Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a revenue of 532 million yuan in Q3 2024, a decrease of 4.35% year-on-year, with a net profit attributable to the parent company of 99.93 million yuan, down 16.67% year-on-year. However, the non-net profit attributable to the parent company increased by 0.13% to 92.93 million yuan, indicating sustained growth [4] - The company has completed a share buyback worth 25.19 million yuan from October 27, 2023, to October 27, 2024, reflecting confidence in its long-term value [4] - The company is expanding its involvement in confidential business and digital services, having obtained a Class A qualification certificate for confidential information system integration, which is expected to positively impact its development [5] - The company is actively participating in the "Belt and Road" initiative, evidenced by its involvement in the construction of a light rail bridge in Kazakhstan, which is the first of its kind in Central Asia [5] - The company has established a strategic customer committee to enhance cooperation with state-owned enterprises, with over 80 partnerships formed among nearly 100 state-owned enterprises, in response to a projected investment of over 3 trillion yuan by central enterprises in equipment upgrades and industry development over the next five years [6] Financial Summary - The company's projected net profits for 2024, 2025, and 2026 are 223 million yuan, 258 million yuan, and 302 million yuan respectively, with corresponding EPS of 2.32 yuan, 2.68 yuan, and 3.14 yuan. The current stock price corresponds to P/E ratios of 16.0, 13.8, and 11.8 times for the respective years [4][6] - The company’s revenue is expected to grow from 1.043 billion yuan in 2024 to 1.346 billion yuan in 2026, with year-on-year growth rates of 11.2% and 13.9% respectively [7] - The gross margin is projected to remain stable around 45.1% to 45.4% from 2024 to 2026, while the net profit margin is expected to improve from 21.3% in 2024 to 22.4% in 2026 [7]
青矩技术：北交所信息更新：获涉密业务资质+加强与央企合作，2024Q1-3扣非归母净利润+0.13%