研报掘金丨开源证券：首予博俊科技“买入”评级，成功转型模块化供应商

Core Viewpoint - The report from Kaiyuan Securities highlights that Bojun Technology has successfully transformed into a modular supplier, with its die-casting business entering a harvest period [1] Company Overview - Bojun Technology was established in 2004 and is headquartered in Kunshan, Jiangsu Province, initially starting with molds and gradually expanding into stamping and die-casting fields [1] - The company's total revenue is projected to grow from 800 million yuan in 2021 to 4.2 billion yuan in 2024, indicating rapid growth [1] Financial Performance - The profitability of the company has steadily improved, and it is expected to become a leading domestic automotive structural parts enterprise in the future [1] - The average selling price (ASP) of the company's stamping products is approximately 2,000 yuan, with the ASP of die-casting products expected to significantly increase after expanding the product range [1] Product Development - The company has currently laid out die-casting products including shock absorber towers, rear floor panels, and front enclosures [1] - The die-casting business has already expanded its customer base to include companies such as Li Auto, Seres, Geely, BYD, and Leap Motor [1] Investment Rating - The report initiates coverage with a "Buy" rating for Bojun Technology [1]