研报掘金丨中泰证券：世纪华通2026业绩具备高成长性，予“买入”评级

Core Viewpoint - Century Huatong, established in 2005 and listed on the Shenzhen Stock Exchange in 2011, has evolved through three phases: "cross-industry transition from auto parts to gaming, capital integration and expansion, and diversified development leading to delisting of ST status" [1] Financial Performance - In the first three quarters of 2025, the company achieved a historical high in performance with revenue of 27.223 billion yuan, representing a year-on-year growth of 75.30%, surpassing the total revenue for the entire year of 2024 [1] - The net profit attributable to shareholders reached 4.357 billion yuan, a year-on-year increase of 142%, indicating that the growth rate of net profit significantly outpaced revenue growth, highlighting improved profitability efficiency [1] Growth Potential - Given the strong game development and operation capabilities of Didi Interactive, the group is expected to have high growth potential in 2026, leading to a "buy" rating [1]