ZWSOFT(SH:688083) EBSCN·2024-10-17 10:03Investment Rating - The report maintains a positive outlook on the company, indicating a potential for continued growth in its core products and technologies [2]. Core Insights - The company has achieved a market share of 9.6% in the Chinese CAD market, ranking first among domestic manufacturers and fourth globally [1]. - The introduction of the 3D All-in-One CAx digital platform aims to break data silos and enhance information sharing, facilitating digital transformation in industrial enterprises [2]. - The report highlights the current digital maturity of Chinese enterprises, noting that many are transitioning from 2D to 3D model usage, with some larger firms beginning to adopt model-based definitions (MBD) [2]. - The company plans to focus on integrating and iterating its 3D model-based CAx platform to optimize production management processes and improve efficiency [2]. Financial Forecasts and Valuation - Revenue forecasts for 2024 and 2025 have been adjusted downwards to 986 million and 1.227 billion respectively, reflecting a decrease of 8% and 11% from previous estimates [2]. - Net profit forecasts for the same years have also been reduced to 80 million and 121 million, a significant decrease of 52% and 55% from prior predictions [2]. - The report projects revenue of 1.469 billion for 2026 and net profit of 176 million for the same year, indicating a recovery trend [2]. - Key financial metrics include an expected revenue growth rate of 19.08% in 2024 and 24.46% in 2025, with net profit growth rates of 30.51% and 51.13% respectively [4].