SYNERGY(SZ:300636) Huachuang Securities·2024-05-08 23:32Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 12.8 yuan, reflecting a potential upside of over 20% compared to the benchmark index in the next six months [36][39]. Core Insights - The company reported a revenue of 722 million yuan in 2023, a slight increase of 0.31% year-on-year, with a net profit attributable to shareholders of 106 million yuan, up by 5.28% [35]. - In Q1 2024, the company achieved a revenue of 206 million yuan, a decrease of 6.47% compared to the previous quarter, but a significant increase of 31.42% in net profit attributable to shareholders [35][39]. - The company is expected to benefit from new production capacity coming online in June 2024, which will support the launch of new raw material drug products [35][39]. Financial Summary - The company’s total revenue is projected to grow from 722 million yuan in 2023 to 940 million yuan in 2024, representing a growth rate of 30.2% [37]. - Net profit is expected to increase from 106 million yuan in 2023 to 185 million yuan in 2024, reflecting a growth rate of 74.7% [37]. - Earnings per share (EPS) is forecasted to rise from 0.25 yuan in 2023 to 0.44 yuan in 2024, with a corresponding price-to-earnings (P/E) ratio of 25 [37].