Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook for its stock performance in the near future [6]. Core Insights - The company has demonstrated strong revenue growth driven by innovation, with a projected revenue increase from 8.43 billion yuan in 2023 to 15.90 billion yuan by 2026, reflecting a compound annual growth rate (CAGR) of approximately 24.22% [2][6]. - The net profit attributable to shareholders is expected to grow from 0.88 billion yuan in 2023 to 1.35 billion yuan in 2026, with a notable profit growth rate of 52.92% in 2023, followed by more moderate growth in subsequent years [2][6]. - The company is actively expanding its production capacity, increasing its investment in the "Sports Nutrition Food Production Base" from 126 million yuan to 309 million yuan, which will enhance its market position and supply capabilities [6][8]. Financial Forecast Summary - Revenue Forecast: - 2023: 8.43 billion yuan - 2024: 10.41 billion yuan (growth rate: 23.46%) - 2025: 12.80 billion yuan (growth rate: 22.96%) - 2026: 15.90 billion yuan (growth rate: 24.22%) [2][8] - Net Profit Forecast: - 2023: 0.88 billion yuan - 2024: 0.89 billion yuan (growth rate: 1.58%) - 2025: 1.11 billion yuan (growth rate: 23.61%) - 2026: 1.35 billion yuan (growth rate: 22.11%) [2][8] - Earnings Per Share (EPS): - 2023: 0.71 yuan - 2024: 0.72 yuan - 2025: 0.89 yuan - 2026: 1.09 yuan [2][8] - Price-to-Earnings (P/E) Ratio: - 2024: 25.37 - 2025: 20.53 - 2026: 16.81 [2][8]
康比特（833429）：快报点评：创新驱动营收增长，扩产展望业绩提升