Geovis(SH:688568)2024-07-15 04:01Investment Rating - The report maintains a "Buy" rating for the company [5][16]. Core Insights - The company is expected to achieve revenue of 1.05-1.15 billion yuan in H1 2024, representing a year-on-year growth of 45.40%-59.25%, and a net profit attributable to shareholders of 55-67 million yuan, with a year-on-year increase of 55.73%-89.70% [5]. - The company is experiencing sustained high growth due to robust demand in specialized fields such as water conservancy, meteorology, and low-altitude economy, which is expected to continue into Q2 2024 [16]. - The company is enhancing its product matrix and industry chain layout, focusing on the development of satellite manufacturing and constellation operations, aiming to build its own space-based capabilities [16]. - The company is positioned as a core player in the domestic digital earth sector, with significant growth potential driven by the acceleration of defense informatization and the development of online remote sensing data trading platforms [16]. - The earnings forecast for 2024-2026 is maintained at 484 million, 681 million, and 971 million yuan respectively, with corresponding PE ratios of 34, 24, and 17 times [16]. Financial Summary - The company reported total revenue of 2.516 billion yuan in 2023, with a projected increase to 3.730 billion yuan in 2024, reflecting a year-on-year growth rate of 48.3% [18]. - The net profit attributable to shareholders is expected to rise from 343 million yuan in 2023 to 484 million yuan in 2024, indicating a growth rate of 41.3% [18]. - The company’s gross margin is projected to be 47.9% in 2024, slightly decreasing from 48.3% in 2023 [18].