Guosheng Intelligence(SH:688558) Soochow Securities·2024-11-01 17:32Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company achieved positive revenue and profit growth in Q3 2024, with a revenue of 279 million yuan, up 0.21% year-on-year, and a net profit of 37 million yuan, up 20.33% year-on-year [2] - The overall revenue for the first three quarters of 2024 was 799 million yuan, down 5.65% year-on-year, while the net profit was 99 million yuan, down 13.79% year-on-year, primarily due to weak demand in the machine tool industry [2] - The company is focusing on R&D innovation and market expansion, particularly in aerospace and component processing, enhancing product competitiveness and expanding overseas market channels [4] Financial Performance Summary - For 2024, the company forecasts total revenue of 1,041 million yuan, a decrease of 5.72% year-on-year, and a net profit of 132 million yuan, a decrease of 7.30% year-on-year [1][10] - The gross margin for the first three quarters of 2024 was 24.17%, down 1.25 percentage points year-on-year, while the gross margin for Q3 2024 improved to 26.20%, up 1.13 percentage points year-on-year [3] - The company’s R&D expenses for the first three quarters of 2024 were 55 million yuan, with a slight increase in the expense ratio [3][10] Market Data - The closing price of the company's stock is 20.14 yuan, with a market capitalization of approximately 2,658.48 million yuan [6] - The company has a price-to-earnings (P/E) ratio of 18.63 based on the latest diluted earnings per share [6][11]