Hoperun Software(300339) 中邮证券·2024-03-14 16:00Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for the stock's performance relative to the market [7][10]. Core Insights - The company, as a core partner of Huawei's HarmonyOS, is expected to see significant growth, with a projected net profit increase of 50%-60% year-on-year for 2023, reaching between 158 million to 169 million yuan [3]. - The company is focusing on its core business while expanding into innovative sectors such as OpenHarmony, openEuler, and AI platforms, which have shown promising progress [3]. - Strategic partnerships have been established with companies like StarRing Technology and the Zhejiang Big Data Trading Center to enhance data asset compliance services and foster a secure data ecosystem [4]. - The upcoming Huawei China Partner Conference is anticipated to boost the industry chain's prosperity, supported by local government initiatives to develop the HarmonyOS application ecosystem [5]. - The company has launched various industry-specific software solutions based on OpenHarmony, targeting sectors such as finance, energy, smart cities, and healthcare [6][7]. Financial Projections - The company expects its earnings per share (EPS) to grow from 0.21 yuan in 2023 to 0.49 yuan in 2025, with corresponding price-to-earnings (P/E) ratios decreasing from 119.40 to 49.79 [7][8]. - Revenue is projected to increase from 3.369 billion yuan in 2023 to 4.871 billion yuan in 2025, reflecting a compound annual growth rate (CAGR) of approximately 19.77% [8][9]. - The net profit attributable to the parent company is forecasted to rise from 163.55 million yuan in 2023 to 392.19 million yuan in 2025, indicating a strong growth trajectory [8][9].