Investment Rating - The report maintains a "Buy" rating for the company, with a current PE ratio of 49.24 and a latest closing price of 15.23 CNY [2][6][15]. Core Insights - The company has turned a profit in H1 2024, with expected revenue growth of 25%-32% year-on-year, driven by a focus on strategic clients and enhanced project management [3][16]. - The company is actively promoting EAM/EPM/ERP pilot applications in the信创 (Xinchuang) industry, which is expected to accelerate growth [4][17]. - The actual controller and related parties have increased their holdings, and the share buyback program has bolstered investor confidence [5][6]. Financial Performance Summary - Revenue is projected to grow from 749 million CNY in 2023 to 1,417 million CNY by 2026, with a CAGR of approximately 23.44% [7][8]. - The net profit attributable to the parent company is expected to rise from 62.16 million CNY in 2023 to 264.46 million CNY in 2026, reflecting a significant recovery and growth trajectory [7][8]. - EPS is forecasted to increase from 0.31 CNY in 2023 to 1.31 CNY in 2026, with corresponding PE ratios decreasing from 49.62 to 11.66 [7][8]. Market Position and Strategy - The company is focusing on the energy and financial insurance sectors, actively advancing large-scale信创 projects to establish a solid product foundation for future market expansion [17]. - The信创 industry is expected to see a peak in procurement in 2024, as the government emphasizes the establishment of a robust information standard system by 2027 [17].
普联软件：H1业绩扭亏为盈，央企信创打开成长空间