Investment Rating - The report maintains a "Buy" rating for the company [5][13]. Core Views - The company, now renamed "Qingmu Technology," is leveraging AI to enhance operational efficiency and reduce costs, with significant growth expected in its business segments [14]. - The brand incubation business is showing growth, with a notable increase in sales for the joint brand CUMLAUDE, achieving over 30% growth in internal business scale [4]. - The company is positioned as a leading internet e-commerce service provider, with a strong foothold in the apparel sector and a promising second growth curve through brand incubation and cross-border expansion [5]. Financial Performance and Forecast - The company expects a substantial increase in net profit for the first half of 2024, projecting a range of 60 million to 70 million yuan, representing a year-on-year growth of 45.27% to 69.48% [3]. - Revenue forecasts for 2024 to 2026 are 1.173 billion, 1.553 billion, and 2.078 billion yuan, with corresponding year-on-year growth rates of 21.3%, 32.4%, and 33.8% [5]. - Net profit forecasts for the same period are 153 million, 233 million, and 318 million yuan, with year-on-year growth rates of 193.7%, 52.4%, and 36.3% [5]. Market Performance - The company has shown a relative performance improvement compared to the CSI 300 index, with absolute growth rates of 7.23% over one month and 18.40% over three months [1]. - The stock price is currently at 29.35 yuan, with a market capitalization of approximately 2.73 billion yuan [1][17]. Business Segments - The traditional e-commerce operation service continues to strengthen its market position, particularly in the outdoor apparel sector, with significant awards received for its service capabilities [15]. - The e-commerce live streaming service has also seen substantial growth, with a 125% increase in GMV during the 618 shopping festival, solidifying its industry ranking [15].
青木科技：24H1业绩预告点评：业绩延续高增长，AI赋能和品牌管理带来广阔空间