Jiangsu Boqian New Materials Stock (605376) 东方证券·2024-07-18 03:02Investment Rating - The report maintains a "Buy" rating for the company with a target price of 26.33 yuan [21][25]. Core Views - The company is expected to see a significant recovery in profits due to the resurgence of downstream demand, particularly in the consumer electronics sector [29][39]. - The demand for nickel powder is anticipated to improve, driven by growth in MLCC (Multi-Layer Ceramic Capacitor) applications, especially in the automotive electronics and AI server markets [37][39]. - The report highlights the successful transition of the company to semi-automated mass production of silver-coated copper powder, which is expected to accelerate its market penetration [37][39]. Financial Summary - The company's revenue for 2022 was 747 million yuan, with a projected increase to 865 million yuan in 2024, reflecting a growth rate of 25.5% [20]. - The net profit attributable to the parent company is forecasted to recover from a loss of 32 million yuan in 2023 to 92 million yuan in 2024, indicating a significant turnaround [20]. - The earnings per share (EPS) are projected to be 0.35 yuan in 2024, 0.72 yuan in 2025, and 0.91 yuan in 2026 [39].