Guangdong Aofei Data Technology (300738) 民生证券·2024-08-28 13:30Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Insights - In the first half of 2024, the company achieved operating revenue of 1.06 billion yuan, a year-on-year increase of 59%, and a net profit attributable to shareholders of 75.71 million yuan, up 3% year-on-year [2]. - The company's IDC business is accelerating, driven by strong demand for computing power related to AI and new technologies, with significant growth in internet comprehensive services revenue, which increased by 467% year-on-year [2]. - The company is actively constructing five self-built data center projects to meet high computing power demands, with over 39,000 cabinets and more than 240,000 square meters of data center space by the end of the reporting period [2]. - The acquisition of a 70% stake in Sichuan Huatuo Optical Communication Co., Ltd. for 117.37 million yuan positions the company in the optical module sector [2]. - Revenue forecasts for 2024-2026 are projected at 1.72 billion, 2.11 billion, and 2.61 billion yuan, with net profits of 200 million, 310 million, and 460 million yuan respectively, indicating a strong growth trajectory [2]. Financial Summary - For 2024, the company is expected to have an operating income of 1.72 billion yuan, with a growth rate of 28.54% [4]. - The net profit for 2024 is projected to be 202 million yuan, reflecting a growth rate of 42.76% [4]. - The company's earnings per share (EPS) is forecasted to be 0.21 yuan in 2024, with a price-to-earnings (P/E) ratio of 42 [4].