MeiG(002881) 长城证券·2024-06-05 10:01Investment Rating - The report maintains a "Buy" rating for the company, expecting a stock price increase of over 15% relative to the industry index within the next six months [23]. Core Viewpoints - The company has proposed a stock option and restricted stock incentive plan for 242 middle management and key employees, granting a total of 6.11 million shares, which is 2.33% of the total share capital. This plan aims to boost employee confidence and align their interests with the company's long-term performance [1][13]. - The company has set ambitious revenue and net profit growth targets for 2024-2026, aiming for a minimum of 90% growth in both metrics by 2026, based on 2023 figures [1][27]. - The company is focusing on enhancing its high-performance AI module technology and product offerings, which are expected to drive revenue growth in the coming years [29]. Financial Summary - The company's projected financial performance shows a recovery in revenue growth, with expected revenues of 2.69 billion yuan in 2024, representing a 25.3% year-over-year increase, and net profits of 121 million yuan, an 88.1% increase [26]. - The report forecasts earnings per share (EPS) of 0.46 yuan for 2024, with a price-to-earnings (P/E) ratio of 48 times [29]. - The company's return on equity (ROE) is expected to improve from 4.2% in 2023 to 10.8% by 2026, indicating a positive trend in profitability [26].