BBJX(BJ:430489) KAIYUAN SECURITIES·2025-03-12 01:12Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company plans to further acquire a 7.5% stake in Yingtemei, aiming to consolidate its control and accelerate its layout in high-end electronic materials such as photoresists [3] - The company expects a revenue of 568 million yuan for 2024, representing a year-on-year growth of 5.88%, while the net profit attributable to the parent company is projected to decline by 38.68% to 12 million yuan [2][5] - The company is optimistic about its future growth potential due to the ongoing production of several new projects and the adjustment of sales strategies to enhance profitability [4] Financial Summary - Revenue for 2024 is estimated at 568 million yuan, with a year-on-year growth of 5.9% [5] - The net profit attributable to the parent company for 2024 is expected to be 12 million yuan, down from 20 million yuan in 2023, reflecting a decline of 38.6% [5] - The company’s earnings per share (EPS) for 2024 is projected to be 0.09 yuan, with a price-to-earnings (P/E) ratio of 276.0 times [5] - The company’s total market capitalization is 3.45 billion yuan, with a circulating market value of 2.166 billion yuan [2]