IRAY TECHNOLOGY(SH:688301)2024-04-30 08:30Investment Rating - The report maintains a "Buy" rating for the company [1][4] Core Views - The company achieved a revenue of RMB 491 million in Q1 2024, representing a year-on-year growth of 11.48%, while the net profit attributable to shareholders was RMB 139 million, up 1.88% year-on-year [4] - The company is focusing on high-end manufacturing capabilities and has mastered core technologies in X-ray flat panel detectors [4] - A directed share issuance plan has been announced to raise up to RMB 1.45 billion for the construction of X-ray vacuum devices and comprehensive solutions [4] Financial Summary - The company’s revenue is projected to grow from RMB 1,864 million in 2023 to RMB 2,303 million in 2024, reflecting a growth rate of 23.6% [5][7] - The net profit is expected to increase from RMB 607 million in 2023 to RMB 834 million in 2024, with a growth rate of 37.3% [5][7] - The projected EPS for 2024 is RMB 8.18, with corresponding P/E ratios of 25.3 for 2024, 20.4 for 2025, and 16.4 for 2026 [4][5][7]