ZWSOFT(SH:688083) Guoyuan Securities·2024-05-09 11:00Investment Rating - The report maintains a "Buy" rating for the company [20][24]. Core Insights - The company achieved rapid revenue growth, with a total revenue of 827.59 million yuan in 2023, representing a year-on-year increase of 37.71%. The net profit attributable to shareholders reached 61.41 million yuan, a significant increase of 922.84% year-on-year [21][24]. - The company is expanding its domestic and international market presence, enhancing industry solutions and channel development. The overseas business revenue grew by 71.14% year-on-year [22][24]. - The company is increasing its R&D investment, which reached 40.38 million yuan in 2023, up 27.58% year-on-year. It has also made strategic acquisitions in the fluid simulation sector [23][24]. Financial Performance - Revenue projections for 2024-2026 are 1.01 billion yuan, 1.21 billion yuan, and 1.42 billion yuan, respectively. The net profit forecasts for the same period are 80.18 million yuan, 103.07 million yuan, and 129.12 million yuan, respectively [9][24]. - The company's earnings per share (EPS) are projected to be 0.66 yuan, 0.85 yuan, and 1.06 yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (P/E) ratios of 118.56, 92.23, and 73.63 [24].