Home » The first batch of Wasion Information on the Science and Technology Innovation Board released its 2023 annual report. Net profit attributable to the parent increased by 31.3%, improving quality and efficiency and focusing on returns.

The first batch of Wasion Information on the Science and Technology Innovation Board released its 2023 annual report. Net profit attributable to the parent increased by 31.3%, improving quality and efficiency and focusing on returns.

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Wasion Information (688100) Achieves Double Growth in Revenue and Net Profit in 2023

Securities Times reported on the evening of February 28 that Wasion Information (688100) released its 2023 annual report, showcasing impressive results. The company achieved operating income of 2.225 billion yuan in 2023, marking an 11.1% increase from the previous year. Net profit attributable to the parent company also saw substantial growth, reaching 525 million yuan, a year-on-year increase of 31.3%. This marks several consecutive years of double growth in both revenue and net profit for Wasion Information.

As one of the first batch of annual reports released by the Science and Technology Innovation Board in 2023, Wasion Information’s stellar performance highlights the innovative drive and high-quality development ethos of companies listed on the board.

In their 2024 action plan titled “Improving Quality, Increasing Efficiency and Focusing on Returns,” Wasion Information outlined various measures to enhance operating quality and investor returns.

The company’s report indicates industry-leading profitability and robust momentum in core business development. Since being listed on the Science and Technology Innovation Board in January 2020, Wasion Information has achieved a compound growth rate of 15.65% in operating income and 24.68% in net profit. Notably, the company’s returns on net assets and net profit margin saw significant increases in 2023, reinforcing its industry-leading profitability status.

Wasion Information’s strategic focus on digital and intelligent city construction, as well as green and low-carbon development, aligns with State Grid and China Southern Power Grid’s initiatives. The company’s advancements in chip technology, particularly in power grid communication, have contributed to its success. In 2023, Wasion Information’s subsidiary, Zhuhai Zhonghui Microelectronics Co., Ltd., saw a substantial increase in revenue and net profit from communication chip module sales.

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In addition to its domestic endeavors, Wasion Information is actively involved in the economic development of “Belt and Road” countries and the energy Internet construction. The company’s commitment to R&D and overseas market expansion sets it apart in providing comprehensive energy IoT solutions globally.

For investors, Wasion Information’s focus on increasing innovation and research and development, particularly in chip technology and artificial intelligence applications, reflects its commitment to technological advancement. The company’s earnings distribution plan for 2023 includes a cash dividend increase and share repurchases, demonstrating a dedication to enhancing investor returns.

Moving forward, Wasion Information remains committed to its long-term incentive plans and equity incentives to align the interests of management and shareholders. With a clear strategic vision and strong technological foundation, the company is poised for continued growth and success in the digital smart grids and smart cities space.

Disclaimer: The content in this article serves as reference only and does not constitute investment advice. Securities Times encourages readers to conduct their own research and take caution when making investment decisions.

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