Investment Rating - The investment rating for the company is "Buy" (maintained) [2][4] Core Views - The company is expected to achieve a revenue of 960 million yuan in 2024, representing a growth of 2.29%. The net profit attributable to the parent company is projected to be 183 million yuan, a decrease of 9.33%, while the net profit after deducting non-recurring gains and losses is expected to grow by 3.03% to 177 million yuan [4] - The company has received an AAA credit rating from the China Engineering Consulting Association, indicating strong recognition of its capabilities in the engineering consulting field. This is expected to enhance its comprehensive service offerings [5] - The company is well-positioned to benefit from the local government debt replacement policy, which allows for the replacement of up to 60 billion yuan of hidden debts, providing more opportunities in investment and financing consulting [5] Financial Summary - The total revenue for 2022 was 828 million yuan, with a year-on-year growth of 3.0%. In 2023, revenue increased to 938 million yuan, a growth of 13.4%. The forecast for 2024 is 960 million yuan, with a modest growth of 2.3%, followed by a significant increase to 1.192 billion yuan in 2025 (24.1% growth) and 1.352 billion yuan in 2026 (13.5% growth) [6][11] - The net profit attributable to the parent company for 2022 was 161 million yuan, increasing to 202 million yuan in 2023 (25.4% growth). The forecast for 2024 is 183 million yuan, a decrease of 9.3%, with a recovery expected in 2025 to 258 million yuan (40.9% growth) and 302 million yuan in 2026 (17.0% growth) [6][11] - The company's earnings per share (EPS) are projected to be 1.91 yuan in 2024, 2.69 yuan in 2025, and 3.14 yuan in 2026, with corresponding price-to-earnings (P/E) ratios of 19.8, 14.0, and 12.0 respectively [4][6]
青矩技术：北交所信息更新：化债提供未来新机遇&全咨业务加速发展，2024年度营收+2.29%-20250228