Smart Powerr Corp. (CREG) Bundle
An Overview of Smart Powerr Corp. (CREG)
General Summary of Smart Powerr Corp. (CREG)
Smart Powerr Corp., formerly known as China Recycling Energy Corporation, was incorporated in Nevada. The company focuses on providing energy-saving solutions, including the sale and leasing of energy-saving systems and equipment primarily in the People's Republic of China (PRC). As of 2024, Smart Powerr Corp. is transforming into an energy storage integrated solution provider, actively exploring opportunities in sectors such as industrial complexes, large-scale photovoltaic (PV) and wind power stations, and smart energy cities.
As of 2024, Smart Powerr Corp. has reported significant advancements in its product offerings, particularly in energy storage technologies, with a total sales revenue of approximately $82.3 million (RMB 595 million) from its agreements, including a prepayment of $68.17 million (RMB 476 million) for energy storage battery systems.
Company's Financial Performance in the Latest Financial Reports
In the latest financial reporting period ending September 30, 2024, Smart Powerr Corp. reported a net loss of $952,285, compared to a net loss of $518,069 for the same period in 2023. The company’s operating expenses increased to $747,540 from $606,105 year-over-year.
Despite the losses, the company experienced significant cash flow improvements, with net cash provided by investing activities recorded at $68,502,372 due to the repayment of a short-term loan. The company’s accumulated deficit as of September 30, 2024, stands at $61.45 million. Below is a summary of key financial metrics:
| Financial Metric | 2024 | 2023 |
|---|---|---|
| Net Loss | $952,285 | $518,069 |
| Operating Expenses | $747,540 | $606,105 |
| Cash at Period End | $69,117,942 | $67,950,506 |
| Accumulated Deficit | $61,449,656 | $60,497,371 |
Introduction to Company as a Leader in the Industry
Smart Powerr Corp. is positioned as a leader in the energy solutions sector, emphasizing innovative approaches to energy efficiency and storage. The company is strategically expanding its market presence by integrating energy storage solutions into its service offerings, targeting high-growth potential sectors such as renewable energy and smart city infrastructure. The ongoing transformation and investment in R&D signify the company’s commitment to remaining at the forefront of the energy industry. Investors and stakeholders are encouraged to explore further to understand the factors contributing to Smart Powerr Corp.'s success in this dynamic market.
Mission Statement of Smart Powerr Corp. (CREG)
Mission Statement Overview
Smart Powerr Corp. (CREG) has articulated a mission statement that reflects its commitment to providing innovative energy solutions and services. The mission serves as a guiding principle for the company's strategic objectives and daily operations, ensuring alignment with its long-term goals in the energy sector. The mission statement emphasizes quality, sustainability, and customer satisfaction, aiming to create value for stakeholders while contributing to a greener future.
Core Component 1: Commitment to Innovation
The first core component of Smart Powerr Corp.'s mission statement focuses on innovation. The company is dedicated to developing cutting-edge energy solutions, which is evident from its substantial investments in research and development. For instance, in 2024, Smart Powerr Corp. allocated $1 million for R&D initiatives aimed at enhancing its energy storage technologies and smart energy management platforms. This commitment is further illustrated by the creation of partnerships with technology firms to integrate advanced software solutions into its energy systems.
Core Component 2: Sustainability and Environmental Responsibility
Another critical aspect of the mission statement is the emphasis on sustainability. Smart Powerr Corp. aims to minimize environmental impact through its operations and products. As part of this commitment, the company has engaged in projects that utilize renewable energy sources such as solar and wind. The total investment in renewable projects reached approximately $82.3 million in 2024, highlighting the company's drive to promote clean energy solutions. Additionally, Smart Powerr Corp. actively seeks to apply energy storage technologies to various sectors, including industrial complexes and smart energy cities, thereby enhancing energy efficiency and reducing carbon footprints.
Core Component 3: Customer-Centric Approach
The final core component of the mission statement underscores a customer-centric approach. Smart Powerr Corp. prioritizes customer satisfaction by delivering high-quality products and services tailored to meet the specific needs of its clients. The company's operating expenses for 2024 included $747,540 for general and administrative costs, reflecting its investment in customer service and support. Furthermore, the company has reported zero sales for the nine months ended September 30, 2024, as it transitions to a new business model focused on energy storage integrated solutions, indicating a strategic pivot towards fulfilling emerging customer demands in the energy sector.
| Financial Metric | 2024 | 2023 | Change (%) |
|---|---|---|---|
| Net Loss | $952,285 | $518,069 | 83.67% |
| Operating Expenses | $747,540 | $606,105 | 23.34% |
| Cash and Equivalents | $69.12 million | $32,370 | >200,000% |
| Investment in R&D | $1,000,000 | N/A | N/A |
| Total Investment in Renewable Projects | $82.3 million | N/A | N/A |
Vision Statement of Smart Powerr Corp. (CREG)
Vision Statement Overview
The vision statement of Smart Powerr Corp. (CREG) as of 2024 emphasizes its commitment to becoming a leading energy storage solution provider. The company aims to innovate and expand its offerings in energy storage technologies while targeting high-growth segments in the energy sector.
Commitment to Innovation
Smart Powerr Corp. is dedicated to continuous innovation in energy storage technologies. The company is currently transforming its business model to focus on integrated energy storage solutions. This shift aims to enhance operational efficiency and meet the rising demand for sustainable energy solutions.
