State Power Rixin Technology (301162) 国泰君安·2024-10-29 14:08Investment Rating - The report maintains a "Buy" rating for the company with a target price of 64.33 CNY, corresponding to a PE ratio of 49.87 for 2024 [5][7]. Core Insights - The company has shown steady growth in its core business, with a revenue of 365 million CNY for the first three quarters of 2024, representing an 18.15% year-on-year increase. The net profit attributable to shareholders reached 53.21 million CNY, up 2.69% year-on-year [3][5]. - The company is actively expanding its innovative business segments, particularly in the areas of power prediction for distributed photovoltaic power stations and other new energy management systems, which are expected to accelerate revenue growth [5][6]. - The launch of the "Kuangming" large model for renewable energy prediction has significantly improved prediction accuracy and efficiency, further solidifying the company's leading position in the market [5][6]. Financial Summary - The company’s projected earnings per share (EPS) for 2024, 2025, and 2026 are 1.29 CNY, 1.65 CNY, and 2.21 CNY respectively [5][6]. - Revenue is expected to grow from 456 million CNY in 2023 to 608 million CNY in 2024, reflecting a growth rate of 33.4% [6]. - The net profit attributable to shareholders is forecasted to increase from 84 million CNY in 2023 to 129 million CNY in 2024, indicating a growth rate of 53.0% [6].