打新早报| 动力电池防护材料全球第二固德电材上市，值得投资吗？

Core Viewpoint - The company Gude Electric Materials (固德电材) is launching an IPO with a share price of 58.00 CNY, and it is recommended for investors to carefully consider participation based on the company's fundamentals and market conditions [1]. Group 1: Financial Metrics - The static P/E ratio (excluding non-recurring items) for Gude Electric Materials is 27.75, which is significantly lower than the industry average of 156.2 [3]. - The company's revenue for the last fiscal year was 908 million CNY, with a net profit of 172 million CNY and a non-recurring profit of 173 million CNY [3]. - The gross margin for the last fiscal year was 37.02%, and the return on equity (ROE) was 33.38% [3]. Group 2: Growth Potential - Over the past three years, the compound annual growth rate (CAGR) for revenue was 32.52%, while the CAGR for non-recurring net profit was 44.98% [3]. - The latest revenue growth forecast is 20.05%, with a non-recurring net profit growth forecast of 1.3% for the upcoming year [3][4]. Group 3: Market Position and R&D - Gude Electric Materials specializes in components for thermal runaway protection in power batteries, holding a global market share of 15% to 20%, making it the second-largest player in the industry [4]. - The company has a research and development expense ratio from the previous year, indicating a commitment to innovation and product development [5].