CVTE(SZ:002841)2024-09-26 07:38Investment Rating - The report maintains a "Buy" rating for the company [5][6]. Core Views - The company's core product market share is leading, with a significant increase in the market share of its interactive smart panels. In H1 2024, the company's interactive smart panel market share reached 44.5%, while its MAXHUB interactive smart panel held a 27.1% share in the domestic IFPD conference market [5]. - The company is accelerating its overseas business expansion and establishing a global ecosystem, with partnerships with major players like Microsoft and Intel to enhance its presence in the European and American markets [5]. - The company is actively exploring AI in education, with the development of a "teaching-specific large model" and localized computing power, leading to the establishment of 7 key application demonstration areas covering over 300 schools [5]. - The company emphasizes shareholder returns, with a cash dividend distribution of approximately 592 million yuan in 2023, representing 43.19% of the net profit attributable to shareholders, an increase of over 7 percentage points year-on-year [5]. Financial Summary - The company's total revenue for 2023 was 20,173 million yuan, with a projected revenue of 22,210 million yuan for 2024, reflecting a year-on-year growth rate of 10.1% [7]. - The net profit attributable to the parent company for 2023 was 1,370 million yuan, with a forecasted net profit of 1,332 million yuan for 2024, indicating a slight decline of 2.8% [7]. - The earnings per share (EPS) for 2023 was 1.97 yuan, with an expected EPS of 1.91 yuan for 2024 [7]. - The company's gross margin is projected to be 24.3% in 2024, with a return on equity (ROE) of 9.6% [7].