Newcapec(300248) 中邮证券·2025-02-24 06:49Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [2][16]. Core Insights - The company is a leader in the smart campus sector with a market share exceeding 40%, focusing on information technology solutions for educational institutions [5]. - The introduction of AI-driven services, such as the "Xiao Mei" AI assistant, enhances campus services by providing personalized support for various student and faculty needs [6][7]. - Collaboration with Huawei to advance AI applications in education is a significant strategic move, enhancing user experience and fostering innovation [8]. Company Overview - The latest closing price is 12.50 yuan, with a total market capitalization of 60 billion yuan and a circulating market value of 51 billion yuan [4]. - The company has a low debt-to-asset ratio of 18.0%, indicating strong financial health [4]. - The earnings per share (EPS) for 2024 is projected at 0.28 yuan, with a corresponding price-to-earnings (P/E) ratio of 44.73 [10][12]. Financial Projections - Revenue is expected to grow from 1,061 million yuan in 2023 to 1,512 million yuan by 2026, reflecting a compound annual growth rate (CAGR) of approximately 17.4% [12][15]. - The net profit attributable to the parent company is forecasted to increase from 107.51 million yuan in 2023 to 203.69 million yuan in 2026, with a growth rate of 22.59% in the final year [12][15]. - The company anticipates a steady improvement in its net profit margin, projected to reach 13.5% by 2026 [15].