CAPCHEM(300037) China Post Securities·2024-11-01 01:01Investment Rating - The report maintains a "Buy" rating for the company, with a projected increase in net profit for the years 2024 to 2026 [6]. Core Insights - The company reported a revenue of 5.667 billion yuan for the first nine months of 2024, a year-on-year increase of 1.51%, while the net profit attributable to shareholders decreased by 12% to 701 million yuan [3][4]. - The company has a stable growth in overseas orders for electrolyte products, with a total disclosed overseas order amount of approximately 3.2 billion USD [4]. - The organic fluorochemical business is experiencing steady growth, with significant demand for second-generation products and successful progress in the Haidefu project [5]. Financial Summary - For 2024, the company is expected to achieve a net profit of 1.176 billion yuan, representing a year-on-year growth of 16.32% [7]. - The projected revenue for 2024 is 8.157 billion yuan, with a growth rate of 9% [7]. - The company's earnings per share (EPS) is forecasted to be 1.56 yuan for 2024, with a corresponding price-to-earnings (P/E) ratio of 24.70 [7][9].