuan, a significant 38.29% year - on - year decline. The net profit after deducting non - recurring gains and losses was 50.5868 million yuan, a slight 24.22% year - on - year decrease.

In terms of product composition, in the first half of 2024, among Jinka Smart's main businesses, intelligent domestic water meters and systems contributed 158 million yuan in revenue, accounting for 43.88% of the total revenue. Intelligent industrial and commercial water meters and flow meters contributed 112 million yuan in revenue, accounting for 31.17% of the total revenue. However, the revenue of intelligent gas meters and systems was 50 million yuan, a 45.98% decrease compared to the same period last year, accounting for only 13.80% of the total revenue.

Meanwhile, the gross profit margins of each product line varied. In the first half of 2024, the gross profit margin of intelligent domestic water meters and systems was 37.35%, that of intelligent industrial and commercial water meters and flow meters was as high as 63.89%, and that of intelligent gas meters and systems was 26.47%.

In the first half of 2024, Shanke Smart achieved an operating income of 1.484 billion yuan, a 2.10% increase compared to the same period last year. The net profit attributable to the parent company was 218 million yuan, a 5.29% year - on - year increase. The net profit after deducting non - recurring gains and losses was 190 million yuan, a slight 4.48% year - on - year increase.

In terms of product segmentation, among the company's main businesses, intelligent domestic gas terminals and systems contributed 890 million yuan in revenue, a 0.22% year - on - year increase, accounting for 59.98% of the operating income. Intelligent industrial and commercial gas terminals and systems contributed 321 million yuan in revenue, a 13.47% year - on - year increase, accounting for 21.60% of the operating income. In addition, intelligent water utility terminals and systems brought the company 116 million yuan in revenue, accounting for 7.81% of the operating income.

From the perspective of gross profit margin, the performance of intelligent domestic gas terminals and systems, intelligent industrial and commercial gas terminals and systems, and intelligent water utility terminals and systems in the first half of 2024 was different. The gross profit margin of intelligent domestic gas terminals and systems was 35.94%, that of intelligent industrial and commercial gas terminals and systems was as high as 57.38%, and that of intelligent water utility terminals and systems was 31.41%.

In the first half of 2024, the company's total operating revenue reached 332 million yuan, a 10.09% increase compared to the same period last year. The net profit attributable to the parent company was 41.467 million yuan, a 12.63% year - on - year increase. The net profit after deducting non - recurring gains and losses was 37.4321 million yuan, a slight 6.71% year - on - year increase.

In terms of product segmentation, intelligent remote - reading water meters and metering sensors contributed 242 million yuan in revenue to the company. Although it decreased by 4.58% year - on - year, it still accounted for a large proportion of the operating income, reaching 72.91%. In addition, smart water utility pipeline network equipment brought 47 million yuan in revenue, accounting for 14.02% of the operating income.

From the perspective of gross profit margin, the performance of intelligent remote - reading water meters and metering sensors in the first half of 2024 was 40.06%, and the gross profit margin of smart water utility pipeline network equipment was as high as 57.18%.

In the first half of 2024, the company achieved an overall operating income of 676 million yuan, a 9.64% increase compared to the same period last year. The net profit attributable to the parent company was 39.2627 million yuan, a 14.59% year - on - year increase. The net profit after deducting non - recurring gains and losses was 36.0393 million yuan, a slight 7.86% year - on - year increase.

In terms of product segmentation, remote - reading gas meters contributed 380 million yuan in revenue to the company, a 3.69% year - on - year increase, accounting for 56.28% of the operating income. In addition, electronic gas meters brought 244 million yuan in revenue, with a year - on - year growth rate as high as 27.41%, accounting for 36.15% of the operating income. However, the revenue of IC - card intelligent gas was 16 million yuan, a 32.34% year - on - year decline, accounting for a relatively small proportion of 2.32%. From the perspective of gross profit margin, the performance of remote - reading gas meters and electronic gas meters in the first half of 2024 was 33.87% and 38.03% respectively.

