LZJT(SZ:300428) Tebon Securities·2024-04-28 01:30Investment Rating - The report maintains a "Buy" rating for the company [19][24]. Core Views - The company is expected to experience rapid revenue growth driven by its aluminum alloy casting and wheel segments, with projected revenues of 28.68 billion, 34.63 billion, and 41.84 billion for 2024, 2025, and 2026 respectively [19][21]. - The net profit for the company is forecasted to reach 938 million, 1.14 billion, and 1.32 billion for the same years, indicating a strong growth trajectory [19][21]. - The company has secured multiple fixed-point projects that will gradually release sales, with total expected sales of approximately 19.4 billion from one project alone [22]. Financial Data Summary - Stock Data: Total shares outstanding are 626.02 million, with a market capitalization of 12,313.81 million [1]. - Revenue and Profit Forecast: The company’s revenue is projected to grow from 23.37 billion in 2023 to 41.84 billion by 2026, with a net profit increase from 606 million to 1.32 billion over the same period [1][19]. - Earnings Per Share (EPS): The EPS is expected to rise from 0.97 in 2023 to 2.12 by 2026 [2][19]. - Profitability Metrics: The gross margin is forecasted to be around 10.5% to 10.9% from 2023 to 2026, while the net profit margin is expected to improve from 2.6% to 3.4% [2][19]. - Valuation Ratios: The P/E ratio is projected to decrease from 21.77 in 2023 to 9.30 by 2026, indicating an attractive valuation as earnings grow [2][19].