Kinwong(603228) 华金证券·2024-07-03 23:00Investment Rating - The investment rating for the company is "Buy-A" (maintained) [1] Core Insights - The company is expected to achieve a net profit attributable to shareholders of the parent company between 637.89 million and 701.68 million yuan for the first half of 2024, representing a year-on-year increase of 57.94% to 73.74% [8][9] - The company has seen a continuous increase in capacity utilization, driven by improved demand and successful client acquisition [9][10] - The company has made significant progress in developing high-end products and has successfully onboarded key clients, enhancing its competitive position [10][13] Financial Data and Valuation - The total market capitalization of the company is approximately 26,010.96 million yuan [2][6] - The total share capital is 855.91 million shares [3][7] - The company forecasts revenues of 12,397 million yuan, 14,287 million yuan, and 16,467 million yuan for the years 2024, 2025, and 2026 respectively, with net profits of 1,232 million yuan, 1,497 million yuan, and 1,806 million yuan for the same years [11][12] - The projected P/E ratios for 2024, 2025, and 2026 are 21.1, 17.4, and 14.4 respectively [11][12]