JINHONG GAS(688106) 太平洋·2024-04-29 02:30Investment Rating - The report maintains a "Buy" rating for the company, with expectations of significant growth in the next few years [14][16]. Core Views - The company is actively expanding its specialty gas category and enhancing its electronic bulk gas service capabilities, aiming to become a comprehensive gas service provider [22][16]. - The company is focusing on the localization of specialty gases and continuously launching new products while actively onboarding clients. As ongoing projects progress, the company anticipates a steady increase in performance [16][29]. - The projected net profits for 2024-2026 are estimated at 398 million, 502 million, and 621 million respectively, with corresponding PE ratios of 23x, 18x, and 15x [16][24]. Financial Summary - Revenue for 2023 is projected at 2,427 million, with a growth rate of 23.40%. The net profit for the same year is expected to be 315 million, reflecting a growth rate of 37.48% [24][29]. - The company’s revenue is expected to grow to 2,907 million in 2024, with a net profit of 398 million, and further increase to 3,543 million and 4,266 million in 2025 and 2026 respectively [24][29]. - The diluted earnings per share (EPS) are forecasted to be 0.65, 0.82, 1.03, and 1.28 for the years 2023 to 2026 [24][29].