Investment Rating - The report maintains a "Buy" investment rating for the company [2][14]. Core Views - The company achieved a revenue of 4.95 billion yuan in 2023, representing a year-on-year growth of 53%, with a net profit of 500 million yuan, up 88% year-on-year [14]. - For Q1 2024, the company reported a revenue of 1.03 billion yuan, a 46% increase year-on-year, and a net profit of 90 million yuan, which is a 104% increase year-on-year [14]. - The company is focusing on enhancing its core competitiveness in offshore renewable energy and advancing domestic production efforts [14]. - The company is actively participating in international markets and has established a dual-driven strategy for globalization [14]. Financial Forecasts - Revenue forecasts for 2024, 2025, and 2026 are 6.3 billion yuan, 7.96 billion yuan, and 9.78 billion yuan, respectively, with corresponding EPS of 2.12 yuan, 2.83 yuan, and 3.50 yuan [2][18]. - The projected P/E ratios for the next three years are 19, 14, and 11 times, respectively [2]. - The company’s gross margin for 2023 was 22.69%, an increase of 1.52 percentage points year-on-year, while the net margin reached 10.06%, up 1.86 percentage points year-on-year [14].
公司事件点评报告：一季度业绩超预期，盈利能力提升