Zeyu Smart: Double carbon targets to accelerate the digital layout of power grid and add new energy and microgrid fields

2022-07-08 0 By

In recent years, the state has maintained large-scale investment in the electric power industry. With the comprehensive implementation of the Internet of Things of state Grid power and the digital transformation construction of China Southern Power Grid, the investment in electric power informatization has grown rapidly.At the same time, under the guidance of the goal of “carbon peak and carbon neutral”, it is necessary to build a new power system to accelerate the digitalization process of power grid.As an enterprise focusing on power informatization business, Jiangsu Zeyu Intelligent Electric Power Co., LTD. (hereinafter referred to as “Zeyu Intelligent”) grasps the development opportunities of the industry to achieve rapid development.In terms of performance, Zeyu intelligent revenue net profit has steadily improved, with a compound growth rate of 24.38% and 30.68% in revenue and net profit from 2019 to 2021 respectively.At the same time, Zeyu smart in hand order abundant, stable future performance.In addition, The gross profit margin of Zeyu intelligent is stable and rising, the profitability is enhanced, and the period expense ratio decreases year by year, and the internal control ability is improved.It is worth mentioning that Zeyu Intelligent also innovates the one-stop comprehensive service model of smart grid, and its core business income continues to grow and customer stickiness continues to strengthen.In addition, Zeyu intelligent in the direction of new energy, micro-grid continues to strengthen technical reserves, improve service capacity, and strive to seize the historic opportunity of “energy revolution”, its future development is worth looking forward to.Focusing on power informatization business, Zeyu Intelligent is a one-stop comprehensive service provider of smart grid to provide overall solutions of power information system, including power design, system integration, engineering construction and operation and maintenance business.Electric power informatization refers to the application of electronic, computer, network and other information technologies in the whole process of power industry planning, design, construction, power generation and production, transmission, power transformation, distribution, scheduling, marketing, materials and management.In recent years, the domestic power industry grid investment scale is huge.According to the “14th Five-year Plan” issued by China Southern Power Grid Co., LTD. (hereinafter referred to as “China Southern Power Grid”), during the 14th Five-year Plan period, China Southern Power Grid will plan to invest about 670 billion yuan in overall power grid construction, including 320 billion yuan in distribution network construction.At the 2021 International Forum on Energy and Power Transformation, The State Grid Corporation of China (HEREINAFTER referred to as “State Grid”) disclosed that it plans to invest $350 billion (about 2.23 trillion yuan) to promote power grid transformation and upgrading during the 14th Five-Year Plan period.This means that the total planned investment of state Grid and China Southern Grid in the 14th Five-Year plan will exceed 2.9 trillion yuan.It is worth mentioning that during the 12th Five-Year Plan period, the total investment of the national power grid was 2 trillion yuan, and during the 13th Five-Year Plan period, the total investment of the national power grid was 2.57 trillion yuan. The total investment of the power grid showed a rising trend, and the investment of the power grid was inclined to the direction of informatization, and the structure continued to optimize.The development of the electric power industry is inseparable from the support of informatization. The increase of total investment will inevitably lead to the construction of supporting new information system and the upgrading and transformation of existing information system. With the comprehensive promotion of the Internet of Things of State Grid power and the digital transformation and construction of China Southern Grid, it will inevitably drive the rapid growth of the investment in electric power informatization.At the same time, the government work report of the 2021 “Two Sessions” listed “carbon peak and carbon neutrality” as one of the key national tasks. China has promised the world that carbon dioxide emissions will peak by 2030 and carbon neutrality will be achieved by 2060.According to cPEC statistics, the domestic power generation sector accounted for 40 percent of the country’s total carbon emissions in 2020.At present, the domestic power industry is dominated by thermal power. Increasing the proportion of clean energy such as solar power and wind power is an important step to achieve the goal of “carbon peak and carbon neutrality”.However, solar and wind power generation is greatly affected by weather seasons and is unstable.In order to make use of more clean energy, it is necessary to accelerate the digital transformation of the power system. Through refined electric power digital management, accurate prediction, flexible deployment, total balance and intelligent management of electricity consumption can be achieved, and the power generation and consumption efficiency of clean energy can be maximized on the basis of ensuring the stability of power supply.In the future, with the continuous expansion of solar energy, wind energy and other new energy market scale, it will effectively drive the acceleration of the development of related supporting service industry.In addition, in March 2022, the National Development and Reform Commission (NDRC), the energy bureau recently issued by the “difference” modern energy system planning, put forward to accelerate the construction of digital power system upgrades and new type of power system, iterative development, enhance the level of