佳电股份：公司发布定增计划，彰显发展信心

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 16.60 CNY over the next six months [1][7]. Core Views - The report highlights the company's strong growth potential driven by the upcoming production of its main helium wind turbine production line and the rapid growth of its subsidiary, Harbin Electric Drive [7]. - The company is expected to achieve revenues of 6.38 billion CNY in 2024, with a growth rate of 19.9%, and net profits of 493 million CNY, reflecting a growth rate of 23.5% [7][26]. - The report emphasizes the conversion of state-owned capital budget funds into equity, which will help clarify and implement state-owned rights and reduce the company's debt ratio and interest costs [5][6][21]. Financial Data Summary - The company's total revenue projections for 2024-2026 are 6.38 billion CNY, 8.21 billion CNY, and 10.08 billion CNY, respectively, with growth rates of 19.9%, 28.7%, and 22.8% [7][27]. - The net profit forecasts for the same period are 493 million CNY, 617.5 million CNY, and 781 million CNY, with growth rates of 23.5%, 25.2%, and 26.5% [7][27]. - As of March 31, 2024, the company's total assets are projected to be 9.25 billion CNY, with total liabilities of 5.26 billion CNY, resulting in a debt ratio of 50.03% post-equity issuance [6][27].