Citic Press(300788) 银河证券·2025-03-19 02:10Investment Rating - The report maintains a "Recommended" rating for the company [2]. Core Insights - The company is advancing its digital intelligence strategy, significantly enhancing efficiency in content production and marketing through its proprietary "Kuafu AI" platform, achieving over 50% efficiency improvement [5]. - The company is deepening its IP operation strategy, creating a new cultural consumption ecosystem by linking top-tier IPs with physical publications and derivative products, thus expanding its market reach [5]. - The core publishing business remains stable, while digital and IP derivative businesses are expected to contribute to performance growth, supported by the application of AI technologies [5]. Financial Forecasts - Projected revenue for 2024 is 1,687.48 million yuan, with a slight decline of 1.72% year-on-year, followed by a recovery with expected growth rates of 3.72%, 5.18%, and 6.63% for 2025, 2026, and 2027 respectively [2]. - The net profit attributable to shareholders is forecasted to be 118.67 million yuan in 2024, with significant growth anticipated in subsequent years, reaching 165.08 million yuan in 2025 and 212.04 million yuan in 2027 [2]. - The gross profit margin is expected to improve from 38.96% in 2024 to 41.13% by 2027, indicating enhanced operational efficiency [2].