Shouxiangu(SH:603896) Great Wall Securities·2024-07-07 03:01Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% relative to the industry index within the next six months [24]. Core Insights - The company has received the National Science and Technology Progress Award for its project on "Key Technology Innovation and Application of the Whole Industry Chain of Edible and Medicinal Fungi," showcasing its strong research capabilities and product competitiveness [2][20]. - The company is focusing on marketing reforms and expects demand recovery, with a projected net profit of 295 million yuan, 331 million yuan, and 370 million yuan for 2024, 2025, and 2026 respectively [30][28]. - The company is actively restructuring its marketing strategy, aiming to enhance brand, product, channel, and organizational planning, which is expected to solidify its market position [37]. Financial Summary - The company's revenue for 2022 was 829 million yuan, with a projected revenue of 784 million yuan for 2023, and expected growth to 890 million yuan in 2024 [6][12]. - The net profit for 2022 was 278 million yuan, with a forecasted decline to 254 million yuan in 2023, followed by a recovery to 295 million yuan in 2024 [6][12]. - The company's EPS (Earnings Per Share) is projected to be 1.40 yuan for 2022, decreasing to 1.28 yuan in 2023, and then increasing to 1.49 yuan in 2024 [12][30].