姚记科技：多业务经营持续稳健，高分红积极回馈股东

Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on the current market conditions [5][14]. Core Insights - The company reported a revenue of 4.307 billion yuan for 2023, representing a year-on-year growth of 10.01%, and a net profit attributable to shareholders of 562 million yuan, which is a significant increase of 61.37% [5]. - The gaming business focuses on high-quality products, while the advertising marketing segment has shown strong growth, achieving a revenue increase of 24.90% year-on-year [5]. - The company is actively pursuing a "big entertainment" strategy, enhancing production efficiency and exploring new revenue streams in mobile gaming and advertising [5]. Financial Summary - For 2024-2026, the forecasted net profit attributable to shareholders is projected to be 657 million yuan, 794 million yuan, and 891 million yuan, respectively, with corresponding PE ratios of 16.2, 13.4, and 12.0 times [5][18]. - The gross profit margin for 2023 was reported at 37.63%, with a slight decrease of 1.07 percentage points compared to the previous year [5]. - The company plans to distribute a cash dividend of 9 yuan per 10 shares to shareholders [5].