ZHONGJI INNOLIGHT(SZ:300308) Guolian Securities·2024-07-16 01:30Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company is expected to achieve a significant increase in net profit for the first half of 2024, with estimates ranging from 2.15 billion to 2.50 billion yuan, representing a year-on-year growth of 250.30% to 307.33% [4] - The growth in revenue and net profit is attributed to the rapid increase in the shipment proportion of high-end products such as 800G and 400G optical modules [5] - The company has adjusted the use of raised funds to enhance production capacity, specifically for the high-end optical module production base [6] - Revenue and net profit forecasts for 2024-2026 have been revised upwards due to the continued growth of high-end products, with projected revenues of 255.95 billion yuan, 379.56 billion yuan, and 491.07 billion yuan respectively [7] Financial Data Summary - Total share capital is 1,121.17 million shares, with a circulating market value of 167,491.07 million yuan [1] - The company's revenue for 2022 was 9,642 million yuan, with a projected revenue of 25,595 million yuan for 2024, reflecting a growth rate of 138.80% [1][9] - The net profit for 2022 was 1,224 million yuan, with a projected net profit of 5,165 million yuan for 2024, indicating a growth rate of 137.65% [1][9] - The earnings per share (EPS) is expected to rise from 1.09 yuan in 2022 to 4.61 yuan in 2024 [1][9] - The company's price-to-earnings (P/E) ratio is projected to decrease from 137.5 in 2022 to 32.6 in 2024 [1][9]