Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company has shown strong growth in its leasing business, with a year-on-year increase of 35.39% in net profit attributable to the parent company for the first three quarters of 2024 [2] - The company achieved a revenue of 267 million yuan, representing a 19.10% increase year-on-year, and a net profit of 23.05 million yuan for the same period [2] - The company has a robust order backlog of 993 million yuan as of the end of September 2024, which is a 47.88% increase compared to the end of 2023 [2] - The company is optimistic about the development prospects of its computing power and high-speed rail informatization businesses [2] Financial Performance Summary - Revenue for 2024 is projected to be 553 million yuan, with a year-on-year growth of 31.3% [6] - Net profit for 2024 is expected to reach 47 million yuan, reflecting a year-on-year increase of 85.2% [6] - The company's gross margin is projected to be 22.5% in 2024, with a net margin of 8.5% [6] - The company’s return on equity (ROE) is expected to be 14.6% in 2024 [6] Business Development - The company is actively expanding its computing power service business, having secured several significant projects, including contracts with universities and telecom operators [3] - The company is improving its business structure by shifting its ICT business focus from integration to technology services, including network security and computing power services [4] - The high-speed rail informatization business is expected to benefit from increased investments in deep coverage by operators [4] - The company is also exploring integrated solutions combining edge computing and energy storage for future applications [4]
广脉科技：北交所信息更新：租赁业务算力赛道再加码，2024Q1-3归母净利润+35.39%