GCLET(SZ:002015) Great Wall Securities·2024-06-13 12:01Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% relative to the industry index in the next six months [8]. Core Viewpoints - The company has shown stable development in its clean energy main business, with a focus on the integrated "solar-storage-charging" model, which is expected to drive future growth [2][3]. - The company achieved a revenue of 10.144 billion yuan in 2023, a decrease of 7.37% year-on-year, while net profit attributable to shareholders increased by 32.87% to 909 million yuan [1][2]. - The company is actively enhancing its renewable energy capacity, with significant investments in solar and wind projects, and aims to optimize its asset structure [3][8]. Financial Summary - Revenue is projected to grow from 12.564 billion yuan in 2024 to 16.231 billion yuan in 2026, with year-on-year growth rates of 23.9%, 13.5%, and 13.8% respectively [1][8]. - Net profit attributable to shareholders is expected to increase from 1.247 billion yuan in 2024 to 1.731 billion yuan in 2026, with growth rates of 37.2%, 20.1%, and 15.6% respectively [1][8]. - The company's EPS is forecasted to rise from 0.77 yuan in 2024 to 1.07 yuan in 2026, with corresponding P/E ratios decreasing from 11.5 to 8.3 [1][8].