Investment Rating - The report maintains a "Buy" rating for the company, predicting a price increase of over 15% in the next 6-12 months [10]. Core Insights - The company reported a revenue of HKD 2.031 billion for Q1 2024, representing a year-on-year increase of 17.8%, and an operating profit of HKD 432 million, up 30.8% year-on-year [4]. - The growth in revenue is primarily driven by the curtain wall business, with significant contributions from various segments including HK and Macau curtain walls, mainland curtain walls, and non-core businesses [4]. - The company is focusing on its established strategy, with new contract signings totaling HKD 3.697 billion in Q1 2024, a 4.9% increase year-on-year [4]. - The company is expanding its BIPV (Building Integrated Photovoltaics) applications, which are expected to become a new growth point during the 14th Five-Year Plan (2026-2030) [4]. Financial Performance Summary - Revenue for 2024 is projected to be HKD 10.375 billion, with a growth rate of 19.73% [8]. - The net profit attributable to shareholders is forecasted to be HKD 788 million in 2024, reflecting a growth rate of 35.68% [8]. - The company’s P/E ratios for 2024, 2025, and 2026 are estimated at 6.9, 5.3, and 4.1 respectively, indicating strong earnings potential [8].
营收利润维持高增，坚持既定战略布局