TALKWEB(SZ:002261) Minsheng Securities·2024-04-28 00:32Investment Rating - The report maintains a "Recommended" rating for the company [2][6]. Core Views - The company has embraced Huawei's AI hardware and software layout, opening up long-term growth opportunities. In 2023, the company achieved operating revenue of 3.154 billion yuan, a year-on-year increase of 41.02%, and a net profit attributable to shareholders of 45 million yuan, up 104.44% [1][2]. - The company is a key partner of Huawei in the AI hardware sector, launching various intelligent computing products and participating in national-level AI innovation center projects [1][2]. - The company has developed AI applications across multiple industries, including transportation, examination, telecommunications, and manufacturing, establishing industry benchmarks [1][2]. Financial Performance Summary - In 2023, the company reported operating revenue of 3.154 billion yuan, with a growth rate of 41.02%. The net profit attributable to shareholders was 45 million yuan, reflecting a growth rate of 104.44% [1][2]. - For 2024, the company is projected to achieve operating revenue of 3.953 billion yuan, with a growth rate of 25.3%, and a net profit of 89 million yuan, with a growth rate of 97.8% [2][6]. - The earnings per share (EPS) for 2024 is expected to be 0.07 yuan, with a price-to-earnings (PE) ratio of 194 [2][6]. Industry Positioning - The company is positioned as one of the best beneficiaries of Huawei's AI computing capabilities, actively collaborating in both hardware and software sectors to create new growth momentum [1][2]. - The company has a rich resource base in various industries, enhancing Huawei's AI capabilities across multiple scenarios, particularly in transportation and manufacturing [1][2].