State Power Rixin Technology (301162) Guoyuan Securities·2025-04-18 03:23Investment 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 Viewpoints - The company achieved rapid growth in its performance, with a 20.50% year-on-year increase in revenue to 549.76 million yuan and an 11.09% increase in net profit attributable to shareholders, reaching 93.59 million yuan in 2024 [1][4]. - The company is a leading player in the renewable energy data development and application services sector, maintaining the largest service scale in power forecasting, with a total of 4,345 renewable energy plants served by the end of 2024 [2][3]. - The introduction of the "Four Available" requirements for distributed power stations by the National Energy Administration is expected to expand the market space for the company's power forecasting and control services [3]. Financial Performance Summary - In 2024, the company reported a revenue of 549.76 million yuan, a 20.50% increase from the previous year, and a net profit of 93.59 million yuan, reflecting an 11.09% growth [1][7]. - The forecast for revenue from 2025 to 2027 is projected to be 679.47 million yuan, 820.82 million yuan, and 976.33 million yuan, respectively, with net profits expected to reach 121.69 million yuan, 156.10 million yuan, and 192.15 million yuan [4][7]. - The company's earnings per share (EPS) are projected to grow from 1.21 yuan in 2025 to 1.92 yuan in 2027, with corresponding price-to-earnings (P/E) ratios decreasing from 52.36 to 33.16 over the same period [4][7].