Luxi Chemical(000830) 申万宏源·2025-01-27 01:25Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Views - The company's performance meets expectations, with profitability remaining stable due to a combination of high market demand and declining costs [1][7] - The company is expected to achieve a net profit of 1.967 billion to 2.359 billion yuan in 2024, reflecting a year-on-year growth of 140.2% [7] - The report highlights ongoing project developments and a positive outlook for long-term growth, supported by new product launches and market demand [7] Financial Data and Profit Forecast - Total revenue is projected to increase from 25.358 billion yuan in 2023 to 31.512 billion yuan in 2025, with a compound annual growth rate (CAGR) of approximately 11.2% [5][8] - The net profit is forecasted to rise from 819 million yuan in 2023 to 2.359 billion yuan in 2025, indicating a significant recovery and growth trajectory [5][8] - The report anticipates a gross margin improvement from 13.4% in 2023 to 16.6% in 2025, reflecting better cost management and pricing power [5][8]