Investment Rating - The report maintains a "Recommended" rating for the company [3][4]. Core Insights - The company achieved a revenue of 17.581 billion yuan in 2023, with a net profit attributable to shareholders of 534 million yuan, and a net profit of 5.449 billion yuan in Q1 2024, showing a year-on-year growth of 29.65% [2][3]. - The company is focusing on a fully integrated development model for domestic software and hardware, launching several self-developed products and solutions in collaboration with leading enterprises [2][3]. - The company is actively pursuing digital innovation and strategic emerging industries, with a significant increase in contract liabilities by 136.38% compared to the beginning of the year, indicating a positive trend for business development in 2024 [3]. Financial Performance Summary - In 2023, the company reported total revenue of 17.581 billion yuan, a decrease of 8% year-on-year, while the net profit attributable to shareholders fell by 45.1% to 534 million yuan [4][8]. - Forecasts for 2024 to 2026 predict revenues of 30.766 billion yuan, 36.996 billion yuan, and 44.525 billion yuan respectively, with expected growth rates of 75%, 20.3%, and 20.4% [4][8]. - The projected net profit for 2024 is 770 million yuan, with a growth rate of 44.3%, and is expected to reach 1.417 billion yuan by 2026 [4][8].
2023年年报及2024年一季报点评：全面发力国产基础软硬件，布局长远潜力可期