SFC(SH:601595) Soochow Securities·2024-04-28 10:00Investment Rating - The investment rating for the company is "Buy" (maintained) [3][4] Core Views - The company reported a revenue growth of 85.1% in 2023, reaching 795.23 million yuan, with a net profit of 126.98 million yuan, marking a turnaround from a loss of 328.20 million yuan in 2022 [21] - The company plans to distribute a significant cash dividend of 1.14 yuan per share, totaling 51.09 million yuan, which represents 40.2% of the net profit attributable to shareholders [21] - The company is actively developing its IP business, with a clear pipeline for animated films and series, and has initiated an "IP cinema cooperation plan" to enhance its business model [21] Financial Forecasts and Valuation - The company's total revenue is projected to grow to 1,114.21 million yuan in 2024, with a net profit of 255.59 million yuan [5] - The earnings per share (EPS) are expected to be 0.28 yuan in 2023, increasing to 1.19 yuan by 2026 [5] - The current stock price corresponds to a price-to-earnings (P/E) ratio of 53 for 2024, 33 for 2025, and 26 for 2026 [21]