INESA-it(SH:600602) Soochow Securities·2024-08-26 14:37Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company achieved a revenue of 2.89 billion yuan in H1 2024, representing a year-on-year growth of 15.70%. The net profit attributable to shareholders was 113 million yuan, up 21.78% year-on-year, and the net profit excluding non-recurring items was 97 million yuan, an increase of 12.04% [1][2] - In Q2 2024, the company reported a revenue of 1.47 billion yuan, a year-on-year increase of 5.36%, with a net profit of 53 million yuan, up 3.64% year-on-year. The net profit excluding non-recurring items decreased by 26.36% [1][2] - The company is actively expanding its market presence, securing multiple benchmark clients across various sectors, including transportation, entertainment, municipal services, healthcare, and government information technology [2] - The company is advancing its artificial intelligence initiatives, with the second phase of its computing power project progressing rapidly. It has been selected as the executive vice-chairman unit of the "China Artificial Intelligence Industry Development Alliance" [2] Financial Forecasts - The company forecasts total revenue of 6.00 billion yuan for 2024, with a year-on-year growth of 14.03%. The net profit attributable to shareholders is projected to be 215 million yuan, reflecting an 11.47% increase [1][2] - The earnings per share (EPS) is expected to be 0.16 yuan in 2024, with a price-to-earnings (P/E) ratio of 60.17 based on the latest diluted EPS [1][2] - The company maintains its net profit forecasts for 2024-2026 at 215 million, 238 million, and 263 million yuan respectively [2]