Allwinner Technology (SZ:300458) Huajin Securities·2024-07-16 12:00Investment Rating - The investment rating for the company is "Buy" with a maintained rating of -B [1] Core Views - The company is expected to achieve a net profit attributable to shareholders of 112 million to 128 million yuan, representing a year-on-year growth of 759.31% to 853.50% [1] - The revenue for the first half of 2024 is projected to be approximately 1.048 billion yuan, reflecting a year-on-year increase of about 55% [1] - The semiconductor industry is experiencing a recovery, with increased demand in downstream sectors such as smart automotive, industrial control, and robotics [1] Summary by Sections Financial Performance - The company anticipates a net profit excluding non-recurring gains and losses of 75 million to 89 million yuan, a year-on-year increase of 307.83% [1] - The revenue for Q1 2024 is expected to be 638 million yuan, with a quarter-on-quarter growth of approximately 56% [1] - The operating net profit margin for Q2 2024 is projected to exceed 10% [1] Product Development - The company has increased its R&D investment by about 15% year-on-year, launching a series of new chip products and solutions in 2023 [1] - The new T527 main control chip integrates an 8-core 1.8GHz ARM CortexTM-A55 core, targeting markets such as smart industry and smart automotive [1] Future Growth Prospects - The company is expected to continue expanding its revenue due to the successful launch of new products and solutions [1] - Revenue forecasts for 2024-2026 have been adjusted upwards, with projected revenues of 2.373 billion yuan, 2.943 billion yuan, and 3.631 billion yuan respectively [1] - The net profit attributable to shareholders is also revised upwards to 258 million yuan, 411 million yuan, and 601 million yuan for the same period [1]