CH ENERGY ENG(601868) 国泰君安·2024-04-07 16:00Investment Rating - The investment rating for the company is "Buy" with a target price of 3.00, maintaining the previous rating of "Buy" [1]. Core Insights - The company reported a revenue of 406 billion yuan in 2023, an increase of 11% year-on-year, with a net profit of 8 billion yuan, reflecting a 2% growth [8]. - The company is focusing on the hydrogen energy sector, particularly in green hydrogen production, and has signed new contracts worth 1.28 trillion yuan, a 22% increase from the previous year [8]. - The company aims to achieve an EPS of 0.21 yuan in 2024 and 0.24 yuan in 2025, with a projected growth of 12% and 14% respectively [8]. Financial Summary - The total revenue for 2022 was 366.4 billion yuan, which increased to 406.0 billion yuan in 2023, with projections of 453.2 billion yuan for 2024 [5]. - The net profit for 2023 was 8 billion yuan, with an expected increase to 8.96 billion yuan in 2024 [5]. - The company's gross profit margin for 2023 was 12.64%, with a net profit margin of 1.97% [8]. Market Data - The company's market capitalization is approximately 90.89 billion yuan, with a total share capital of 41.69 billion shares [3][10]. - The stock price has fluctuated between 2.03 and 2.76 yuan over the past 52 weeks, currently standing at 2.18 yuan [3][10]. Order and Contract Data - The company secured new contracts totaling 1.28 trillion yuan in 2023, with a significant focus on renewable energy projects [8]. - The total order backlog reached 2.48 trillion yuan, marking a 36% increase year-on-year [8].