Enlight Media(SZ:300251)2024-09-24 01:37Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company is focusing on breakthrough in realistic themes, with successful releases like "The 20th Article" achieving a cumulative box office of 2.45 billion [5] - The company has established a leading position in China's animation film sector, having started its strategic focus on animation films in 2015, and is actively exploring AI integration in production [5] - The company has a rich IP reserve, with multiple animation projects in development, and is implementing a "321 plan" to cultivate internal talent [5] - The profit forecast has been adjusted, with expected net profits of 684 million, 1.003 billion, and 1.194 billion for 2024-2026, respectively [5] Financial Summary - For H1 2024, the company achieved revenue of 1.33 billion and a net profit of 473 million, with a projected revenue growth of 11.7% in 2024 [7] - The company’s earnings per share are expected to increase from 0.23 in 2024 to 0.41 in 2026, reflecting a positive growth trajectory [9] - The company's PE ratios for 2024-2026 are projected to be 28, 19, and 16, respectively, indicating a favorable valuation compared to historical averages [5][7]