GLARUNTECH(SH:600562) Soochow Securities·2024-08-27 00:03Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has a broad development outlook and stable performance, achieving a revenue of 1.559 billion yuan in the first half of 2024, which is roughly flat compared to the same period last year, and a net profit attributable to shareholders of 346 million yuan, representing a year-on-year growth of 3.14% [1][2] - The company is actively expanding into emerging industries, focusing on its core business, enhancing market development, and driving technological innovation [1][2] - The self-developed industrial software is steadily advancing, capturing opportunities for domestic substitution in various industries [2] - The company is positioned as a core supplier of defense radar and industrial software under the China Electronics Technology Group Corporation, with a positive outlook for profit growth in the coming years [2] Financial Performance Summary - The total revenue for 2022 was 3.225 billion yuan, with a forecasted increase to 3.785 billion yuan in 2024, reflecting a year-on-year growth of 15.34% [1][8] - The net profit attributable to shareholders is projected to grow from 599 million yuan in 2023 to 744 million yuan in 2024, with a corresponding growth rate of 24.12% [1][8] - The earnings per share (EPS) is expected to rise from 0.48 yuan in 2023 to 0.60 yuan in 2024 [1][8] Strategic Development - The company is expanding its future industry development in response to increasing demand for meteorological radar and supportive policies for low-altitude economy and commercial aerospace [2] - The industrial software and intelligent manufacturing sectors are penetrating core areas of the industrial field, presenting numerous future development opportunities [2] - The company showcased its products and technical solutions at the International Urban Rail Transit Exhibition and Summit Forum, aiming to explore international markets [2]