YIZUMI(SZ:300415) Orient Securities·2025-06-02 02:26Investment Rating - The investment rating for the company is "Buy" with a target price of 25.6 CNY, maintaining the current rating [2][4]. Core Views - The company is experiencing robust growth in performance, driven by globalization and new product launches. The revenue for 2024 is projected to reach 5.063 billion CNY, reflecting a year-on-year increase of 23.6% [2][10]. - The company has successfully implemented a global strategy, with overseas revenue growing by 27.45% in 2024, accounting for 27.54% of total revenue [10]. - The injection molding machine sector is seeing a recovery, with revenue from this segment reaching 3.555 billion CNY, a year-on-year increase of 28.8% [10]. Financial Performance Summary - Revenue Forecast: - 2023: 4.096 billion CNY - 2024: 5.063 billion CNY (23.6% growth) - 2025: 5.847 billion CNY (15.5% growth) - 2026: 6.705 billion CNY (14.7% growth) - 2027: 7.741 billion CNY (15.4% growth) [6][12] - Net Profit Forecast: - 2023: 477 million CNY - 2024: 608 million CNY (27.4% growth) - 2025: 751 million CNY (23.6% growth) - 2026: 907 million CNY (20.7% growth) - 2027: 1.101 billion CNY (21.4% growth) [6][12] - Profitability Ratios: - Gross Margin: Expected to improve from 31.5% in 2023 to 33.2% in 2027 - Net Margin: Expected to increase from 11.6% in 2023 to 14.2% in 2027 [6][12]. - Earnings Per Share (EPS): - 2023: 1.02 CNY - 2024: 1.30 CNY - 2025: 1.60 CNY - 2026: 1.93 CNY - 2027: 2.35 CNY [6][12]. Market Performance - The company's stock price as of May 29, 2025, is 20.84 CNY, with a 52-week high of 28.91 CNY and a low of 16.28 CNY [2].