Yealink(SZ:300628)2024-07-17 10:22Investment Rating - The report maintains a rating of "Add" for the company [6]. Core Viewpoints - The company is expected to achieve significant revenue growth in the first half of 2024, with projected revenue between 2.616 billion to 2.718 billion, representing a year-on-year increase of 28% to 33% [3]. - The net profit attributable to shareholders is forecasted to be between 1.338 billion to 1.390 billion, reflecting a growth of 30% to 35% year-on-year [3]. - The company continues to enhance its enterprise communication solutions and expand sales channels, solidifying its long-term competitive advantage [3]. - The company has established strategic partnerships with major players like Microsoft, Tencent, and Zoom, enhancing its product offerings in the unified communication space [7]. Summary by Sections Financial Performance - The company anticipates a revenue of 4.348 billion for 2023, with a projected growth rate of 24.38% for 2024, reaching 5.408 billion [8]. - The net profit for 2024 is expected to be 2.433 billion, with a growth rate of 21.07% [8]. - The earnings per share (EPS) for 2024 is projected at 1.93, with a price-to-earnings (P/E) ratio of 19.80 [8]. Market Position - The company is recognized as a global leader in communication and collaboration solutions, serving clients in over 140 countries [7]. - It holds the number one market share for SIP phones globally from 2017 to 2021 [7]. - The company has a strong patent portfolio and has achieved global leadership in several key technologies [7]. Product Development - The company has launched various innovative products, including the MeetingEye 500 Pro, which supports 4K video conferencing and advanced AI features [2]. - It has developed integrated solutions for smart cities and transportation sectors, enhancing its product applicability [2].