UNICOMP(SH:688531)2024-05-08 07:02Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market over the next six months [14][15]. Core Insights - The company reported a total revenue of 587 million yuan for 2023, representing a year-on-year growth of 21.2%. The net profit attributable to shareholders was 114 million yuan, up 59.3% year-on-year [14][15]. - For Q1 2024, the company achieved a revenue of 150 million yuan, with a year-on-year increase of 35.5%, and a net profit of 34 million yuan, reflecting a significant growth of 140.5% year-on-year [14][15]. - The gross profit margin improved to 45.8% in Q1 2024, an increase of 8.27 percentage points year-on-year, while the net profit margin reached 22.58%, up 9.86 percentage points year-on-year [6][14]. Financial Summary - The company's projected revenues for 2024, 2025, and 2026 are 799 million yuan, 1,095 million yuan, and 1,382 million yuan, respectively, with corresponding year-on-year growth rates of 36.1%, 37.0%, and 26.2% [2][16]. - The net profit forecasts for the same years are 170 million yuan, 241 million yuan, and 322 million yuan, with growth rates of 49.2%, 41.6%, and 33.5% respectively [2][15]. - The earnings per share (EPS) are projected to be 2.15 yuan, 3.04 yuan, and 4.06 yuan for 2024, 2025, and 2026 [2][16]. Product Performance - In 2023, the company sold 1,064 units of X-ray intelligent detection equipment, marking a year-on-year increase of 24.88%. Revenue from integrated circuit and electronic manufacturing equipment was 236 million yuan, with a gross margin of 45.71% [26]. - The company has seen significant growth in its casting and welding detection equipment, with revenue reaching 137 million yuan, a year-on-year increase of 82.79% [26]. Strategic Initiatives - The company has launched an employee stock incentive plan aimed at enhancing employee motivation, targeting core technical personnel and business backbones [20]. - The plan includes performance assessment requirements for revenue growth rates of no less than 30%, 60%, and 90% for the years 2024 to 2026, based on 2023 figures [20].