ZBOM(SH:603801)2024-03-11 16:00Investment Rating - The report maintains a "Buy" rating for the company [6][10]. Core Insights - The company announced its 2023 performance report, with revenue of 6.116 billion yuan, a year-on-year increase of 13.5%, and a net profit attributable to shareholders of 595 million yuan, up 10.9% year-on-year [6][10]. - The company achieved its revenue and profit targets, with expectations for the successful unlocking of related incentives in 2023 [6][10]. - The company is expanding its retail and engineering channels, with significant growth in Q4 2023, where revenue reached 2.188 billion yuan, a 16.9% increase year-on-year [6][10]. Financial Data and Profit Forecast - Total revenue for 2023 is projected at 6.116 billion yuan, with a year-on-year growth rate of 13.5% [7]. - The net profit for 2023 is estimated at 595 million yuan, with a growth rate of 10.9% [7]. - Earnings per share for 2023 is forecasted to be 1.36 yuan, with a projected PE ratio of 11 [7][11]. Company Overview - The company is focusing on expanding its product categories, including cabinets, wardrobes, and wooden doors, while enhancing its marketing and channel strategies [6][10]. - The company is actively pursuing a southern market strategy to establish a national brand presence, with plans to optimize production and delivery efficiency [6][10]. - The company is leveraging a dual-driven model of engineering and self-owned brands to capture overseas market opportunities [10].