SCC(002916) 中国银河·2025-03-16 03:19Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is projected to experience significant revenue growth, with expected revenues of 17,907.45 million in 2024, increasing to 29,835.03 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 21.34% from 2025 to 2027 [5][7] - Net profit is forecasted to grow from 1,877.57 million in 2024 to 3,232.48 million in 2027, indicating a strong profit growth trajectory [5][7] - The gross margin is expected to improve slightly from 24.83% in 2024 to 26.13% in 2027, suggesting enhanced operational efficiency [5][7] Financial Summary Income Statement - Revenue is projected to grow from 17,907.45 million in 2024 to 29,835.03 million in 2027, with a revenue growth rate of 32.39% in 2024, tapering to 12.17% by 2027 [5][7] - Operating profit is expected to increase from 2,028.25 million in 2024 to 3,499.67 million in 2027, with a notable operating profit margin improvement [7] - Net profit attributable to the parent company is forecasted to rise from 1,877.57 million in 2024 to 3,232.48 million in 2027, with a net profit margin of approximately 10.83% by 2027 [7] Balance Sheet - Total assets are projected to grow from 25,302.25 million in 2024 to 38,458.48 million in 2027, indicating a robust asset base expansion [6] - The company's equity attributable to shareholders is expected to increase from 14,617.02 million in 2024 to 23,055.74 million in 2027, reflecting strong retained earnings and capital growth [6] Cash Flow Statement - Operating cash flow is anticipated to rise from 2,982.22 million in 2024 to 4,560.58 million in 2027, indicating improved cash generation capabilities [6] - The net increase in cash is projected to be 700.63 million in 2024, growing significantly to 4,424.20 million by 2027, showcasing strong liquidity management [6]