Expansion into New Markets
As part of its vision, Smart Powerr Corp. is pursuing disciplined expansion strategies. The company actively seeks to enter markets currently underserved by its offerings. This includes targeting:
- Industrial and commercial complexes
- Large-scale photovoltaic (PV) and wind power stations
- Remote islands without electricity
- Smart energy cities with multi-energy supplies
Financial Position and Growth Strategy
Financially, Smart Powerr Corp. reported a net loss of $952,285 for the nine months ended September 30, 2024, compared to a net loss of $518,069 for the same period in 2023. The company’s accumulated deficit stood at $61.45 million as of September 30, 2024. Despite these losses, the company maintains a strong cash position with cash and equivalents of $69.12 million. This liquidity enables Smart Powerr Corp. to invest in new technologies and expand its market presence effectively.
Strategic Partnerships and Collaborations
To bolster its expansion efforts, Smart Powerr Corp. is exploring partnerships with other companies in the energy sector. The company has entered into agreements to procure energy storage battery systems, such as a contract with Hubei Bangyu New Energy Technology Co., Ltd. for $82.3 million. Such collaborations are essential for driving innovation and enhancing the company's product offerings.
Commitment to Sustainability
Smart Powerr Corp.'s vision includes a strong emphasis on sustainability. The company aims to contribute to the global transition towards renewable energy by providing cutting-edge energy storage solutions. This commitment is reflected in its strategy to develop solutions that support large-scale renewable energy projects and promote energy efficiency across various sectors.
| Financial Metrics | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Loss | $262,731 | $180,723 | Increase of $82,008 |
| Cash and Equivalents | $69.12 million | $32.37 million | Increase of $36.75 million |
| Accumulated Deficit | $61.45 million | $60.27 million | Increase of $1.18 million |
| Operating Expenses | $188,295 | $146,870 | Increase of $41,425 |
Future Vision
Looking ahead, Smart Powerr Corp. aims to solidify its position as a leader in the energy storage market by leveraging its financial resources and strategic partnerships. The company is focused on achieving sustainable growth and delivering innovative solutions that meet the evolving needs of its customers.
Core Values of Smart Powerr Corp. (CREG)
Integrity
Integrity is a fundamental value at Smart Powerr Corp. (CREG). The company emphasizes ethical practices and transparency in all aspects of its operations. This commitment is evident in their adherence to regulatory compliance and ethical business practices.
In 2024, CREG maintained a strict compliance record, ensuring that all financial disclosures were accurate and timely. The company reported a net loss of $952,285 for the nine months ended September 30, 2024, compared to a net loss of $518,069 in the same period in 2023. This transparency in financial reporting reflects the company's dedication to integrity.
Innovation
Innovation drives Smart Powerr Corp.'s growth strategy as it transitions into energy storage solutions. The company is actively investing in research and development to enhance its product offerings. In 2024, CREG entered a purchase agreement worth $82.3 million with Hubei Bangyu New Energy Technology Co., Ltd. for energy storage battery systems.
The company is also developing a Smart Energy Management Cloud Platform, with a total R&D budget of $1,000,000. This initiative aims to optimize energy management for clients, showcasing CREG's commitment to innovative solutions in the energy sector.
Customer Focus
Smart Powerr Corp. prioritizes customer satisfaction through tailored solutions and responsive service. The company's focus on customer needs is reflected in its strategic partnerships and product development efforts. CREG has been actively exploring opportunities to apply energy storage technologies in various sectors, including industrial complexes and smart energy cities.
As of September 30, 2024, CREG reported a significant increase in cash and equivalents to $69.12 million, enabling the company to enhance its customer service capabilities.
Sustainability
Sustainability is a key value for Smart Powerr Corp., guiding its operations and strategic direction. The company is committed to providing energy solutions that reduce environmental impact. CREG’s transformation into an energy storage integrated solution provider aligns with global sustainability goals.
The company aims to develop energy solutions for remote islands and large-scale renewable projects, contributing to a sustainable future. CREG's initiatives in energy storage technology reinforce its commitment to sustainability and environmental stewardship.
Collaboration
Collaboration is essential to Smart Powerr Corp.'s strategy, fostering partnerships that enhance operational efficiency and innovation. The company has established collaborative agreements with various stakeholders to maximize the impact of its energy solutions.
As part of its collaborative efforts, CREG reported a liability-to-equity ratio of 0.25:1 as of September 30, 2024, indicating a healthy balance between collaboration and financial stability.
| Core Value | Description | 2024 Initiatives | Financial Impact |
|---|---|---|---|
| Integrity | Transparency and ethical practices | Timely financial disclosures | Net loss of $952,285 |
| Innovation | Driving growth through new technologies | Investment in R&D, energy storage systems | $82.3 million contract for battery systems |
| Customer Focus | Prioritizing customer satisfaction | Enhancing service capabilities | $69.12 million in cash reserves |
| Sustainability | Commitment to environmental stewardship | Developing solutions for renewable energy | Investment in sustainable technologies |
| Collaboration | Fostering partnerships | Strategic agreements with stakeholders | Liability-to-equity ratio of 0.25:1 |
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Resources:
- Smart Powerr Corp. (CREG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Smart Powerr Corp. (CREG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Smart Powerr Corp. (CREG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.