Precise(SZ:300442) Tianfeng Securities·2024-03-05 16:00Investment Rating - The investment rating for the company is "Buy" with a 6-month outlook [1] Core Views - The company is focusing on enhancing its investment value through a "Quality Return Dual Improvement" action plan, which aims to strengthen its core competitiveness and improve corporate governance [2][3] - The company has shown strong growth momentum, with a projected net profit of 1.75-1.85 billion yuan for 2023, representing a year-on-year increase of 46.05%-54.39% [2] - The company has been actively expanding its intelligent computing infrastructure, establishing a comprehensive computing center that integrates data centers, intelligent computing centers, and supercomputing centers [2][4] Summary by Sections Investment Rating - The company maintains a "Buy" rating with a target price set to enhance investor confidence [1] Financial Performance - The company has achieved a net profit of 700 million yuan in the first half of 2023, with a total cash dividend of 670 million yuan distributed [3] - The projected revenue for 2023 is approximately 4.4 billion yuan, with a growth rate of 62% [10] Strategic Initiatives - The "Quality Return Dual Improvement" plan includes focusing on the intelligent computing industry, driving innovation, enhancing corporate governance, and ensuring stable shareholder returns [2][3] - The company has deployed computing modules in multiple locations, contributing to revenue since Q3 2023 [2] Market Position and Growth - The company has a robust growth trajectory, with a compound annual growth rate of 100.26%-103.08% over the past four years [2] - The company is expanding its liquid cooling technology and has launched the first fully liquid-cooled green computing center in the industry [5]