Guangzhou Jiacheng International Logistics (603535) 太平洋·2025-03-05 03:45Investment Rating - The report maintains an "Accumulate" rating for the company [1][6] Core Views - The company achieved a total operating revenue of 1.346 billion, representing a year-on-year increase of 9.83%, and a net profit attributable to shareholders of 205 million, up 24.53% year-on-year [4] - The significant profit growth is primarily attributed to the phased operation of the "Jiacheng International Port" project, which is the largest automated intelligent warehouse in Asia [5] - The company is actively expanding partnerships with major cross-border e-commerce platforms and has signed a strategic agreement with Guangdong Port and Shipping Group [5] - The core competitive advantages include a cross-border digital customs clearance technology system, a logistics industry internet platform architecture, and an operational system that integrates intelligent algorithms with physical networks [5] Financial Summary - The company forecasts operating revenue of 1.409 billion for 2025, with a year-on-year growth of 4.7% [7] - The net profit attributable to shareholders is projected to be 213 million in 2025, reflecting a year-on-year increase of 4.3% [7] - The diluted earnings per share are expected to be 0.62 yuan in 2025, with a price-to-earnings ratio of 20.59 [7]