**"Ultrapar Holdings Sees Steady Revenue Growth: Navigating New Opportunities and Challenges in 2024

Performance Review

Ultrapar Holdings' total operating revenue at December 31, 2024 was Rmb34.501 billion, up approximately 5.93% from Rmb33.421 billion at December 31, 2023. This growth reflects the company's competitiveness and operational efficiency in the market, indicating continuous improvement in sales operations.

Key Financial Data

1. Ultrapar Holdings' total operating revenue in 2024 was Rmb34.501 billion, up Rmb1.98 billion from Rmb33.421 billion in 2023, representing an increase of approximately 5.93%.

2. The driving factors for revenue growth include increased market demand, product line optimization, effective marketing strategies, price adjustments, and the company's competitive edge in the industry.

3. Ultrapar's business expansion in high-value-added markets, especially in the international market, has supported revenue growth.

4. The company launched new products, particularly smart devices and solutions for high-value-added markets, enhancing market competitiveness.

5. The overall market environment in 2024 was favorable, with steady economic development promoting increased electricity demand, which had a positive impact on Ultrapar's energy business.

Peer Comparison

1. Industry-wide analysis: In the energy and chemical industry, the overall growth in market demand has driven the increase in operating revenue for many companies, reflecting signs of global economic recovery. In 2024, the industry's overall operating revenue generally showed a growth trend.

2. Peer evaluation analysis: Ultrapar's 5.93% increase in operating revenue is at a medium level in the industry, demonstrating its stability and competitiveness in the market. Although the growth rate is not the highest, it still shows the company's effective strategies in maintaining its customer base and expanding the market.

Summary

Ultrapar Holdings' revenue growth in 2024 was mainly driven by business expansion in high-value-added markets and increased market demand. Through the launch of new products and optimized market strategies, the company successfully enhanced its market position and competitiveness. Overall, the company's financial performance shows a robust growth potential.

Opportunities

1. Continue to expand in international markets, especially in high-value-added areas, to seize opportunities brought by the global economic recovery.

2. Strengthen cooperation with core customers and enhance the intelligence level of products to enhance market competitiveness.

3. Take advantage of the favorable market environment and consumer confidence to adjust product pricing strategies and increase sales revenue.

4. Continue to invest in marketing and brand building to enhance market awareness and market share.

5. Focus on new opportunities brought by the power market reform and adjust business strategies in a timely manner to adapt to market changes.

Risks

1. Intensified competition may affect the company's market share and profitability.

2. Fluctuations in international markets and geopolitical factors may affect the company's export business performance.

3. Price fluctuations brought by the power market reform may challenge the overall profit model.

4. The company's investment in new product development and market expansion may face uncertainties, affecting short-term financial performance.

5. Uncertainty in the macroeconomic environment may affect consumer demand and sales growth.