Jinggong Technology(002006) Guoyuan Securities·2025-05-21 04:41Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 17.95 yuan per share [6][11]. Core Insights - The company achieved a revenue of 1.729 billion yuan in 2024, representing a year-on-year increase of 12.25%. However, the net profit attributable to shareholders decreased by 18.53% to 147 million yuan [1]. - In Q1 2025, the company reported a revenue of 404 million yuan, a decline of 25.93% year-on-year, primarily due to decreased sales in carbon fiber and resource recycling equipment [1]. - The company has a diverse product matrix, with significant market shares in carbon fiber equipment (over 50%), polyester recycling equipment, building energy-saving devices (over 40%), and textile machinery (over 50%) [2]. Financial Performance Summary - The company is projected to achieve revenues of 2.052 billion yuan, 2.455 billion yuan, and 2.979 billion yuan for the years 2025, 2026, and 2027, respectively [3]. - The net profit attributable to shareholders is expected to be 225 million yuan in 2025, 278 million yuan in 2026, and 338 million yuan in 2027, with corresponding EPS of 0.43 yuan, 0.53 yuan, and 0.65 yuan [3]. - The company's PE ratios are projected to be 41.70, 33.74, and 27.76 for the years 2025, 2026, and 2027, respectively [3].