Fortune Trend(SH:688318)2026-01-09 07:59Investment Rating - The investment rating for the company is "Accumulate" with a target price of 181.08 CNY per share [6][12]. Core Insights - The report highlights that the current market is active, and the company's future performance is expected to improve due to its focus on AI-enabled product advancements, which enhances its market competitiveness [2]. - The company is a leading provider in the securities trading system software market, primarily serving domestic securities firms with core products such as market analysis systems and trading systems [12]. - The report forecasts the company's net profit attributable to shareholders for 2025-2027 to be 335 million, 357 million, and 385 million CNY, respectively, with corresponding EPS estimates of 1.31, 1.39, and 1.50 CNY [12]. Financial Summary - Total revenue is projected to be 435 million CNY in 2023, decreasing to 389 million CNY in 2024, and then increasing to 429 million CNY in 2025, 465 million CNY in 2026, and 505 million CNY in 2027, reflecting a growth rate of 35.2% in 2023 and a decline of 10.5% in 2024 [4]. - Net profit attributable to shareholders is expected to be 311 million CNY in 2023, slightly decreasing to 304 million CNY in 2024, and then increasing to 335 million CNY in 2025, 357 million CNY in 2026, and 385 million CNY in 2027, with a growth rate of 102.4% in 2023 [4]. - The company's return on equity (ROE) is projected to be 9.1% in 2023, decreasing to 8.4% in 2024, and then gradually increasing to 9.0% by 2027 [4]. Market Data - The company's market capitalization is approximately 36.377 billion CNY, with a total share count of 256 million shares [7]. - The stock price has ranged between 96.68 CNY and 180.13 CNY over the past 52 weeks [7]. Competitive Position - The company has a strong competitive position in the market, with its securities trading system being a core product and facing limited competition from firms like Tonghuashun and Dazhihui [12]. - The company has successfully integrated AI capabilities into its products, enhancing its offerings and adapting to the evolving market demands [12].