TRANSSION(688036)2024-02-26 16:00Investment Rating - The report maintains a "Buy" rating for the company, with an upward adjustment of profit forecasts for 2023-2025 [5][6]. Core Insights - The company achieved a revenue of approximately 623.92 billion yuan in 2023, representing a year-on-year increase of 33.90%, and a net profit of about 55.03 billion yuan, up 121.55% year-on-year [5][6]. - The company ranked 4th globally in smartphone shipments in Q4 2023, with a total shipment of 94.9 million units, marking a 30.8% increase year-on-year, while the global smartphone market saw a decline of 3.2% [5][6]. - The company is expanding its market presence beyond Africa, achieving significant growth in South Asia and other regions, with a market share of 37.9% in Pakistan and 21.5% in Bangladesh [6]. Financial Data and Profit Forecast - The company’s total revenue for 2023 is projected at 623.92 billion yuan, with a net profit forecast of 55.03 billion yuan, and an expected growth rate of 33.9% for 2024 [7][8]. - The report indicates a continuous increase in revenue for Q2, Q3, and Q4 of 2023, with respective revenues of 158 billion yuan, 180 billion yuan, and 194 billion yuan, showing year-on-year growth rates of 31%, 39%, and 83% [5][6]. - The weighted average ROE for 2023 is reported at 31.07% [5].