Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's 2024 performance is expected to be strong, with revenue projected at 4.674 billion yuan, a year-on-year increase of 19.66%, and net profit expected to reach 700.34 million yuan, up 25.48% year-on-year [8] - The growth in button sales is outpacing zipper sales, with overseas market growth surpassing domestic growth, and significant price increases for products [8] - The gross profit margin is expected to improve, with a net profit margin increase to 14.98% in 2024 [8] - The company is focusing on internationalization and smart manufacturing strategies for sustainable long-term growth [8] Financial Summary - Total revenue for 2023 was 3.907 billion yuan, with a projected increase to 4.674 billion yuan in 2024 [1] - The net profit for 2023 was 558.11 million yuan, expected to rise to 700.34 million yuan in 2024 [1] - Earnings per share (EPS) is projected to increase from 0.48 yuan in 2023 to 0.60 yuan in 2024 [1] - The company anticipates a revenue target of 5 billion yuan and a net profit target of 750 million yuan for 2025 [8] - The gross profit margin for 2024 is projected at 41.73%, with a slight increase in subsequent years [9]
伟星股份(002003):2024年报点评:24年业绩如期亮丽,看好长期可持续增长