Jiayou International(SH:603871)2024-07-10 00:31Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [18][19]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 746 million to 796 million yuan for the first half of 2024, representing a year-on-year increase of 48% to 58% [18]. - The report highlights the strong growth in the company's coal business in Mongolia and the robust performance of its cross-border multimodal transport segment, alongside contributions from its African road and land port projects [19]. - The earnings forecast for 2024 to 2026 has been adjusted upwards, with projected net profits of 1.584 billion, 1.779 billion, and 2.010 billion yuan respectively, reflecting a positive growth trajectory [19]. Financial Summary - Total revenue for 2023 was 6,995 million yuan, with projections of 10,423 million yuan for 2024, indicating a year-on-year growth rate of 49% [7][21]. - The net profit for 2023 was 1,039 million yuan, with an expected increase to 1,584 million yuan in 2024, maintaining a growth rate of 52.5% [7][21]. - The company's earnings per share (EPS) is projected to rise from 1.06 yuan in 2023 to 1.62 yuan in 2024 [21].