TSP(SZ:300129) EBSCN·2024-04-29 02:33Investment Rating - The report maintains a "Buy" rating for the company [4][17]. Core Views - The company has shown strong growth in its revenue and net profit, with a significant increase in operating income and a positive outlook for future performance [17]. - The company is focusing on expanding its "offshore wind + overseas" strategy, which is expected to drive growth and enhance profitability [17]. - The company aims to achieve a total production target of 800,000 tons in 2024, reflecting confidence in its growth potential [17]. Financial Performance - In 2023, the company achieved operating revenue of 4.813 billion yuan, a year-on-year increase of 53.93%, and a net profit of 292 million yuan, up 6.37% [17]. - The company's earnings per share (EPS) for 2024 is projected to be 0.59 yuan, with a corresponding price-to-earnings (P/E) ratio of 13 [10][17]. - The company’s net profit is expected to grow significantly in the coming years, with forecasts of 556 million yuan in 2024, 737 million yuan in 2025, and 910 million yuan in 2026 [17]. Market Position and Strategy - The company has successfully increased its market share in both domestic and international wind energy sectors, with a notable growth in offshore wind equipment sales [17]. - The company plans to enhance its production capacity for wind turbine towers and concrete towers, which will support its growth strategy in the domestic and international markets [17]. - The company has established a production base in Yangzhou for export products, which is expected to meet international customer demands [17].