Investment Rating - The report maintains a "Buy" rating for the company [6][18]. Core Views - The company achieved a revenue of 5.244 billion, a year-on-year increase of 31.78%, while the net profit attributable to the parent company was 212 million, a slight decrease of 0.8% [1][5]. - The company plans to distribute a cash dividend of 116 million, with a payout ratio of 54.65% [1]. - The semiconductor industry is experiencing high demand, with significant revenue growth in various sectors, including a 29% increase in semiconductor and related fields [2][3]. - The company signed new orders worth 5.418 billion, a year-on-year increase of 9.45%, with a strong focus on the semiconductor sector [3]. - The overall cash flow remains strong, with a net operating cash inflow of 215 million, reflecting a stable financial position [4]. Financial Summary - Revenue is projected to grow from 3.98 billion in 2023 to 8.82 billion by 2027, with a compound annual growth rate (CAGR) of 17.33% [5][12]. - The net profit attributable to the parent company is expected to increase from 213 million in 2023 to 346 million by 2027, with a CAGR of 15.57% [5][12]. - The company's EBITDA is forecasted to rise from 384 million in 2023 to 568 million by 2027 [5][12]. - The price-to-earnings (P/E) ratio is projected to decrease from 26.61 in 2023 to 16.46 by 2027, indicating potential valuation improvement [5][12].
柏诚股份（601133）：收入实现较快增长，在手订单充足下游景气高增