Skyverse Technology (688361) 华鑫证券·2024-06-30 05:30Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][4]. Core Insights - The company has achieved significant revenue growth, with a reported revenue of 891 million yuan in 2023, representing a year-on-year increase of 74.95% [2][4]. - The introduction of an AI-driven yield management system has enhanced the production line capabilities, integrating quality control equipment with intelligent software [2][4]. - The company plans to utilize 308 million yuan from its oversubscription of the IPO to expand its high-end semiconductor quality control equipment industrialization project [3][4]. Revenue and Profit Forecast - Revenue projections for 2024, 2025, and 2026 are 1.313 billion yuan, 1.829 billion yuan, and 2.465 billion yuan, respectively, with corresponding EPS of 0.63 yuan, 0.94 yuan, and 1.36 yuan [4][5]. - The company is expected to maintain a strong growth trajectory, with revenue growth rates of 47.4%, 39.3%, and 34.8% for the forecasted years [5][6]. Financial Performance - The net profit attributable to the parent company is forecasted to increase significantly, from 140 million yuan in 2023 to 435 million yuan in 2026, reflecting a growth rate of 1095.1% in 2023 [5][6]. - The company's return on equity (ROE) is projected to rise from 5.8% in 2023 to 13.4% in 2026, indicating improved profitability [5][6].