百龙创园：季度业绩再创新高，全年顺利收官-20250219

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved a record high quarterly performance, with a total revenue of 1.152 billion yuan in 2024, representing a year-on-year increase of 32.64%. The net profit attributable to the parent company reached 249 million yuan, up 29.20% year-on-year [1][4] - The strong performance in Q4 2024 was driven by increased production capacity and sales growth, with Q4 revenue reaching 331 million yuan, a year-on-year increase of 54.45% [1][4] - The company is expected to benefit from the release of new production capacity in May 2024, which will further enhance sales and revenue [4] Financial Summary - Total revenue for 2024 is projected at 1.152 billion yuan, with a growth rate of 32.6% compared to 2023 [3] - The net profit attributable to the parent company is forecasted to be 249 million yuan in 2024, with a year-on-year growth rate of 29.1% [3] - The company's gross margin is expected to improve to 36.3% in 2024, reflecting operational efficiency [3] - Earnings per share (EPS) for 2024 is estimated at 0.77 yuan, with a price-to-earnings (P/E) ratio of 25.53 [3] - The return on equity (ROE) is projected to be 14.2% in 2024, indicating strong profitability [3]