Wencan(603348) 东吴证券·2024-08-21 12:00Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company reported a revenue of 3.076 billion yuan in the first half of 2024, representing a year-on-year growth of 20.07%, and a net profit attributable to shareholders of 82 million yuan, up 488.19% year-on-year [2] - In Q2 2024, the company achieved a revenue of 1.596 billion yuan, with a year-on-year increase of 23.75% and a quarter-on-quarter increase of 7.81% [2] - The company is focusing on large integrated body structure components, with core customers such as Seres and NIO driving growth [2] Financial Forecasts and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 has been adjusted to 282 million yuan, 489 million yuan, and 676 million yuan respectively, with corresponding EPS of 0.91 yuan, 1.59 yuan, and 2.19 yuan [3] - The P/E ratios for 2024-2026 are projected to be 23.49, 13.51, and 9.78 respectively, indicating a favorable valuation outlook [3]