Investment Rating - The report maintains a "Buy" rating for the company [13]. Core Views - The company's profitability continues to recover, with significant year-on-year growth in revenue and net profit [14]. - The packaging business is steadily developing, and there is optimism regarding the implementation of the photovoltaic new energy business [14][15]. - The company is expected to achieve rapid growth in the future due to its strategic layout in the photovoltaic sector and the ongoing improvement in demand for composite plastic packaging [15]. Financial Summary - In Q1 2024, the company achieved revenue of 269 million, a year-on-year increase of 20.76%, and a net profit of 28 million, up 305.52% year-on-year [14]. - The gross margin for Q1 2024 was 26.34%, an increase of 7.88 percentage points year-on-year [14]. - The company forecasts earnings per share (EPS) of 0.3, 0.41, and 0.61 yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 34X, 25X, and 17X [15][16].
Q1利润同比修复，包装&光伏成长空间广阔