Yonyou(SH:600588) SINOLINK SECURITIES·2025-03-30 09:17Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [5][13]. Core Insights - The company reported a revenue of 9.15 billion yuan for 2024, a decline of 6.6% year-on-year, and a net profit attributable to shareholders of -0.21 billion yuan, down 113.1% year-on-year [2]. - The company is embracing AI technology, launching innovative products such as the YonGPT2 model and integrating AI into its core products, which is expected to accelerate growth in 2025 [3][4]. - The company has successfully expanded its overseas market, with a revenue increase of over 50% from international operations and the establishment of subsidiaries in multiple countries [4]. Financial Performance Summary - Revenue for 2024 is projected at 9.15 billion yuan, with an expected growth of 11.16% in 2025, reaching 10.17 billion yuan [5][10]. - The net profit is forecasted to be -0.42 billion yuan in 2025, with a recovery to 0.12 billion yuan in 2026 and 0.43 billion yuan in 2027 [5][10]. - The company’s core product, BIP, has been upgraded to R5/R6 versions, achieving significant cost reductions in resource consumption and operational expenses [4].