LIUSTEELCO(SH:601003) Guotai Junan Securities·2024-05-06 02:02Group 1 - Investment Rating: Maintain "Buy" rating with a target price of 3.43, down from the previous forecast of 5.28, current price at 2.93 [7][18] - Core Viewpoint: The company's profitability is gradually improving, having turned losses into profits, and is expected to enhance its profitability further as it continues to improve quality and efficiency [18][19] Group 2 - Revenue and Profit Forecast: For 2023, the company reported revenue of 796.65 million, a year-on-year decrease of 1.31%, and a net profit of -1.012 billion, a year-on-year increase of 56.78% [18][19] - Financial Performance: The company aims for a steel production target of 1,669 million tons in 2024, with a focus on enhancing production and sales scale [18][19] - Industry Demand Outlook: Despite a downturn in the real estate sector, which has been a major drag on steel demand, infrastructure and manufacturing sectors are expected to maintain steady growth, providing a counterbalance to the decline in real estate demand [18][19]