Tricolor(SH:603516) KAIYUAN SECURITIES·2024-07-11 09:00Investment Rating - The report maintains a "Buy" rating for the company [4][5]. Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2024, with estimates ranging from 37.00 to 40.70 million yuan, representing a year-on-year growth of 460.15% to 516.16% [1]. - The company has successfully launched three new chip products, enhancing its technological leadership in the industry [7][16]. - Collaboration with a major AI computing company has led to breakthroughs, with expectations for accelerated growth in the second half of the year [2][6]. Financial Summary - The company's projected net profit for 2024-2026 is estimated at 130 million, 172 million, and 224 million yuan, respectively, with corresponding EPS of 0.64, 0.85, and 1.11 yuan per share [5]. - Revenue is expected to grow steadily, with 2024 revenue projected at 659 million yuan, reflecting a year-on-year increase of 32% [8]. - The gross margin is anticipated to improve, with projections of 49% for 2024 [8]. Business Development - The company has made significant progress in expanding its overseas business, achieving a notable increase in revenue from international operations [6]. - The successful adaptation of product lines to align with the rapidly evolving offerings from the partnered AI computing giant is expected to drive further growth [6].