Linyang Energy released its 2023 annual report and 2024 first quarter report, with energy storage business growing at 253%

Linyang Energy released its 2023 annual report and 2024 first quarter report. In 2023, the company achieved revenue of 6.872 billion yuan, a year-on-year increase of 39.00%; net profit attributable to shareholders was 1.031 billion yuan, a year-on-year increase of 20.48%. However, the company's gross profit margin and net profit margin have declined to a certain extent. This is mainly due to the fact that the energy storage industry, as a new growth point, has occupied a large share of revenue, and the gross profit margin of the energy storage business is currently relatively low. In 2023, the company's energy storage and energy-saving industry revenue was 1.506 billion yuan, accounting for 21.92% of total revenue, and the gross profit margin was 16.09%, a year-on-year increase of 253.62%.