Laimu Electronics(SH:603633) KAIYUAN SECURITIES·2024-06-29 08:02Investment Rating - The investment rating for the company is "Buy" (maintained) [8][23]. Core Views - The company has achieved significant milestones in the development of Time-Sensitive Networking (TSN) technology in collaboration with Hunan University, which positions it well in the autonomous driving and robotics sectors [3][10]. - The global TSN market is projected to grow from approximately $160 million in 2023 to nearly $2.93 billion by 2030, indicating a robust compound annual growth rate (CAGR) of 51.2% from 2024 to 2030 [9]. - The company is expected to maintain its profit forecasts for 2024, 2025, and 2026, with net profits projected at 126 million, 176 million, and 251 million yuan respectively [8]. Financial Summary - Revenue is expected to grow from 1,090 million yuan in 2023 to 3,056 million yuan in 2026, reflecting a year-over-year growth rate of 43.7% in 2024 and 40.5% in 2025 [4]. - The company's net profit is forecasted to increase significantly, with a year-over-year growth of 75.1% in 2024 and 39.6% in 2025 [4]. - The projected earnings per share (EPS) are expected to rise from 0.17 yuan in 2023 to 0.59 yuan in 2026 [4].