Sinoma-int(SH:600970)2024-10-30 03:30Investment Rating - The report maintains a "Recommended" rating for the company [2][5]. Core Views - The company reported a steady performance with revenue of 31.731 billion yuan for the first three quarters of 2024, reflecting a year-on-year growth of 0.7%. The net profit attributable to shareholders reached 2.06 billion yuan, up 2.9% year-on-year [1]. - The company experienced a significant increase in new contracts, particularly in mining operation services, which saw a 45% year-on-year growth, totaling 8.191 billion yuan [2]. - The company is committed to its international development strategy, leveraging both domestic and international markets, which indicates strong future growth potential [2]. Financial Performance Summary - For the first three quarters of 2024, the gross margin was 18.86%, an increase of 0.24 percentage points year-on-year, while the net profit margin was 6.85%, a slight decrease of 0.03 percentage points [1]. - The company’s asset-liability ratio decreased to 61.04%, down 0.78 percentage points year-on-year [1]. - The forecast for net profit attributable to shareholders for 2024-2026 is 3.215 billion, 3.743 billion, and 4.282 billion yuan, representing year-on-year growth rates of 10.27%, 16.41%, and 14.40% respectively [2][4].