UNIS(SZ:000938) Great Wall Securities·2024-08-29 05:22Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [2][8]. Core Views - The company is leveraging opportunities in AIGC (Artificial Intelligence Generated Content) to drive steady revenue growth, with a focus on enhancing its product offerings across various sectors including networking, computing, security, storage, and cloud services [3][4]. - In the first half of 2024, the company reported revenue of 37.951 billion yuan, a year-on-year increase of 5.29%, while the net profit attributable to shareholders was 1 billion yuan, a decrease of 2.13% [3][4]. - The company has implemented a comprehensive "cloud-network-security-computing-storage-end" business strategy, which has led to the development of innovative solutions and significant project wins in various sectors, including government and finance [4][8]. Financial Summary - The company's revenue is projected to grow from 77.308 billion yuan in 2023 to 86.817 billion yuan in 2024, reflecting a year-on-year growth rate of 12.3% [2][10]. - The net profit attributable to shareholders is expected to increase from 2.103 billion yuan in 2023 to 2.414 billion yuan in 2024, representing a growth rate of 14.8% [2][10]. - The company's EPS (Earnings Per Share) is forecasted to rise from 0.74 yuan in 2023 to 0.84 yuan in 2024 [2][10]. Business Development - The company has successfully launched a financial intelligent computing network solution and an AIGC large model solution, enhancing its capabilities across various application scenarios [8]. - The subsidiary, Xinhua San, achieved revenue of 26.428 billion yuan in the first half of 2024, with a net profit of 1.820 billion yuan, showcasing strong performance in domestic and international markets [3][4]. - The company is actively expanding its overseas market presence, securing key projects in countries such as Singapore and Spain [8].