Jilin OLED(SH:688378) EBSCN·2024-04-26 02:02Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [2][4]. Core Views - The company is expected to benefit from the upward trend in the OLED industry, with continuous growth in demand for OLED materials. The revenue for OLED materials is projected to maintain high growth rates in Q1 2024 [2][5]. - The company has successfully introduced OLED materials to customers, with stable supply and ongoing projects that are expected to enhance revenue [1][5]. - The company is positioned as a leader in the domestic OLED organic materials and evaporation source equipment industry, which supports a favorable long-term growth outlook [2][4]. Summary by Sections Financial Performance - In Q1 2024, the company achieved revenue of 258 million yuan, a year-on-year increase of 6.99%, and a net profit attributable to shareholders of 95.01 million yuan, a slight increase of 0.22% [4]. - The revenue growth for OLED materials is expected to be between 97% and 112% year-on-year in Q1 2024, driven by increased penetration of OLED organic materials and growth in panel shipments despite the seasonal downturn [5]. Profit Forecast - The forecast for net profit attributable to shareholders for 2024, 2025, and 2026 is 204 million yuan, 329 million yuan, and 433 million yuan, respectively [2][3]. Market Position - The company has secured significant orders for OLED evaporation sources, including contracts with major manufacturers, which are expected to contribute to revenue growth [1][5]. - The increasing penetration of OLED technology in mid-size IT and automotive markets is anticipated to benefit the company as it is a leading provider of linear evaporation sources in China [1].