公司年报点评：2023年扣非后净利润同比增长90.15%，毛利率大幅修复

风险提示。项目建设进度不及预期、原材料及产品价格大幅波动、安全环保 风险、宏观经济下行 公司研究·双箭股份（002381）3 2023 net profit excluding non-recurring items (NPEx) grew by 90.15% YoY, with a significant recovery in gross profit margin (GPM). The Company reported 2023 revenue of RMB 2.59 billion, up 11.03% YoY, with a GPM of 20.75%, up 3.78 percentage points (pct), and net profit attributable to shareholders (NPAtS) of RMB 242 million, up 112.60% YoY. NPEx was RMB 231 million, up 90.15% YoY, with a net profit margin (NPM) of 8.93%, up 3.77 pct. The Compan ...