Cctech(300604) 民生证券·2024-07-16 23:30Investment Rating - The report maintains a "Recommended" rating for the company [2]. Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2024, with estimates ranging from 200 to 230 million yuan, representing a year-on-year growth of 877% to 1023% [1]. - The second quarter of 2024 is projected to show a substantial increase in performance, with net profit estimates between 196 to 226 million yuan, indicating a year-on-year growth of 152% to 191% and a quarter-on-quarter growth of 4702% to 5437% [1]. - The company has successfully developed a diverse range of new products, enhancing its product matrix, particularly in the backend testing equipment sector [1]. - The implementation of an equity incentive plan reflects the company's confidence in achieving high growth targets, with ambitious revenue growth rates set for the years 2024 to 2028 [1]. - The company is projected to achieve revenues of 3.137 billion yuan in 2024, with net profits expected to reach 538 million yuan, corresponding to a PE ratio of 40 [2]. Financial Summary - The company forecasts total revenue of 3.137 billion yuan for 2024, with a growth rate of 76.7% compared to the previous year [5]. - The net profit attributable to shareholders is expected to be 538 million yuan in 2024, reflecting a growth rate of 1090.5% [5]. - The earnings per share (EPS) is projected to be 0.86 yuan for 2024, with a PE ratio of 40 [5]. - The company anticipates a gross margin of 59.51% in 2024, indicating strong profitability [5]. - The total assets are expected to reach 7.011 billion yuan by 2024, with a debt-to-asset ratio of 42.19% [5].