Create Century(SZ:300083)2024-08-21 05:10Investment Rating - The report maintains a "Recommended" rating for the company [3] Core Views - The company reported a revenue of 2.061 billion yuan for the first half of 2024, a year-on-year increase of 0.31%, while the net profit attributable to shareholders decreased by 23% to 158 million yuan [2] - The company's performance has shown improvement quarter by quarter, with Q2 2024 revenue reaching 1.205 billion yuan, a year-on-year increase of 30.39% and a quarter-on-quarter increase of 40.71% [2] - The company has a strong order backlog, with contract liabilities of 340 million yuan in the first half of 2024, reflecting a year-on-year growth of 26.35% [2] Financial Performance Summary - The company achieved a gross margin of 22.96% and a net margin of 8.01% in the first half of 2024, with a slight decline in both metrics compared to the previous year [2] - The company has effectively controlled its operating expenses, resulting in a 9.04% year-on-year decrease in period expenses for the first half of 2024 [2] - The company is expected to achieve net profits of 494 million yuan, 622 million yuan, and 764 million yuan for the years 2024, 2025, and 2026 respectively, with corresponding EPS of 0.30, 0.37, and 0.46 yuan [2][6]