业绩稳健，重点关注2024信创大年对业务的拉动

Investment Rating - The investment rating for the company is "Buy" and it is maintained [6]. Core Views - The company reported a steady performance in 2023, with revenue reaching 7.281 billion yuan, a year-on-year increase of 11.98%. The net profit attributable to shareholders was 1.424 billion yuan, up 30.50% year-on-year [5]. - The company is expected to benefit from the 2024 "Xinchuang" year, which is anticipated to drive business growth [4][5]. - The company aims for steady revenue growth in 2024, with projected revenues of 8.026 billion yuan, 8.882 billion yuan, and 9.861 billion yuan for 2024, 2025, and 2026 respectively [9]. Financial Performance - In Q4 2023, the company achieved revenue of 2.914 billion yuan, a year-on-year increase of 5.36%, but the net profit attributable to shareholders decreased by 24.27% to 818 million yuan [5]. - The gross margin for 2023 was 74.84%, an increase of 1.28 percentage points year-on-year, indicating strong development quality [8]. - The company invested 2.661 billion yuan in R&D in 2023, maintaining a high R&D expense ratio of 36.55% [8]. Business Segments - The asset management technology service segment generated revenue of 1.712 billion yuan in 2023, up 9.27% year-on-year. The wealth technology service segment achieved revenue of 1.734 billion yuan, a 4.27% increase [9]. - The operating and institutional technology service segment reported revenue of 1.436 billion yuan, a year-on-year increase of 14.32% [9]. - The company has signed 53 new clients in the O45 project and completed 24 client projects, marking a positive start for future deliveries [9]. Future Outlook - The company is expected to maintain a stable financial structure and operating cash flow while improving operational efficiency [9]. - The projected net profit for 2024 is 1.725 billion yuan, with further increases to 1.962 billion yuan in 2025 and 2.127 billion yuan in 2026 [11].