Shuanglin Auto Parts(SZ:300100) Huachuang Securities·2024-07-26 06:01Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 14.66 CNY [1]. Core Views - The company is expected to achieve a significant increase in net profit for the first half of 2024, with estimates ranging from 220 million to 250 million CNY, representing a year-on-year increase of 239.41% to 285.70% [7]. - The company is focusing on expanding its business lines, particularly in precision manufacturing and electric drive systems, which are anticipated to drive revenue growth [12]. - The implementation of an employee stock ownership plan is expected to enhance employee motivation and retention, which is crucial for navigating challenging periods [12]. Financial Summary - The company forecasts total revenue for 2024 to be 4.684 billion CNY, with a year-on-year growth rate of 13.2% [37]. - The projected net profit for 2024 is adjusted to 370 million CNY, reflecting a substantial increase of 357.6% compared to the previous year [37]. - The earnings per share (EPS) is expected to rise to 0.92 CNY in 2024, with a price-to-earnings (P/E) ratio of 13 [37]. - The company has a total market capitalization of approximately 4.845 billion CNY, with a circulating market value of 4.680 billion CNY [7].