Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's performance in the first three quarters of 2024 met expectations, with total revenue of 267 million yuan, a year-on-year increase of 19.10%, and a net profit of 23 million yuan, up 35.39% year-on-year [2] - The high-speed rail information technology business showed significant growth, contributing to the company's good operational status, with operating profit increasing by 33.34% year-on-year [2] - The company has a solid order backlog in the computing power sector, with the total computing power scale in China expected to exceed 6,915.9 billion USD by 2028, indicating strong growth potential [3] - The company aims to improve its business structure by focusing on technology services, cybersecurity, and computing power services, while maintaining stable growth in its 5G infrastructure business [3] Financial Forecasts - The company is expected to achieve revenues of 558.8 million yuan, 737.08 million yuan, and 855.15 million yuan for the years 2024, 2025, and 2026 respectively, with net profits of 47.26 million yuan, 62.95 million yuan, and 73.73 million yuan for the same years [4] - The report projects an EPS of 0.44 yuan, 0.59 yuan, and 0.69 yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 36.58, 27.46, and 23.45 [4]
广脉科技：2024年三季报点评：业绩增长符合预期，公司发展前景良好