Anji Technology(SH:688019) Shenwan Hongyuan Securities·2026-01-30 02:22Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market [6]. Core Insights - The company has shown steady growth in CMP polishing liquid market share and rapid expansion in functional wet chemicals, leading to significant annual performance growth [6]. - The semiconductor industry is experiencing a boom, with increased demand for upstream materials, benefiting the company's product lines [6]. - The company is positioned as a leading supplier of CMP polishing liquids in China, with a second growth curve in functional wet electronic chemicals and electroplating liquids [6]. Financial Data and Profit Forecast - Total revenue is projected to grow from 1,238 million in 2023 to 3,771 million by 2027, reflecting a compound annual growth rate (CAGR) of approximately 48.2% [5][7]. - The net profit attributable to the parent company is expected to increase from 403 million in 2023 to 1,274 million by 2027, with a CAGR of around 32.5% [5][7]. - The earnings per share (EPS) is forecasted to rise from 4.14 in 2024 to 7.54 in 2027, indicating strong profitability growth [5][7]. - The company's gross margin is expected to remain stable, with slight improvements from 56.8% in 2025 to 57.3% in 2027 [5][7].