DIGIWIN SOFTWARE(300378) 开源证券·2024-11-25 09:38Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3] Core Views - The company is a leading provider of digital transformation and smart manufacturing integration planning services in China, expected to benefit from downstream recovery and overseas opportunities, with AIGC opening up growth space [3][5] - The company maintains its profit forecast, expecting net profit attributable to shareholders to be 181 million, 226 million, and 285 million yuan for 2024-2026, with EPS of 0.67, 0.83, and 1.05 yuan per share, respectively [3][5] Financial Summary - Current stock price is 30.58 yuan, with a market capitalization of 8.299 billion yuan [3] - The company achieved a revenue of 735 million yuan in the first three quarters of 2024, a year-on-year increase of 11.33% [5] - AI business revenue grew by 102.08% year-on-year in the first three quarters of 2024 [5] - The company expects revenue to reach 2.583 billion yuan in 2024, with a year-on-year growth of 15.9% [7] - The projected P/E ratios for 2024, 2025, and 2026 are 45.8, 36.7, and 29.2 times, respectively [3][7] Business Developments - The company held a brand renewal conference on November 22, 2024, showcasing its new logo and brand proposition, focusing on "using data and intelligent technology to innovate productivity" [4] - The company has established benchmark cases in mainland China with clients like Geely Group and Shanghai Pharmaceuticals, and in Taiwan with AI server manufacturers [5] - New customer orders in Taiwan increased by 32% year-on-year, while revenue from Chinese enterprises going overseas grew by 58% [5]