Wondershare(300624) 国盛证券·2024-08-21 00:12Investment Rating - The report maintains a "Buy" rating for the company, indicating confidence in its long-term growth potential despite short-term performance challenges [2][4]. Core Insights - The company reported a revenue of 705 million yuan for the first half of 2024, a decrease of 1.80% year-on-year, and a net profit of 24.49 million yuan, down 43.99% year-on-year, reflecting temporary performance pressure [1][2]. - The company is heavily investing in AI technology, completing over 100 AI algorithms during the reporting period, which supports product capability expansion and quality improvement [2]. - A share repurchase plan was announced, with a commitment to buy back shares worth between 20 million and 40 million yuan, demonstrating confidence in the company's future prospects [2]. Financial Summary - Revenue for 2024 is projected to reach 1.668 billion yuan, with a year-on-year growth rate of 12.7% [3]. - The net profit for 2024 is expected to be 95 million yuan, reflecting a growth rate of 10.2% [3]. - The company’s earnings per share (EPS) is forecasted to be 0.49 yuan for 2024, with a projected increase to 0.82 yuan by 2026 [3][9]. - The price-to-earnings (P/E) ratio is expected to decrease from 94.2 in 2023 to 51.2 by 2026, indicating improving valuation metrics [3][9].