CNANO(688116) 东吴证券·2025-02-28 03:50Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q4 performance met expectations, with a revenue of 414 million yuan, a quarter-on-quarter increase of 18% and a year-on-year increase of 3.8% [8] - The demand for single-wall carbon tubes is expected to ramp up significantly starting Q2 2025, contributing notably to the company's performance [8] - The company has adjusted its profit forecasts for 2024 downwards due to increased industry competition, while raising the profit forecasts for 2025 and 2026 due to expected contributions from single-wall carbon tubes [8] Financial Summary - Total revenue for 2024 is projected at 1.449 billion yuan, with a year-on-year growth of 3.21% [8] - The net profit attributable to the parent company for 2024 is forecasted to be 253 million yuan, a decrease of 14.75% year-on-year [8] - The earnings per share (EPS) for 2024 is estimated at 0.73 yuan, with a price-to-earnings (P/E) ratio of 74.17 [8] - The company expects to achieve a net profit of 710 million yuan by 2026, reflecting a year-on-year growth of 47.59% [8]