Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company achieved a revenue growth of 27.05% in 2023, reaching 440 million yuan, with a net profit of 55.15 million yuan and a gross margin increase of 1.17 percentage points to 42.91% [5] - The growth in 2023 was driven by multiple business initiatives, including a stable presence in the Shanxi market and active expansion into Anhui, Henan, and Xinjiang, alongside accelerated growth in the integrated new energy charging and swapping management system [5] - The company is expected to continue its growth trajectory, with projected net profits for 2024-2026 of 71 million, 89 million, and 114 million yuan respectively, corresponding to EPS of 0.92, 1.16, and 1.47 yuan per share [5] Financial Performance Summary - In Q1 2024, the company reported a revenue of 74 million yuan (+19%) and a net profit of 6.41 million yuan (+21%), continuing the growth trend [5] - The revenue from the mining data monitoring and automatic control system increased by 9% to 304 million yuan in 2023, while the revenue from municipal equipment remote monitoring and control systems surged by 77%, with a gross margin of 86% [6] - The charging station business saw a remarkable revenue increase of 806.02% to 45.65 million yuan in 2023, with a gross margin of 39.69% [7] Business Development and Strategy - The company is focusing on a strategic direction centered on smart mining, supported by smart municipal services and "Internet of Things+" initiatives, with multiple business lines contributing to growth [6] - The M-CPS smart mining and other R&D projects are progressing well, with several projects ready for practical application [6] - The company aims to establish a nationwide heavy-duty truck battery swapping network within 3-5 years, leveraging its early investments in charging infrastructure [7]
布局取得成效维持收入高增，AI赋能智慧矿山+充换电业务驱动长期增量北交所信息更新