Vanward(SZ:002543)2024-10-08 11:10Investment Rating - The report maintains an "Outperform" investment rating for the company [6] Core Views - The company has announced a 2024 employee stock ownership plan aimed at deeply binding core executives and actively embracing a professional manager system [5] - The employee stock ownership plan is expected to raise a total of no more than 25.14 million yuan, with stock sourced from repurchased A-shares at a price of 4.91 yuan per share [5] - The performance targets for the stock unlock periods from 2024 to 2026 reflect the company's confidence in long-term stable development, with revenue growth targets of 10% annually [5] Financial Summary - For 2024, the company is projected to achieve total revenue of 7,081 million yuan, a year-on-year growth of 16% [4] - The net profit attributable to shareholders is expected to be 628 million yuan in 2024, reflecting a year-on-year increase of 10.5% [4] - The earnings per share (EPS) is forecasted to be 0.84 yuan in 2024, with a projected price-to-earnings (P/E) ratio of 12 [4][6] - The company's gross margin is expected to be 31.5% in 2024, with a return on equity (ROE) of 12.9% [4]