IFLYTEK(SZ:002230) ZHESHANG SECURITIES·2024-10-27 05:23Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Viewpoints - The company officially launched the "Xunfei Spark 4.0 Turbo" model, which surpasses GPT-4 Turbo in core capabilities, particularly in mathematics and coding [1][2] - The company has initiated the "Feixing No. 2" project, a domestic ultra-large-scale computing platform, in collaboration with Huawei and Hefei Big Data Asset Operation Co., Ltd [3] - The company is expected to benefit significantly from policies promoting AI in education, with plans to establish 100 AI application scenario benchmark schools by 2025 [4] Financial Forecast and Valuation - The company is projected to achieve revenues of 235.01 billion, 300.99 billion, and 377.42 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 19.60%, 28.07%, and 25.39% [4][7] - The net profit attributable to the parent company is expected to reach 5.30 billion, 8.38 billion, and 14.09 billion yuan for the same years, with respective growth rates of -19.32%, 58.04%, and 68.11% [4][7] - The earnings per share (EPS) are forecasted to be 0.23, 0.36, and 0.61 yuan for 2024, 2025, and 2026 [4][7]