STEC(600820)2024-09-02 05:09Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company reported a revenue of 28.034 billion yuan for the first half of 2024, a year-on-year increase of 1.69%, and a net profit attributable to shareholders of 0.786 billion yuan, up 0.78% year-on-year [1]. - The construction and design revenues showed steady growth, while emerging businesses like digital information and financing leasing experienced rapid growth [1]. - New signed orders grew steadily, with a 9.08% year-on-year increase, particularly in energy engineering, which saw a 53.88% increase [1]. Financial Performance Summary - Revenue for 2024 is projected to be 80.557 billion yuan, with a growth rate of 8.58% [3]. - The net profit attributable to shareholders is expected to be 3.054 billion yuan in 2024, reflecting a growth of 3.93% [3]. - The gross profit margin is forecasted to be 9.78% in 2024, down from 10.28% in 2023 [3]. - The company’s P/E ratios for 2024, 2025, and 2026 are projected to be 7.10, 6.43, and 5.94 respectively [2][3].