intelligent power grid and promote new energy grid initiative to adapt to the large-scale centralized and distributed energy development quantity bedding face is wide.The plan will create huge investment demand and promote the further development and expansion of the power information industry.Second, period expense rate decreases year by year management ability improvement, steady growth of net revenue in hand order abundant continuous good market demand for Zeyu intelligent bring good development opportunities, in recent years, Zeyu intelligent performance is outstanding.According to Oriental Fortune Choice data, from 2019 to 2021, The operating revenue of Zeyu Intelligent was 455 million yuan, 584 million yuan, 703 million yuan respectively, with a compound growth rate of 24.38% from 2019 to 2021.During the same period, Zeyu Intelligent’s net profit was 109 million yuan, 155 million yuan and 186 million yuan respectively, with a compound growth rate of 30.68% from 2019 to 2021.It is worth mentioning that Zeyu intelligent in hand orders are abundant, each end of the hand order amount increased year by year.According to the prospectus, from 2018 to 2021, the final contract amounts (excluding tax) of Zeyu Intelligent are 315 million yuan, 763 million yuan, 947 million yuan and 1.142 billion yuan respectively.From the point of view of gross margin, in recent years, The gross margin of Zeyu intelligent has been rising steadily, and the profitability has been increasing.According to Oriental Fortune Choice data, from 2019 to 2021, The gross profit margin of Zeyu Intelligent is 41.12%, 41.88% and 42.7% respectively.On the other hand, the period expense rate of Zeyu Intelligent decreases year by year, and the internal control ability is constantly improving.From 2019 to 2021, the period expenses of Zeyu Intelligent are 65.628,500 yuan, 77.0.06 million yuan and 85.834,100 million yuan respectively, accounting for 14.44%, 12.8% and 12.2% of the current operating revenue respectively.Among them, from 2019 to 2021, the sales expenses of Zeyu Intelligent were 25.5697 million yuan, 28.832 million yuan and 32.5523 million yuan respectively, accounting for 5.65%, 4.94% and 4.63% of the operating revenue of each period respectively.It can be seen that during the reporting period, the sales expense rate of Zeyu intelligent decreased year by year.This is because selling expenses as a whole are themselves fixed expenses for a certain period of time and do not change in step with the growth of revenue.From 2019 to 2021, the management expenses of Zeyu Intelligent are 28.2864 million yuan, 29.97773 million yuan and 32.0624 million yuan respectively, accounting for 6.22%, 5.14% and 4.56% of the operating revenue of each period respectively.It can be seen that with the growth of operating income, the management expense of Zeyu Intelligent has increased but the growth rate is significantly lower than the growth rate of revenue, and the management expense rate has decreased accordingly.In addition, the management expense rate of Zeyu Intelligent decreases year by year mainly due to the decrease of salary ratio.The compensation of zeyu intelligent management staff is mainly fixed salary, plus a certain proportion of bonus, which will not increase significantly in 2-3 years, so it will not change with the increase of income.To sum up, Zeyu intelligent’s net profit is rising year by year, with abundant orders in hand and stable performance in the future.At the same time, Zeyu intelligent gross margin significantly higher than the industry average, its profitability is outstanding.In addition, the period expense rate of Zeyu Intelligent decreased year by year, and the internal control ability continued to enhance.At present, the main business types of Zeyu Intelligent include power design business, system integration business, engineering construction and operation and maintenance business, among which the core business is system integration business.From the point of electric power information industry complete industry chain, system integration business to the project scheme, equipment procurement, test and operation requirements of hardware and software aspects, such as high, closely linked to upstream and downstream business and industry, relative to the design and construction of consulting business operations has the advantages of the channel is link design, product, construction of important way,It is in the middle of electric power information industry and has the effect of upstream and downstream expansion and integration.For system integration business, as the core business of Zeyu Intelligence, the business has been growing in recent years.From 2019 to 2021, the revenue of system integration business of Zeyu Intelligence was 353 million yuan, 450 million yuan and 559 million yuan respectively, accounting for 77.58%, 77.17% and 79.41% of the main business income of the period respectively.Compared with the traditional enterprises in the industry usually adopt a single power consulting design, a single power engineering construction or design and construction integrated business model, the business chain is relatively short, the service model is relatively single, Zeyu intelligent through years of development accumulation, to create a one-stop comprehensive service for customers to provide one-stop business model,Power consulting and design, system integration and engineering construction and operation and maintenance services in one, fully extend the business chain, improve customer loyalty.From pre-sale service to the project design, from system integration to after-sale operational one-stop integrated service model is an innovative business model, according to the smart grid upgrading needs, form business circle meets the requirements of customers more business, increase customer stickiness, deepen understanding of customer demand, in the process of spiral rising cycle, constantly create customer value