点评报告：业绩稳健增长，FB业务有望打造新增长极

Investment Rating - The investment rating for the company is "Buy" (首次覆盖) [14][15] Core Views - The company reported a revenue of 2.881 billion yuan for 2023, representing a year-on-year growth of 14.58% [14] - The net profit attributable to the parent company for 2023 was 546 million yuan, an increase of 7.73% year-on-year [14] - The company is expected to maintain robust growth, with projected net profits of 689 million yuan, 831 million yuan, and 980 million yuan for 2024, 2025, and 2026 respectively [14][15] Financial Summary - Revenue Forecast: - 2022A: 2.515 billion yuan - 2023A: 2.881 billion yuan - 2024E: 3.549 billion yuan (growth rate: 23.16%) - 2025E: 4.177 billion yuan (growth rate: 17.69%) - 2026E: 4.920 billion yuan (growth rate: 17.80%) [3][16] - Net Profit Forecast: - 2022A: 506 million yuan - 2023A: 546 million yuan - 2024E: 689 million yuan (growth rate: 26.24%) - 2025E: 831 million yuan (growth rate: 20.63%) - 2026E: 980 million yuan (growth rate: 17.92%) [3][16] - Earnings Per Share (EPS): - 2022A: 0.88 yuan - 2023A: 0.94 yuan - 2024E: 1.19 yuan - 2025E: 1.44 yuan - 2026E: 1.70 yuan [3][16] - Valuation Ratios: - P/E ratios for 2024E, 2025E, and 2026E are projected to be 20.4x, 16.9x, and 14.3x respectively [15][16]