经营维持稳健，全球化加速推进

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming year [2][7]. Core Views - The company has demonstrated robust revenue growth, with 2023 revenue reaching 53.62 billion yuan, a year-on-year increase of 17.2%. The net profit attributable to shareholders was 2.096 billion yuan, up 24.8% year-on-year [3][4]. - The company is expanding its global market share, particularly in high-end television segments, with domestic sales growing by 18.2% and international sales by 20.5% in 2023 [1][3]. - The report highlights the company's strategic focus on product structure upgrades and new display technologies, which are expected to enhance profitability despite short-term margin pressures due to rising panel prices [1][3]. Financial Summary - Key financial metrics for 2023 include: - Revenue: 53.62 billion yuan, up 17.2% year-on-year - Net profit: 2.096 billion yuan, up 24.8% year-on-year - Gross margin: 16.9%, down 1.3 percentage points year-on-year - Earnings per share (EPS): 1.61 yuan [2][3][5]. - Forecasts for 2024-2026 project continued growth, with expected EPS of 1.85 yuan in 2024, 2.11 yuan in 2025, and 2.40 yuan in 2026, reflecting a compound annual growth rate in net profit of approximately 15.2% [2][3][5].