Luxi Chemical(000830) 申万宏源·2024-07-22 08:31Investment Rating - The report maintains an "Outperform" rating for the company [4] Core Views - The company is expected to achieve a net profit attributable to shareholders of 1.1 billion to 1.2 billion yuan for the first half of 2024, representing a year-on-year increase of 467.04% to 518.59% [4] - The second quarter of 2024 is projected to show a net profit of 532 million to 632 million yuan, indicating a turnaround from losses year-on-year [4] - The company is experiencing a favorable environment in the butanol industry chain, with rising prices for products such as isobutyraldehyde and NPG, while coal costs have significantly eased [4] - Ongoing construction projects are progressing well, supporting long-term growth potential, with several new projects expected to come online in the near future [4] Financial Summary - The company reported total revenue of 25.36 billion yuan in 2023, with a projected increase to 28.66 billion yuan in 2024, reflecting a year-on-year growth rate of 13% [5] - The net profit for 2023 was 819 million yuan, with expectations of 2.19 billion yuan in 2024, indicating a substantial year-on-year growth of 167.4% [5] - The earnings per share are forecasted to rise from 0.43 yuan in 2023 to 1.14 yuan in 2024 [5][7]