Jetsen(300182) 华金证券·2024-07-30 04:30Investment Rating - The report maintains a "Buy - A" rating for the company, indicating an expected investment return exceeding the CSI 300 index by more than 15% over the next six months [15][19]. Core Insights - The company focuses on content copyright as its core business, exploring new growth opportunities through AI-related technologies. The launch of its AI intelligent creation engine, ChatPV, marks a significant step in enhancing content production capabilities [3][4][11]. - The company has accumulated over 200,000 hours of copyright material in film, animation, and audio-visual programs, positioning itself well in the evolving media landscape [12]. - The financial forecasts predict a recovery in revenue and profit, with expected net profits of 600 million, 608 million, and 684 million yuan for 2024, 2025, and 2026 respectively, alongside an EPS of 0.23, 0.23, and 0.26 yuan [13][17]. Financial Summary - Revenue is projected to recover from 2,800 million yuan in 2023 to 3,125 million yuan in 2024, with a year-on-year growth of 11.6% [4][17]. - The gross margin is expected to remain stable, with slight fluctuations, projected at 31.5% in 2023 and 32.6% in 2024 [4][17]. - The company's total assets are forecasted to grow from 10,641 million yuan in 2023 to 12,896 million yuan by 2026, indicating a solid asset base for future operations [17].