SCIYON(002380) 中邮证券·2024-08-27 05:05Investment Rating - The report maintains a "Buy" rating for the company [2] Core Insights - The company has experienced rapid growth in H1 2024, with total revenue reaching 805 million yuan, a year-on-year increase of 16.24%, and a net profit attributable to shareholders of 110 million yuan, up 153.55% year-on-year. Excluding share-based payment expenses, the net profit increased by 169.75% [3][4] - The growth is driven by favorable policies in energy security, equipment upgrades, and the implementation of industrial artificial intelligence projects, which are gradually gaining traction [4] - The company is focusing on industrial automation, information technology, and smart solutions, with expected EPS for 2024-2026 projected at 1.03, 1.38, and 1.79 yuan, respectively, corresponding to P/E ratios of 15.12, 11.30, and 8.71 [5] Financial Performance Summary - For H1 2024, the company reported a total revenue of 805 million yuan and a net profit of 110 million yuan, with significant growth rates of 16.24% and 153.55% respectively [3] - The company’s revenue is projected to grow from 1.407 billion yuan in 2023 to 3.261 billion yuan in 2026, with annual growth rates of 21.90%, 32.00%, 32.00%, and 33.00% [6][8] - The net profit attributable to shareholders is expected to increase from 160.77 million yuan in 2023 to 429.81 million yuan in 2026, with growth rates of 137.07%, 54.04%, 33.73%, and 29.78% [6][8]