Investment Rating - The report assigns a "Strong Buy" rating to the company with a target price of 266.2 CNY, compared to the current price of 215.00 CNY [1]. Core Insights - The company has once again won a bid from the State Grid Corporation of China for a digital project, showcasing its strong customer loyalty and confidence in development [1]. - The company is recognized as a leading player in the domestic database market, with a compound annual growth rate (CAGR) of 29.62% in revenue from 2018 to 2023, and net profit increasing from 89 million CNY in 2019 to 296 million CNY in 2023 [1]. - The domestic database market is expected to grow significantly, with a projected market size of 128.68 billion CNY by 2027, reflecting a CAGR of 26.1% [1]. - The company anticipates revenue growth in various sectors, including military, finance, energy, and government, with expected revenue for the first half of 2024 ranging from 317 to 340 million CNY, representing a year-on-year growth of 10.27% to 18.27% [1]. Financial Summary - Total revenue for 2023 is reported at 794 million CNY, with projections of 974 million CNY for 2024, 1.229 billion CNY for 2025, and 1.517 billion CNY for 2026, indicating growth rates of 15.4%, 22.6%, 26.2%, and 23.5% respectively [2]. - Net profit for 2023 is 296 million CNY, with forecasts of 368 million CNY for 2024, 443 million CNY for 2025, and 524 million CNY for 2026, showing growth rates of 10.1%, 24.3%, 20.5%, and 18.3% respectively [2]. - Earnings per share (EPS) are projected to increase from 3.90 CNY in 2023 to 4.84 CNY in 2024, 5.83 CNY in 2025, and 6.90 CNY in 2026 [2].
达梦数据：重大事项点评：再次中标电网项目，优质客户彰显发展信心