Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's revenue for 2024 is expected to reach 331 million yuan, representing a year-on-year increase of 50.22%, with net profit projected at 18 million yuan, a 15.28% increase year-on-year, aligning with market expectations [6] - The recovery in downstream demand and orderly product delivery are driving significant revenue growth for 2024 [6] - The company is positioned as a core supplier of specialty optical fibers, with a comprehensive product line that covers the entire production process, indicating strong growth potential [6] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: - 2023: 220 million yuan - 2024: 331 million yuan - 2025E: 547 million yuan - 2026E: 772 million yuan - 2027E: 1,054 million yuan - Year-on-year growth rates for total revenue are projected at: - 2023: -29.8% - 2024: 50.2% - 2025E: 65.4% - 2026E: 41.1% - 2027E: 36.5% [5][8] - The company's net profit forecast for 2025E has been adjusted to 90 million yuan, down from a previous estimate of 237 million yuan, with new projections for 2026 and 2027 set at 129 million yuan and 172 million yuan respectively [6]