XUEDA(000526) 华金证券·2024-11-01 14:40Investment Rating - The report maintains a "Buy-A" rating for the company [4] Core Insights - The company achieved a total revenue of 2.247 billion with a year-on-year growth of 25.29% and a net profit of 176 million, reflecting a 50.16% increase [1] - The sales gross margin for the first three quarters of 2024 was 34.98%, up by 0.55 percentage points year-on-year, while the net profit margin increased by 1.33 percentage points to 7.70% [2] - The company is focusing on business transformation and has identified four core business segments: personalized education, vocational education, cultural reading, and medical-education integration [2] - The company plans to invest 494 million in new business areas, including vocational education and cultural service projects [2] Financial Data and Valuation - The projected net profit for the company from 2024 to 2026 is estimated at 230 million, 323 million, and 464 million respectively, with EPS expected to be 1.86, 2.62, and 3.77 [3] - The P/E ratios for the same period are projected to be 25.3, 18.0, and 12.5 [3] - The company reported a total revenue of 2.748 billion for 2024E, with a year-on-year growth of 24.2% [7] - The net profit for 2024E is projected at 230 million, showing a year-on-year growth of 49.3% [7]