JHCC(SZ:002484) Minsheng Securities·2024-03-12 16:00Investment Rating - The report maintains a "Recommended" rating for Jianghai Co., Ltd. (002484.SZ) [6] Core Views - Jianghai Co., Ltd. is set to benefit from the entry of Zhejiang State-owned Assets Investment Co., Ltd. as a controlling shareholder, which is expected to enhance the company's competitive edge through government resources and policy support [4] - The company is experiencing steady growth across multiple business segments, with significant advancements in technology and product offerings, particularly in MLPC and supercapacitors [4] - A share buyback plan has been approved, reflecting management's confidence in the company's future development [4] Financial Forecasts and Key Indicators - Projected revenues for 2023, 2024, and 2025 are 5,124 million, 6,180 million, and 7,408 million CNY respectively, with growth rates of 13.3%, 20.6%, and 19.9% [5][11] - Expected net profits attributable to shareholders for 2023, 2024, and 2025 are 745 million, 864 million, and 1,046 million CNY, with growth rates of 12.7%, 16.1%, and 20.9% [5][11] - Earnings per share (EPS) are projected to be 0.88, 1.02, and 1.23 CNY for the years 2023, 2024, and 2025 respectively [5][11] - The price-to-earnings (PE) ratios are forecasted to be 21, 18, and 15 for the years 2023, 2024, and 2025 respectively [5][11]