JIULI Hi-tech(SZ:002318) Huafu Securities·2024-11-01 03:13Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 20% relative to the market benchmark index within the next six months [15]. Core Insights - The company reported a 16.07% year-on-year increase in revenue for the first three quarters of 2024, reaching 7.143 billion yuan, while net profit attributable to shareholders decreased by 5.68% to 1.045 billion yuan [1][2]. - Excluding investment income, the operating profit increased by 54% year-on-year, amounting to 1.195 billion yuan, while net investment income fell by 4.75 million yuan due to the previous year's equity disposal [2][3]. - The company's gross margin improved by 2.16 percentage points to 26.93%, reflecting enhanced core business profitability driven by a high-end strategy and product optimization [2]. Financial Performance Summary - For 2024, the company is projected to achieve revenues of 10.213 billion yuan, with net profits expected to be 1.4 billion yuan, reflecting a decrease of 6% compared to the previous forecast [4][11]. - The earnings per share (EPS) for 2024 is estimated at 1.43 yuan, with a price-to-earnings (P/E) ratio of 15.8 [4][11]. - The company’s financial metrics indicate a steady growth trajectory, with projected revenues increasing to 12.262 billion yuan in 2025 and 13.277 billion yuan in 2026 [4][12][13].