CGT GROUP(000066) 民生证券·2024-09-03 16:08Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Insights - The company reported a total revenue of 6.076 billion yuan for the first half of 2024, representing a year-on-year growth of 21.23%. The net loss attributable to shareholders was 422 million yuan, an improvement from a loss of 633 million yuan in the same period last year [2]. - In Q2 2024, the company achieved a revenue growth rate of 21% year-on-year, with a significant reduction in net loss, indicating a clear recovery trend [2]. - The company is focusing on enhancing its technological capabilities and has launched several products in the domestic computing sector, including AI servers and a new AI PC, which are gaining traction in various government and industry applications [2]. - The investment suggestion highlights the company's role as a key player in China's computing industry, aiming for high-quality development in the context of domestic technology substitution [2]. Financial Performance Summary - For the first half of 2024, the company achieved a total revenue of 6.076 billion yuan, with a year-on-year growth of 21.23%. The net loss attributable to shareholders was 422 million yuan, improving from a loss of 633 million yuan in the previous year [2][3]. - The projected net profits for 2024, 2025, and 2026 are estimated to be 125 million yuan, 201 million yuan, and 348 million yuan respectively, with corresponding PE ratios of 208X, 129X, and 75X [2][3]. - The company’s revenue is expected to grow from 13.42 billion yuan in 2023 to 24.339 billion yuan by 2026, reflecting a compound annual growth rate of approximately 20% [6][7].