Workflow
建设工业(002265)主营业务保持稳定,“一核两翼”向新发展

Investment Rating - The report assigns an "Accumulate" rating to the company with a target price of 21.00, compared to the last closing price of 20.44 [1]. Core Insights - The company's main business remains stable, and it is advancing its "one core and two wings" development strategy [4][10]. - In 2024, the company achieved operating revenue of 4.355 billion, a year-on-year increase of 2.32%, while net profit attributable to shareholders was 260 million, a decrease of 10.70% [3][7]. - The company is focusing on technological innovation, with R&D investment increasing by 36.29% to 279 million in 2024, and it has made significant progress in various technology fields [5]. Summary by Sections Business Performance - The company is enhancing its weapon supply system and light weapon ecosystem, transitioning towards a new quality in its "three integrations" strategy [4]. - The automotive parts business is shifting from traditional to electric components, actively participating in the group's automotive ecosystem [4]. Financial Forecast - The projected net profits for 2025-2027 are 267 million, 269 million, and 273 million respectively, with corresponding EPS of 0.26 for each year [5][7]. - The expected PE ratios for the same period are 79, 78, and 77 [5][11]. R&D and Innovation - The company has filed 135 patent applications, including 79 invention patents, and has received several provincial and national awards for technological progress [5]. - As of the end of 2024, the company holds over 600 patents, including 188 valid invention patents [5].