China Leadshine Technology (002979) Soochow Securities·2024-07-04 03:00Investment Rating - The report maintains a "Buy" rating for the company, with an expected increase in net profit for 2024-2026 [9]. Core Insights - The company is expected to achieve a year-on-year increase in net profit attributable to shareholders of 46-56% for H1 2024, with a forecasted net profit of 1.10-1.18 billion yuan [1]. - The company's transformation efforts are showing significant results, leading to a recovery in profits, with projected revenue growth of 20-40% in 2024 [4]. - The company has successfully launched new robotic products, indicating strong progress in its robotics business, with initial orders from nearly 100 robotics companies [19]. Financial Performance - The forecasted net profit for 2024 is adjusted to 232.11 million yuan, reflecting a 67.50% year-on-year increase, with corresponding P/E ratios of 24x, 17x, and 15x for 2024-2026 [9]. - The company's operating cash flow is expected to increase significantly from 88 million yuan in 2023 to 202 million yuan in 2024 [6]. - Revenue is projected to grow from 1.415 billion yuan in 2023 to 1.849 billion yuan in 2024, representing a 30.62% increase [18].