EASTMONEY(300059) 国元证券·2025-04-01 00:45Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [4][6]. Core Insights - The company achieved a total revenue of 11.604 billion yuan in 2024, representing a year-on-year growth of 4.72%. Investment income and fair value changes saw a significant increase, reaching 3.371 billion yuan, up 50.79% year-on-year. The net profit attributable to shareholders was 9.610 billion yuan, a 17.29% increase from the previous year [1][4]. - The company is focusing on providing comprehensive wealth management services, enhancing digital infrastructure, and expanding its service capabilities for retail, institutional, and corporate clients. The total trading volume for equity transactions reached 24.24 trillion yuan, with a steady increase in market share for brokerage services [2]. - The company is advancing its "AI + Finance" strategy by developing its proprietary "Miaoxiang" financial model, which has shown promising results in various technical fields. The model is being applied to enhance financial research processes and improve user experience in investment and trading [3]. Financial Performance Summary - The company forecasts revenues of 12.914 billion yuan, 13.875 billion yuan, and 14.635 billion yuan for 2025, 2026, and 2027, respectively. The net profit attributable to shareholders is projected to be 10.536 billion yuan, 11.382 billion yuan, and 12.448 billion yuan for the same years. The earnings per share (EPS) are expected to be 0.67 yuan, 0.72 yuan, and 0.79 yuan, with corresponding price-to-earnings (P/E) ratios of 34.46, 31.90, and 29.17 [4][7].