ROYALFLUSH INFO(300033) Xin Lang Cai Jing·2025-05-12 10:37Core Insights - The company reported a revenue of 4.187 billion in 2024, representing a year-on-year growth of 17.47% [1] - The net profit attributable to shareholders reached 1.823 billion, with a year-on-year increase of 30.00% [1] - The first quarter of 2025 saw a revenue of 748 million, marking a year-on-year growth of 20.90% [1] Revenue Breakdown - The advertising and internet business promotion services experienced significant growth, with revenues of 2.025 billion, up 49.00% year-on-year [2] - Value-added telecommunications services generated 1.616 billion, reflecting a growth of 5.70% year-on-year, driven by the optimization of large model technology [2] - Fund distribution and other transaction services saw a decline, indicating mixed performance across different service segments [2] AI and Technology Advancements - The company has optimized its HithinkGPT large model capabilities, enhancing product competitiveness through a cost-effective training system [3] - The integration of large models with low-code and real-time financial data has led to the development of over 5,000 intelligent agents, with an average daily call volume exceeding 3 million [3] - Multiple intelligent products have been upgraded, including the investment assistant and the iFind financial data terminal, showcasing continuous innovation in AI applications [3] Investment Outlook - Given the anticipated increase in market transaction volumes, the company has adjusted its profit forecasts upward [4] - Projected revenues for 2025-2027 are 5.142 billion, 6.115 billion, and 7.042 billion, with net profits of 2.381 billion, 2.910 billion, and 3.505 billion respectively [4] - Corresponding EPS estimates are 4.43, 5.41, and 6.52, with current market PE ratios of 59, 48, and 40 [4]