CGT GROUP(000066) 民生证券·2024-05-02 02:00Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 9.78 yuan [2]. Core Insights - The company achieved a revenue of 13.42 billion yuan in 2023, with a net profit attributable to shareholders of -0.977 billion yuan. In Q1 2024, revenue reached 2.663 billion yuan, reflecting a year-on-year growth of 21.13% [1]. - The company is focusing on multiple product lines to enhance core competitiveness, including servers, personal terminal products, industrial control machines, printing equipment, and system equipment [1]. - The company is actively expanding into industry and international markets, establishing leadership groups for international and financial markets, and setting up overseas offices in regions like North America, the EU, Africa, and Southeast Asia [1]. - Despite short-term performance pressure due to market fluctuations, the company aims to strengthen its core business and improve profitability, with a projected recovery in performance [1]. Financial Forecasts - The projected revenues for 2024, 2025, and 2026 are 16.818 billion yuan, 20.224 billion yuan, and 24.339 billion yuan, respectively, with growth rates of 25.3%, 20.3%, and 20.4% [2][5]. - The net profit attributable to shareholders is expected to recover to 0.185 billion yuan in 2024, 0.309 billion yuan in 2025, and 0.459 billion yuan in 2026, with growth rates of 118.9%, 67.3%, and 48.2% respectively [2][5]. - The report forecasts a PE ratio of 171x for 2024, 102x for 2025, and 69x for 2026 [2][5].