研报掘金丨麦高证券：维持爱柯迪“买入”评级，目标价28.91元

Core Viewpoint - The acquisition of Zhuoerbo by Aikedi is expected to enhance the company's profitability and expand its operational capabilities in the automotive and robotics sectors [1] Group 1: Acquisition Details - Aikedi has completed the acquisition of Zhuoerbo, holding 71% of its shares, making Zhuoerbo a subsidiary [1] - Zhuoerbo specializes in micro and special motor components, which is anticipated to contribute significantly to Aikedi's net profit [1] Group 2: Financial Projections - Zhuoerbo has committed to achieving net profits of no less than 141.5 million, 156.9 million, and 174.1 million yuan for the years 2025 to 2027, respectively [1] - This acquisition is expected to enhance Aikedi's net profit by over 100 million yuan [1] Group 3: Synergy and Growth Potential - The collaboration between Aikedi and Zhuoerbo is expected to create synergies in technology and market development, particularly in the "automotive + robotics" business [1] - Aikedi's overseas capacity expansion is on the verge of ramping up, with the second phase of the Mexico plant entering production and the Malaysia recycling plant set to commence production soon [1] - The construction of an aluminum casting plant has also started, laying a crucial foundation for future performance growth [1] Group 4: Stock Rating - The six-month target price for Aikedi's A-shares is set at 28.91 yuan, maintaining a "buy" rating [1]