and their own value.The above business model has a more flexible way of business cooperation, more business opportunities and deeper customer cooperation, and has obvious advantages in comprehensive capabilities.In terms of business cooperation, Zeyu intelligent business services can be diversified, which can not only provide single professional services, but also one-stop undertaking power system business to meet the different needs of customers.In terms of business undertaking opportunities, Zeyu smart business has strong coordination, which can be first entered into through a service and then linked to other services, and form a business cycle based on the upgrading needs of power grid projects.In terms of cooperation, Zeyu intelligent adopts one-stop comprehensive services to meet customers’ more business needs, establish long-term and in-depth cooperation with customers, enhance customer stickiness, deepen understanding of customer needs, and lay a solid foundation for future business cooperation.In the future, ze yu ai will conform to the development of the digital, the wisdom of the electric power industry trends, system integration business as the core, both electric power design consulting and project construction and operations, cultivate the smart grid field “big move, cloud, and physical, intellectual” cutting-edge technology applications, such as improving one-stop comprehensive service ability, the smart gridEnhance its industry status in the field of electric power information market.Since its establishment, Zeyu Intelligent attaches great importance to the important role of R&D and innovation in business development.In terms of RESEARCH and development investment, Zeyu intelligent continues to increase efforts to invest in the frontier technology field, making the research and development cost increased year by year.From 2019 to 2021, the R&D expenses of Zeyu Intelligent are 13.5828 million yuan, 21.3219 million yuan and 24.443 million yuan respectively.Through innovation and research, Zeyu has mastered 13 core technologies including power communication system integration technology and smart grid dispatching system integration technology.Relying on many core technologies, Zeyu intelligent developed a series of products and system software.In the field of communication system integration, Zeyu Intelligent successfully developed CPE wireless terminal, acquisition terminal communication module and other products, with rich functions, stable and reliable operation advantages, won the market reputation.In the field of scheduling data integration, Zeyu intelligent on the basis of scheduling data integration technology, scheduling data technology extends to the direction of secondary security, developed with the industry’s advanced level of data encryption, data isolation technology, to ensure the security of scheduling data transmission.At the same time, in the direction of power monitoring system, Zeyu intelligent development of network security monitoring device, through the first batch of state grid detection, opened up a new market for dispatching data network.In the field of operational monitoring substation, ze yu smart in intelligent auxiliary transformer substation monitoring and control system based on function upgrade, intelligent substation three-dimensional inspection system is developed, unattended substation, substation dc power supply and fire fighting management system of battery online monitoring and maintenance management system applications, such as improve substation intelligent inspection, safety control and intelligent operational level,Improve the safety factor of equipment.In addition, the ze yu smart in 2021 completed the substation intelligent on-line inspection system, electric power planning intelligent data platform, distribution, transmission line on-line monitoring system for integrated online monitoring system, wireless base stations, handheld operations system, remote control intelligent drop fuse multiple research projects, such as power market business development.In terms of technology protection, as of December 3, 2021, the company has 49 authorized patents and 27 software Copyrights, including 6 invention patents, 42 utility models and 1 appearance design.Not only that, Zeyu intelligent also strengthen in the direction of new energy, micro-grid technology reserves, layout and code new energy, micro-grid field, accelerate the cultivation of new profit growth point, and strive to seize the “energy revolution” historic opportunity.On December 28, 2021, Zeyu Intelligent set up Jiangsu Zeyu Intelligent New Energy Co., LTD., which is engaged in new energy and micro-grid business.The main business of Zeyu smart new energy sector is the development, investment, design, construction, operation and service of all kinds of distributed photovoltaic power stations, including large, medium and small industrial and commercial rooftop power stations, distributed photovoltaic power stations on the ground, photovoltaic building integration, optical charging and storage microgrid, etc.In the new energy control technology, Zeyu intelligent is engaged in related research and development, mainly to achieve the new energy grid security monitoring and scheduling control, while the new energy access grid scheme, new grid planning Zeyu intelligent is also continuing, actively follow up the market.In the field of microgrid, Zeyu intelligent can provide one-stop services from design to integration to construction and maintenance.In the future, in the field of new energy, micro power grid, ze yu ai will intensify photovoltaic power station especially in the development of distributed photovoltaic power station, in providing turnkey services and the value-added service of form a complete set at the same time, will pick the high quality project, form the scroll investment, gradually formed the development strategy of clean energy and clean energy investment services.