OKE(SH:688308) Huachuang Securities·2024-04-10 16:00Investment Rating - The report maintains a "Strong Buy" rating for the company [19] Core Views - The company's performance in 2023 was impacted by macroeconomic demand, but a recovery is expected in 2024. The production and sales of CNC blades decreased significantly in 2023, but with the manufacturing sector's recovery, sales are anticipated to improve in 2024 [19] - The company is focusing on enhancing its CNC blade production capacity and expanding its product offerings, which are expected to contribute positively to revenue in 2024 [19] - The company is advancing its integrated solutions model, which has shown positive progress, particularly in securing contracts for comprehensive tool solutions [19] - The overseas sales of the company's products have been growing significantly, with a compound annual growth rate (CAGR) of 32.73% from 2017 to 2023, indicating strong potential for future growth in international markets [19] Financial Summary - In 2023, the company achieved revenue of 1.026 billion, a decrease of 2.73% year-on-year, with a net profit of 166 million, down 31.43% [7][8] - Revenue projections for 2024-2026 are adjusted to 1.284 billion, 1.554 billion, and 1.887 billion respectively, with net profits of 225 million, 314 million, and 441 million [19] - The earnings per share (EPS) are forecasted to be 1.41, 1.98, and 2.78 for the years 2024, 2025, and 2026 respectively [19]