GLAVI(300900) 太平洋·2024-11-11 23:55Investment Rating - The report maintains a "Buy" rating for the company Guolian Aviation (300900) [1][4] Core Insights - The company reported a revenue of 663 million yuan for the first nine months of 2024, representing a year-on-year growth of 21.65%. However, the net profit attributable to shareholders decreased by 46.52% to 51 million yuan, with basic earnings per share dropping by 54.35% to 0.21 yuan [1][3] - The company has significantly increased its R&D investment, with R&D expenses rising by 24.26% compared to the previous year, focusing on the aerospace components sector and addressing core technology challenges in large-size fixed-wing drones [3][4] - A strategic cooperation agreement was signed with Shanghai Lingang New Area Aviation Industry Development Co., Ltd., aimed at enhancing the domestic large aircraft industry and meeting the growing product demand from downstream customers [4] Financial Summary - For the forecasted years 2024 to 2026, the company is expected to achieve net profits of 132 million yuan, 171 million yuan, and 211 million yuan respectively, with corresponding earnings per share (EPS) of 0.45 yuan, 0.58 yuan, and 0.71 yuan. The price-to-earnings (PE) ratios are projected to be 58x, 45x, and 36x [4][5] - The total revenue forecast for 2024 is 739.98 million yuan, increasing to 1,442.97 million yuan by 2026 [5][6]