Wenzhou Yihua (SZ:002897) ZHESHANG SECURITIES·2024-07-12 01:02Investment Rating - The investment rating for the company is "Buy" (maintained) [19] Core Insights - The company is expected to see significant growth in its performance due to strong demand for photovoltaic brackets and connectors, particularly in the U.S. market, where production capacity is ramping up [3][6][16] - The company has established solid partnerships with major clients such as Huawei, ZTE, and others, which positions it well for future growth in both traditional and high-speed connector markets [6][16] - The forecasted revenue for 2024-2026 is projected to be 75.81 billion, 94.74 billion, and 111.78 billion yuan, representing year-on-year growth rates of 49.9%, 25.0%, and 18.0% respectively [18] Financial Summary - The expected operating income for 2024 is 75.81 billion yuan, with a net profit attributable to the parent company projected at 4.02 billion yuan, reflecting a year-on-year increase of 229.0% [18] - The earnings per share (EPS) are forecasted to be 2.07 yuan in 2024, increasing to 3.42 yuan by 2026 [7][18] - The company's P/E ratios are projected to decrease from 19.6 in 2024 to 11.9 in 2026, indicating improving valuation metrics over time [18]