Ultrapower(SZ:300002) East Money Securities·2024-04-23 08:00Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market index [7][11]. Core Insights - The company has demonstrated strong long-term operational capabilities, with its gaming business achieving a revenue of 4.497 billion yuan, reflecting a year-on-year growth of 26.51%. The company plans to launch two new games in overseas markets in H2 2024, which are expected to contribute to revenue growth [2][7]. - The software and information technology services segment has also shown continuous growth, with revenue reaching 1.465 billion yuan, a year-on-year increase of 17.08%. The company has been actively developing its digital technology base, evidenced by the filing of 90 patents and the authorization of 92 patents during the reporting period [2][7]. - The company reported a total revenue of 5.962 billion yuan for 2023, marking a year-on-year increase of 24.06%, and a net profit attributable to shareholders of 888 million yuan, up 63.84% year-on-year [2][7]. Financial Performance Summary - Revenue for 2023: 5.962 billion yuan, with a growth rate of 24.06% [8]. - Net profit for 2023: 888 million yuan, with a growth rate of 63.84% [8]. - Q4 2023 revenue: 1.911 billion yuan, with a year-on-year growth of 21.67% [2]. - Q4 2023 net profit: 324 million yuan, with a year-on-year growth of 104.55% [2]. - Forecasted revenue for 2024-2026: 7.064 billion yuan (2024), 8.074 billion yuan (2025), and 8.992 billion yuan (2026) [7][8]. - Forecasted net profit for 2024-2026: 1.048 billion yuan (2024), 1.216 billion yuan (2025), and 1.355 billion yuan (2026) [7][8].