GRGTEST(002967) 国泰君安·2024-07-07 22:31Investment Rating - The report maintains an "Accumulate" rating for the company [3][10] - The target price is adjusted to 15.12, down from the previous forecast of 18.69 [3][10] Core Insights - The company's performance in H1 2024 meets expectations, with stable growth in special industries, automotive, and integrated circuits, while food and environmental testing sectors are reducing losses [3][10] - The company is implementing refined management practices, which are expected to enhance profitability [10] Financial Summary - Revenue for 2022 was 2,604 million, with projections of 2,889 million for 2023, and expected growth to 3,552 million in 2024, reflecting a year-on-year increase of 23.0% [5][12] - Net profit attributable to the parent company is forecasted to rise from 184 million in 2022 to 199 million in 2023, and further to 309 million in 2024, indicating a significant growth rate of 54.9% [5][12] - The company aims for an EPS of 0.54 in 2024, increasing to 0.70 in 2025 and 0.87 in 2026 [10][12] Market Data - The company's market capitalization is 6,834 million, with a current price of 11.88 [4][10] - The stock has traded within a range of 9.98 to 17.23 over the past 52 weeks [4][10] Business Development - The company is focusing on expanding its market presence in key sectors such as special industries, automotive, integrated circuits, and data science, leading to stable order growth [10] - Efforts to optimize organizational structure and cost management are underway, aiming to reduce losses in underperforming sectors [10]