Investment Rating - The investment rating for the company is "Buy" [9][30]. Core Insights - The company achieved a revenue growth of 68% in 2023, with a total revenue of 1.017 billion yuan and a net profit of 272 million yuan, reflecting a 40.07% increase [2][29]. - The company has a strong order backlog, with new orders amounting to 1.36 billion yuan (including tax) in 2023, a year-on-year increase of 35.1%, and an order backlog of 1.586 billion yuan (excluding tax) at the end of 2023, up 18.9% year-on-year [3][36]. - The company is focusing on enhancing its self-developed technology transfer business, which generated 390 million yuan in revenue in 2023, a 77.7% increase, and accounted for 38.6% of total revenue [10][32]. Financial Forecast and Key Metrics - The company forecasts revenues of 1.375 billion yuan, 1.797 billion yuan, and 2.294 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 35%, 30%, and 28% [30]. - The projected net profits for the same years are 377 million yuan, 489 million yuan, and 647 million yuan, with growth rates of 39%, 30%, and 32% respectively [30]. - Key financial metrics include a PE ratio of 20, 15, and 12 for 2024, 2025, and 2026 respectively, and an ROE of 10.1%, 12.7%, and 14.8% for the same years [4][30].
2023年营收增长68%，新签订单快速增长