Shenwan Hongyuan Research: Maintains "Buy" rating on GUOXIN MICRO, with future performance expected to achieve rapid growth

Shenwan Hongyuan Research pointed out that GUOXIN MICRO's equity incentive ensures long-term growth and seizes a new starting point for the company's growth. The company plans to grant a total of 16.8 million stock options to 466 core executives and technical backbones. The analysis believes that this equity incentive covers a large number of personnel, penetrating the core backbones of multiple business lines, effectively mobilizing the team's enthusiasm, while also reflecting the high quality of the company's personnel structure. The equity incentive is expected to further elevate per capita revenue and enhance performance growth momentum. Based on the company's indicators, from 2024 to 2028, the company's net profit and net profit attributable to the parent company after deducting non-recurring gains and losses are expected to achieve a CAGR of 25.7%, demonstrating the company's confidence in performance growth in the coming years. Coupled with the equity incentive plan to further motivate employees, the company's revenue is expected to enter a period of rapid growth, with amortization expenses in each reporting period having a limited impact on costs, and the company's performance is expected to achieve high growth. Considering the company's superior product performance, leading position in the industry, and the accelerated release of demand in multiple fields, the company's future performance is expected to achieve rapid growth, thus maintaining a "buy" rating