Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has deepened its collaboration with Huawei, focusing on digital transformation in finance and healthcare sectors, and has signed a strategic cooperation agreement to develop innovative solutions [5] - The company is upgrading multiple AI products for government applications, integrating advanced models to enhance fiscal management capabilities [5] - The company is positioned as a key competitor in the fiscal IT sector, with expectations of revenue recovery driven by innovations in medical insurance and electronic vouchers [5] Financial Projections - Revenue is projected to be 996 million yuan in 2025, with a growth rate of 20.73%, and expected to reach 1.245 billion yuan by 2027 [4][5] - The net profit attributable to shareholders is forecasted to be 165 million yuan in 2025, increasing to 205 million yuan by 2027, with a net profit growth rate of 58.08% in 2025 [4][5] - The company's PE ratio is expected to decrease from 55.81 in 2025 to 44.99 in 2027, indicating improving valuation metrics [4][5]
中科江南（301153）：公司深化与华为合作，升级多款政务 AI 产品