Newtouch(SH:688590) Huaxin Securities·2025-06-30 02:21Investment Rating - The report maintains a "Buy" investment rating for the company [2][8] Core Insights - The insurance industry is experiencing rapid growth, with the company achieving a revenue of 728 million yuan in 2024, representing a year-on-year increase of 28.65%. The company focuses on enhancing product capabilities to improve customer loyalty and has established long-term partnerships with various insurance clients [4] - The company is expanding its data and intelligent computing center construction, generating revenue of 107 million yuan in 2024 from IT product sales and value-added services. Key clients include financial institutions and government agencies [5] - The innovative traffic business is growing rapidly, with revenue of 134 million yuan in 2024. The company is developing a financial ecosystem platform to help financial institutions enhance customer acquisition and operational efficiency [6] Financial Projections - The company forecasts revenues of 2.369 billion yuan, 2.814 billion yuan, and 3.325 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.37 yuan, 0.57 yuan, and 0.80 yuan. The current stock price corresponds to PE ratios of 55, 36, and 25 times for the respective years [8][10]