Taiji Corp,Ltd(SZ:002368) EBSCN·2024-10-28 12:14Investment Rating - The report maintains a rating of "Add" for the company [5]. Core Views - The company possesses a core advantage characterized by "close to data, wide application, and strong management" [2]. - The central government has issued a systematic deployment for the development and utilization of public data resources, aiming for significant improvements by 2025 and a mature system by 2030 [1]. Revenue and Profit Forecast - The revenue forecast for 2024 and 2025 has been adjusted down to 9.896 billion and 11.177 billion respectively, representing a decrease of 24% and 27% from previous estimates. The forecast for 2026 is set at 12.649 billion [3]. - The net profit forecast for 2024 and 2025 has been revised down to 432 million and 528 million respectively, a reduction of 30% and 37% from earlier predictions. The forecast for 2026 is 686 million [3]. Financial Metrics - The current market capitalization corresponds to a PE ratio of 37x for 2024, 30x for 2025, and 23x for 2026 [3]. - The company’s revenue growth rate is projected to be 7.63% in 2024, 12.94% in 2025, and 13.17% in 2026 [4]. - The net profit growth rate is expected to be 15.04% in 2024, 22.38% in 2025, and 29.84% in 2026 [4]. Key Financial Data - The company’s revenue for 2022 was 10.601 billion, with a forecast of 9.195 billion for 2023, and projected revenues of 9.896 billion in 2024, 11.177 billion in 2025, and 12.649 billion in 2026 [4][7]. - The net profit for 2022 was 378 million, with forecasts of 375 million for 2023, and projected profits of 432 million in 2024, 528 million in 2025, and 686 million in 2026 [4][7]. Market Position - The company has implemented over 100,000 service projects, enhancing data integration across various industries [2]. - The company has achieved a DCMM4 level certification, indicating the highest level of data management service capability recognized by the state [2].