State Power Rixin Technology (301162) 长城证券·2024-10-29 10:42Investment Rating - The investment rating for Guoneng Rixin is "Buy" with a maintained rating [4][6]. Core Viewpoints - The company reported a revenue of 365 million yuan for Q3 2024, representing a year-on-year growth of 18.15%, while the net profit attributable to shareholders was 53.21 million yuan, up 2.69% year-on-year [2][3]. - The company is focusing on AI technology to enhance its services in the electricity market, particularly in the context of renewable energy trading [3][6]. - Despite short-term profit pressure due to rising expenses, the company is expected to achieve significant revenue and profit growth in the coming years [2][6]. Financial Summary - Revenue growth rates are projected at 22.6%, 23.7%, and 28.4% for 2024E, 2025E, and 2026E respectively [6][9]. - The net profit attributable to shareholders is expected to reach 100 million yuan in 2024E, 136 million yuan in 2025E, and 177 million yuan in 2026E [6][9]. - The company's EPS is forecasted to be 1.00 yuan in 2024E, 1.36 yuan in 2025E, and 1.77 yuan in 2026E [6][9]. - The P/E ratio is projected to decrease from 44.6 in 2024E to 25.3 in 2026E, indicating improving valuation [6][9].