BEYONDSOFT(002649) 中邮证券·2024-11-19 09:06Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company has shown stable revenue growth, with total revenue reaching 5.098 billion yuan in Q3 2024, a year-on-year increase of 4.64%. However, the net profit attributable to the parent company decreased by 20.39% to 178 million yuan [9] - The company is actively investing in new business areas, achieving initial success in new business expansion with a total of 230 million yuan in new contracts signed by the end of the first half of the year [9] - The company has successfully won multiple projects related to the HarmonyOS system, indicating its strong position in the industry and capability in developing native applications for the financial sector [10] - The company is expanding into emerging business fields such as digital agriculture and smart energy, aiming to build a second growth curve [11] - The earnings per share (EPS) forecasts for 2024, 2025, and 2026 are 0.39, 0.66, and 0.84 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 29.63, 17.70, and 13.91 [12] Financial Summary - The company's total revenue for 2023 is projected to be 6.601 billion yuan, with a growth rate of 1.89%. For 2024, the revenue is expected to increase to 7.177 billion yuan, reflecting a growth rate of 8.72% [14] - The net profit attributable to the parent company is forecasted to be 217.31 million yuan in 2023, with a significant decline of 29.73%, followed by a recovery to 229.78 million yuan in 2024 [14] - The company's asset-liability ratio stands at 25.3%, indicating a relatively low level of debt [5]