WEIMING(SH:603568) Changjiang Securities·2024-04-30 05:32Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company achieved a revenue of 2.008 billion yuan in Q1 2024, representing a year-on-year growth of 50.11%, and a net profit attributable to shareholders of 712 million yuan, up 40.29% year-on-year [6][7] - The performance in Q1 2024 was driven by strong orders in environmental protection and new materials equipment, with new orders totaling approximately 701 million yuan [7] - The company has successfully launched new waste incineration projects, contributing to stable growth in waste processing volume [7] Summary by Sections Financial Performance - In Q1 2024, the company reported a net profit of 712 million yuan, with a year-on-year increase of 40.29% [6] - The operating cash flow for Q1 2024 was 497 million yuan, reflecting a year-on-year increase of 32.01% [7] Business Development - The company added new environmental and new materials equipment orders amounting to 701 million yuan in Q1 2024, with significant contributions from key clients [7] - The company has expanded its operations in Indonesia and is actively developing integrated lithium battery material production capacity in China [8] Future Outlook - The company is expected to see continued growth in its waste incineration projects and new energy materials business, with projected net profits of 2.99 billion yuan and 3.73 billion yuan for 2024 and 2025, respectively [8]