QuantumCTek(SH:688027)2024-03-12 16:00Investment Rating - The report upgrades the investment rating to "Recommended" for the company [6]. Core Views - The company has signed a strategic cooperation agreement with China Telecom Quantum Information Technology Group, issuing 24.11 million shares at a price of 78.94 yuan per share, raising a total of 1.903 billion yuan for the development of quantum technology [6]. - With the support of national industrial policies, the quantum communication infrastructure is expected to continue advancing, and the company is positioned to lead domestic and international quantum communication standard development [6]. - The company aims for revenue forecasts of 156.11 million yuan, 256.12 million yuan, and 342.94 million yuan for 2023, 2024, and 2025 respectively, with corresponding PS ratios of 67.83, 41.34, and 30.88 [8]. Financial Summary - The company reported a revenue of 134.73 million yuan in 2022, with a projected growth rate of 15.87% in 2023, and a significant increase of 64.07% in 2024 [8]. - The net profit attributable to the parent company is expected to improve from a loss of 125.29 million yuan in 2023 to a profit of 30.46 million yuan in 2024, reflecting a profit growth rate of 124.31% [8]. - The gross margin is projected to increase from 51.70% in 2023 to 58.40% in 2025, indicating an improvement in profitability [8].