AWINIC(SH:688798) China Post Securities·2024-08-20 10:00Investment Rating - The report maintains a "Buy" rating for the company [2][4] Core Insights - The company has expanded its application fields into automotive and industrial sectors, leading to continuous improvement in profitability. In the first half of 2024, the company achieved a revenue of 1.581 billion yuan, a year-on-year increase of 56.77%, with a gross margin of 28.09% [3][4] - The company reported a net profit attributable to shareholders of 91 million yuan, marking a significant turnaround from losses, with a year-on-year growth of 231.25% [3][4] - The company has diversified its product offerings and expanded its customer base, investing 253 million yuan in R&D, which accounts for 15.99% of its revenue [3][4] Financial Summary - For 2023, the company reported a revenue of 2.531 billion yuan, with a growth rate of 21.12%. Projections for 2024, 2025, and 2026 are 3 billion yuan, 3.605 billion yuan, and 4.332 billion yuan respectively, with growth rates of 18.53%, 20.16%, and 20.18% [6][8] - The net profit attributable to shareholders is projected to be 208.26 million yuan in 2024, 352.42 million yuan in 2025, and 499.40 million yuan in 2026, with growth rates of 308.28%, 69.22%, and 41.71% respectively [6][8] - The company's earnings per share (EPS) is expected to rise from 0.22 yuan in 2023 to 2.15 yuan in 2026 [6][8]