QYDL(SZ:002039) Hua Yuan Zheng Quan·2025-07-18 08:37Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The major shareholder's increase in holdings demonstrates confidence and reaffirms the company's cash flow value [5] - The company has a significant cash flow potential, with an average annual distributable cash flow of 750 million RMB over the past five years, suggesting a reasonable market value exceeding 10 billion RMB under a 7% discount rate [7] - The company's short-term performance is influenced by rainfall, but the overall value remains stable due to consistent cash flow and debt repayment [7] Financial Summary - The company's market capitalization is approximately 7,037.61 million RMB [3] - The company's total assets are projected to be 15,563 million RMB in 2024, decreasing to 14,705 million RMB by 2027 [8] - The projected revenue for 2025 is 2,423 million RMB, with a year-on-year growth rate of 25.34% [6] - The projected net profit attributable to shareholders for 2025 is 413 million RMB, with a significant year-on-year growth rate of 89.41% [6] - The earnings per share (EPS) for 2025 is estimated at 0.97 RMB, with a price-to-earnings (P/E) ratio of 17.03 [6][8]