Absen(SZ:300389)2024-04-30 11:02Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the next six months [18][20]. Core Insights - The company is expected to achieve a significant increase in new orders, with a target of 8 billion yuan for the year, reflecting a year-on-year growth of approximately 51% [7][20]. - Despite a short-term profit pressure due to increased expenses, the company's revenue and profit growth are anticipated to accelerate in the future [18][20]. - The gross margin is expected to remain above 30%, indicating strong bargaining power within the supply chain [8][20]. Financial Summary - As of Q1 2024, the company reported a revenue of 864 million yuan, a year-on-year increase of 21.9%, while the net profit was 70.97 million yuan, down 10.3% compared to the previous year [10][18]. - The projected total revenue for 2024 is 6.023 billion yuan, with a year-on-year growth rate of 50.3%, and the net profit is expected to reach 469 million yuan, reflecting a growth of 48.5% [10][20]. - The company’s earnings per share (EPS) for 2024 is forecasted to be 1.29 yuan, with a dynamic price-to-earnings (P/E) ratio of 11 [10][20].