Jiangsu Kuangshun Photosensitivity New-Material Stock (SZ:300537) Capital Securities·2024-03-06 16:00Investment Rating - The investment rating for the company is "Buy" [2] Core Viewpoints - The company is gradually implementing its fundraising projects, leading to initial signs of revenue growth [4] - The company expects to achieve revenue of 500-550 million yuan in 2023, representing a year-on-year growth of 0.43%-10.47%, and a net profit of 6-9 million yuan, indicating a turnaround from losses [5] - The approval of the trial production plan for the project "Annual production of 50,000 tons of electronic photosensitive materials and supporting materials" is expected to enhance the company's profitability and product offerings [11] - The company anticipates significant revenue growth driven by its photovoltaic products and coatings for the new energy vehicle sector [5][12] Financial Summary - Revenue is projected to be 536 million yuan in 2023, 777 million yuan in 2024, and 1.029 billion yuan in 2025, with corresponding net profits of 7.5 million yuan, 89.7 million yuan, and 152.7 million yuan respectively [12] - The company's earnings per share (EPS) are expected to be 0.04 yuan in 2023, 0.46 yuan in 2024, and 0.79 yuan in 2025 [12] - The revenue growth rates are forecasted at 7.65% for 2023, 44.89% for 2024, and 32.55% for 2025 [7]