Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [4]. Core Views - The company is expected to achieve a net profit of 260 million to 280 million yuan in 2024, representing a year-on-year growth of 36.1% to 46.6%, with revenues projected at 2.31 billion yuan, a 17.3% increase [1]. - The business model has been validated, with a significant increase in order amounts, projected at approximately 3.51 billion yuan for 2024, marking a 49.4% year-on-year growth [2]. - The integration of AI capabilities is expected to enhance user engagement and operational efficiency, leading to higher profit elasticity [2][3]. Summary by Sections Performance Review - The company launched the "Jiufang Lingxi" financial dialogue intelligent agent, enhancing its decision-making and user interaction capabilities [1]. - Positive profit forecasts for 2024 indicate strong growth potential [1]. Operational Analysis - The company anticipates a high revenue increase in 2025, supported by a robust order backlog and improved market conditions [2]. - AI tools are expected to enhance service delivery without a proportional increase in costs [2]. AI Functionality Upgrade - The "Jiufang Lingxi" intelligent agent will provide advanced investment advisory services, leveraging real-time financial data [3]. - Continuous development of AI models aims to improve various operational areas, including customer service and compliance [3]. Profit Forecast, Valuation, and Rating - Revenue forecasts for 2024-2026 have been adjusted to 2.31 billion, 3.44 billion, and 4.06 billion yuan, with corresponding net profit estimates of 274 million, 927 million, and 1.21 billion yuan [4]. - The projected P/E ratios for the next three years are 46.49, 13.73, and 10.56, reflecting a favorable valuation outlook [4].
九方智投控股：AI赋能平台建设，全年业绩增长可期-20250221