Investment Rating - The investment rating for the company is "Accumulate" [4][7]. Core Insights - The company reported a 6.9% year-on-year increase in revenue for the first half of 2024, reaching 257 million yuan, while the net profit attributable to shareholders increased by 6.1% to 30.37 million yuan [2][7]. - The order backlog as of June 30, 2024, was 448 million yuan, reflecting a year-on-year growth of 47.9% [2][7]. - The company expects to achieve net profits of 65.46 million, 69.89 million, and 80.50 million yuan for the years 2024, 2025, and 2026 respectively, with a CAGR of 9.9% from 2023 to 2026 [2][7]. Summary by Sections Financial Performance - In Q2 2024, the company achieved revenue of 140 million yuan, a decrease of 3.3% year-on-year but an increase of 19.9% quarter-on-quarter [2][7]. - The gross profit margin for H1 2024 was 31.3%, an increase of 2.1 percentage points compared to the previous year [7]. - The operating cash flow for H1 2024 was 34.85 million yuan, a significant increase of 324.2% year-on-year [7]. Business Segments - The marine engineering and rail transit sectors showed strong growth, with rail transit revenue increasing by 36.9% year-on-year to 82.14 million yuan, accounting for 32% of total revenue [7]. - The wind power segment saw a significant decline, with revenue dropping by 49.9% year-on-year to 26.29 million yuan, representing 10.2% of total revenue [7]. - The marine engineering sector's revenue reached 52.94 million yuan, up 83.3% year-on-year, contributing 20.6% to total revenue [7]. Future Outlook - The company anticipates revenue growth to 583 million, 661 million, and 785 million yuan for the years 2024, 2025, and 2026 respectively, with a CAGR of 15.6% from 2023 to 2026 [2][7]. - The order backlog growth is expected to continue, driven by high demand in the rail transit and marine sectors [7].
克莱特：在手订单同比增长48%，业绩稳健增长