Eazytec(688258) 民生证券·2025-03-23 12:43Investment Rating - The report maintains a "Recommended" rating for the company [3][5]. Core Viewpoints - The strategic partnership with DCloud aims to establish the company as a leader in AI programming software, leveraging DCloud's extensive user base of 9 million front-end developers and over 1 billion monthly active users on mobile engines [1]. - The SnapDevelop tool, developed by the company's subsidiary, is positioned to support DCloud's software ecosystem, enhancing its market penetration and application among developers [2]. - The company has built an independent sales network with over 3,000 clients, including Fortune 500 companies, and its products are primarily used in finance, healthcare, government, and software industries [3]. Financial Forecast and Metrics - Projected revenues for 2023 to 2026 are as follows: 320 million in 2023, 323 million in 2024, 377 million in 2025, and 430 million in 2026, with growth rates of 13.5%, 0.9%, 16.7%, and 14.2% respectively [4][10]. - Expected net profit attributable to shareholders is forecasted to be 56 million in 2023, 32 million in 2024, 75 million in 2025, and 102 million in 2026, with growth rates of 10.1%, -43.2%, 134.8%, and 36.1% respectively [4][10]. - The price-to-earnings (PE) ratios are projected to be 92 in 2023, 162 in 2024, 69 in 2025, and 51 in 2026 [4][10].