Zoomlion(000157) 中国银河·2024-11-07 06:15Investment Rating - The report maintains a "Recommended" rating for the company [5] Core Views - The company's overall performance is stable with improved profitability, achieving a revenue of 34.386 billion yuan for the first three quarters of 2024, a year-on-year decrease of 3.18%, while the net profit attributable to shareholders reached 3.139 billion yuan, an increase of 9.95% year-on-year [1][3] - The company has seen rapid growth in overseas revenue, with foreign income reaching 17.644 billion yuan, a year-on-year increase of 35.42%, and overseas revenue accounting for 51.31% of total revenue, up 14.62 percentage points from the same period last year [2] - The company is expanding its new business segments, particularly in agricultural machinery and mining machinery, with significant market share gains in key domestic agricultural regions [2] Financial Performance Summary - For the first three quarters of 2024, the company achieved a gross profit margin of 28.37%, an increase of 0.62 percentage points year-on-year, with the third quarter gross profit margin at 28.52% [1] - The company’s net profit for the third quarter was 0.851 billion yuan, a year-on-year increase of 4.42%, with a net profit margin of 8.64%, up 1.51 percentage points year-on-year [1] - The company’s financial forecasts indicate a projected net profit of 3.93 billion yuan for 2024, with a PE ratio of 15.9 [4][3]