In the first half of 2024, the company achieved an operating income of 106 million yuan, a slight 1.20% increase compared to the same period last year. However, the net profit attributable to the parent company was 22.4715 million yuan, an 11.08% year - on - year decline. The net profit after deducting non - recurring gains and losses was 18.8228 million yuan, a significant 17.36% year - on - year decline.

In terms of product segmentation, ultrasonic heat meters and systems contributed 45.0298 million yuan in revenue to the company, accounting for 42.31% of the operating income. At the same time, ultrasonic water meters and flow meters brought 30.1716 million yuan in revenue, accounting for 28.35% of the operating income. In addition, intelligent control terminals achieved significant growth during the reporting period, with revenue reaching 11.1562 million yuan, a year - on - year growth rate as high as 171.22%, accounting for 10.48% of the operating income.

From the perspective of gross profit margin, the performance of ultrasonic heat meters and systems, ultrasonic water meters and flow meters, and intelligent control terminals in the first half of 2024 was 49.54%, 56.48%, and 45.25% respectively.

The semi - annual report of 2024 showed that the company achieved an operating income as high as 1.223 billion yuan, with a year - on - year growth rate of 20.76%. The net profit attributable to the parent company was 272 million yuan, a 26.52% increase compared to the same period last year. After deducting non - recurring gains and losses, the net profit was 265 million yuan, a 15.86% year - on - year increase.

As of the end of the reporting period, the company had orders worth 3.512 billion yuan in hand, a 17% increase compared to the same period last year, indicating sufficient business reserves. In addition, the company successfully won a tender project of China Southern Power Grid in July 2024, with a winning bid amount of 312 million yuan, further demonstrating the company's strength and market recognition.

It is worth noting that the subsidiary in charge of the communication chip business also showed a strong growth momentum. The semi - annual report shows that the subsidiary achieved an operating income of 270 million yuan, with a year - on - year growth rate as high as 40.12%. The net profit also reached 88.68 million yuan, a 66.3% year - on - year increase, fully demonstrating its leading position and profitability in the field of communication chips.

In terms of domestic and international markets, the company also achieved remarkable results. Domestic business achieved an operating income of 992 million yuan, a 11.41% year - on - year increase, further consolidating its leading position in the domestic market. At the same time, international business also achieved rapid development, with an operating income of 225 million yuan, a year - on - year growth rate of an astonishing 93.22%. This achievement not only demonstrates the company's competitiveness in the international market but also lays a solid foundation for its future globalization development.

On March 13, 2024, the State Council issued the "Action Plan for Promoting Large - scale Equipment Updating and Consumer Goods Trade - in." This plan aims to accelerate equipment updating in the fields of construction and municipal infrastructure, especially in aspects such as residential elevators, water supply, heating, gas supply, sewage treatment, and urban lifeline projects, and to promote renewal and transformation in a classified manner. At the same time, the upgrading and transformation of water treatment plants and pressurized and regulated water supply facilities and equipment have also been listed as key tasks. In addition, heating metering reform, renewal and transformation of heating facilities and equipment, renewal and transformation of gas - aging pipelines, and the construction of supporting IoT intelligent sensing equipment for urban lifeline projects such as underground pipe networks and manhole covers are also being carried out in an orderly manner.

On April 8, 2024, the Ministry of Housing and Urban - Rural Development further issued the "Implementation Plan for Promoting the Updating of Construction and Municipal Infrastructure Equipment." This plan sets the goal of completing the renewal and transformation of equipment with backward technology, non - compliance with standards and specifications, or non - compliance with energy conservation and environmental protection requirements by 2027, and puts forward ten key tasks, including the renewal of old residential elevators and the renewal of water supply facilities and equipment.

In the equipment renewal and transformation plans issued successively at the national and local levels, the renewal of urban infrastructure, especially in the fields of power supply, water supply, heating, and gas supply, has become the focus of attention. The introduction of these policies undoubtedly brings new development opportunities to related metering products such as smart water utilities and intelligent water meters. Leading metering enterprises with technological, product, or service advantages are expected to make full use of this policy benefit to achieve greater market expansion.