SCIYON(SZ:002380) NORTHEAST SECURITIES·2024-05-31 05:01Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected stock price increase of over 15% in the next six months [12][21]. Core Insights - The company is a leader in the domestic DCS (Distributed Control System) market, having initiated its localization efforts in 2010 and achieving full domestic software and platform development by 2019, reaching advanced levels in reliability and usability [1]. - In 2023, the company secured numerous large-scale control system projects for coal-fired power plants and 9H gas turbines, significantly increasing its market share in these sectors [1]. - The company is expanding its applications across various industries, including chemicals, new energy, natural gas processing, biomedicine, and metallurgy, showcasing its versatility and innovation [1]. - The company is actively pursuing international expansion, aligning with the Belt and Road Initiative, and has engaged in multiple cross-border projects in energy, chemicals, and metallurgy [1]. Financial Summary - The company’s revenue for 2023 was 1,407 million yuan, with projections of 1,872 million yuan for 2024, reflecting a year-on-year growth of 33.05% [2]. - The net profit attributable to the parent company is expected to rise from 161 million yuan in 2023 to 275 million yuan in 2024, marking a significant increase of 71.27% [2]. - The financial forecasts for 2024-2026 indicate continued growth, with revenues projected to reach 27.23 billion yuan by 2026, and net profits expected to grow to 4.09 billion yuan [1][2].