DIGIWIN(SZ:300378) Shenwan Hongyuan Securities·2025-06-21 13:56Investment Rating - The investment rating for the company is maintained as "Buy" [2] Core Insights - The company has launched the AI S-infra suite, which includes various AI solutions aimed at enhancing enterprise efficiency and driving growth [7] - The company is expected to achieve total revenue of 26.3 billion, 30.4 billion, and 36.1 billion for the years 2025, 2026, and 2027 respectively, with net profit projections of 2.1 billion, 2.5 billion, and 3.1 billion for the same years [7] - The company is positioned to benefit from the recovery in downstream market conditions, particularly in the manufacturing sector, which is expected to drive significant growth [7] Financial Data and Earnings Forecast - Total revenue is projected to grow from 2,331 million in 2024 to 3,606 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 18.5% [6][8] - The net profit is expected to increase from 156 million in 2024 to 312 million by 2027, indicating a strong growth trajectory [6][8] - The gross margin is forecasted to improve from 58.3% in 2024 to 62.5% by 2027, showcasing operational efficiency [6] Product and Market Development - The company has introduced a new generation of Agent construction platform, enabling users to create internal business processes and solutions through intuitive interfaces [7] - The launch of various AI-native "expert" Agents across multiple business functions is anticipated to enhance operational efficiency and uncover new growth opportunities [7] - The integration of AIoT capabilities with industrial AI solutions aims to optimize factory operations and improve responsiveness to anomalies [7]