Yonyou(SH:600588) SINOLINK SECURITIES·2025-03-30 10:23Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [5]. Core Insights - The company reported a revenue of 9.15 billion RMB for 2024, a decline of 6.6% year-on-year, and a net profit attributable to shareholders of -0.21 billion RMB, down 113.1% year-on-year [2]. - The company is embracing AI technology, with product innovations such as the YonGPT2 model and various AI-driven enterprise solutions, which are expected to accelerate in 2025 [3][4]. - The company has successfully expanded its overseas market, with a revenue growth of over 50% in international sales and the establishment of subsidiaries in multiple countries [4]. Financial Performance - The company forecasts revenues of 10.17 billion RMB, 11.39 billion RMB, and 12.79 billion RMB for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 11.16%, 11.92%, and 12.31% [5][10]. - The projected net profit for 2025 is -0.42 billion RMB, with a recovery expected in 2026 to 0.12 billion RMB and further growth to 0.43 billion RMB in 2027 [5][10]. - The company’s core product, BIP, has been successfully upgraded, leading to significant reductions in resource consumption and operational costs [4].