Beijing (SZ:300803) Tai Ping Yang·2025-03-12 03:35Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on the last closing price of 89.87 [1][6]. Core Insights - The company has experienced a significant turnaround in performance due to a recovering market, with a reported revenue of 1.529 billion yuan for 2024, representing a year-on-year increase of 37.37%, and a net profit of 104.2 million yuan, up 43.50% year-on-year [3][4]. - The company's capital market business is rapidly growing, which is expected to enhance its wealth management capabilities [6][9]. - The "one body, two wings" business model has been successfully implemented, integrating financial information services with securities and public fund services, which is anticipated to strengthen comprehensive wealth management [5][6]. Financial Performance Summary - For 2024, the company achieved a revenue of 1.529 billion yuan, with a growth rate of 37.37%, and a net profit of 104.2 million yuan, reflecting a growth rate of 43.50% [3][9]. - The forecast for 2025-2027 indicates revenues of 1.956 billion, 2.391 billion, and 2.827 billion yuan, respectively, with corresponding net profits of 224.26 million, 347.82 million, and 480.52 million yuan [6][9]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.54, 0.84, and 1.16 yuan, respectively, with price-to-earnings (PE) ratios of 165.34, 106.61, and 77.16 [6][9].