Investment Rating - The report maintains a "Buy" rating for the company [4][7]. Core Views - The company is expected to benefit from the rebound in storage prices, with a significant increase in performance anticipated for Q1 2024, driven by demand from emerging fields like artificial intelligence [6]. - The company is focusing on expanding its product line in the storage sector, which is expected to create new growth points for revenue [6]. Financial Performance Summary - The company forecasts Q1 2024 revenue between 800-850 million yuan, representing a year-on-year growth of 164.92%-181.48% [6][27]. - The expected net profit for Q1 2024 is projected to be between 186-226 million yuan, showing a year-on-year increase of 524.81%-616.17% [6][27]. - The company achieved revenues of 302 million, 289 million, 386 million, and 800 million yuan in Q1 to Q4 of 2023, respectively, with a net profit of -44 million, -36 million, -32 million, and 136 million yuan [6]. Revenue and Profit Forecast - The company is projected to achieve revenues of 3.547 billion, 4.682 billion, and 6.132 billion yuan for the years 2024, 2025, and 2026, respectively [7][17]. - The expected net profit for the same years is forecasted to be 850.08 million, 686.22 million, and 877.52 million yuan [7][17]. Market Position and Strategy - The company is expanding its product matrix by introducing high-end solid-state drives, embedded storage, and memory modules, which is expected to enhance its market position [6]. - The company aims to maintain its advantages in the mobile storage market while rapidly developing in the solid-state drive and embedded storage markets [6].
24Q1业绩高增，扩大产品线布局蓄势成长