Investment Rating - The report maintains a "Buy" rating for the company with a target price based on the last closing price of 29.98 [1][4]. Core Views - The company is expected to continue its growth trajectory in the AI server market, with a projected shipment increase of nearly 20% in Q2 2024 and an annual growth rate of 41.5%, leading to an estimated market value of $187 billion [3]. - The company is actively expanding its AI product line, including the launch of new AI supercomputing servers, which is anticipated to enhance its innovative business prospects in the future [4][16]. Financial Summary - The total share capital is 2.51 billion shares, with a total market value of 75.19 billion [3]. - Revenue projections for 2024-2026 are as follows: 4,251.92 million in 2024, 5,187.34 million in 2025, and 6,432.30 million in 2026, reflecting growth rates of 16%, 22%, and 24% respectively [5]. - The net profit for the same period is projected to be 114.43 million in 2024, 199.31 million in 2025, and 298.07 million in 2026, with growth rates of 248.76%, 74.17%, and 49.55% respectively [5]. - The diluted earnings per share (EPS) are expected to be 0.46 in 2024, 0.80 in 2025, and 1.19 in 2026 [5].
智微智能：推出AI超算系列服务器，AI产品线再添品类