According to downstream demand and the company's order situation, we expect the company's revenue from 12 to 14 to be 8,054, 9,105 and 10,084 million yuan, respectively, up 14.39%, 13.05% and 10.75%; net profit of 913,1,071 and 1,188 million yuan, respectively, up 11.63%, 17.36% and 10.88%, respectively; corresponding to fully diluted earnings per share after issuance are 0.333,0.391 and 0.433 yuan. The company's products have advanced technology, are widely used, and have good profitability. According to the predicted growth rate of future performance, we gave the company a PE valuation of 13 to 15 times in 12 years. The reasonable value range is 4.33 to 5.00 yuan. Our recommended inquiry range is 3.90 to 4.50 yuan, with a reasonable stock price discount of 10%.
【国金证券】中信重工新股研究:厚积薄发的重机企业
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