Workflow
2023年年报点评:业务量短暂下滑,着力增强研发实力

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 15% in the next six months [11][12]. Core Insights - In 2023, the company reported a revenue of 726 million yuan, a decrease of 23.85% year-on-year, and a net profit attributable to shareholders of 102 million yuan, down 34.66% from the previous year [11][12]. - The company has focused on enhancing its research and development capabilities, with R&D expenses amounting to 140.35 million yuan, representing 19.34% of total revenue [2]. - The company successfully completed its initial public offering (IPO) in 2023, raising funds that contributed to a significant increase in net assets [11]. Financial Performance Summary - Total revenue for 2023 was 726 million yuan, with a year-on-year decline of 23.85% [11]. - Net profit attributable to shareholders was 102 million yuan, reflecting a 34.66% decrease compared to the previous year [11]. - The company’s earnings per share (EPS) for 2023 was 0.30 yuan, with projected EPS of 0.37 yuan for 2024 and 0.45 yuan for 2025 [11][12]. - The price-to-earnings (P/E) ratio for 2023 was 64.19, with projections of 52.18 for 2024 and 43.54 for 2025 [11][12]. Research and Development Focus - The company has established a strong R&D team, with 361 personnel, accounting for 43.03% of total employees [2]. - It has obtained a total of 48 invention patents and 81 utility model patents, emphasizing its commitment to innovation [2]. - The company collaborates with universities to enhance its technological capabilities and innovation [2].