SOKAN(SH:688157) Haitong Securities·2024-08-21 03:40Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Viewpoints - The company reported a significant increase in revenue and net profit for the first half of 2024, with a revenue of 323 million yuan (up 31.51% year-on-year) and a net profit of 41 million yuan (up 52.38% year-on-year) [6] - The high-end consumer electronics segment showed strong performance, achieving revenue of approximately 271.48 million yuan (up 35.67% year-on-year) [6] - The passenger vehicle business also demonstrated growth, with revenue of approximately 46.67 million yuan (up 16.85% year-on-year) [6] - The company successfully launched innovative projects in the battery coating sector, leading to significant commercial opportunities [6] - Profit forecasts for 2024 to 2026 indicate a net profit of 104 million yuan, 156 million yuan, and 217 million yuan respectively, with an expected EPS of 0.93 yuan, 1.40 yuan, and 1.94 yuan [6] Financial Summary - For 2024, the company is expected to achieve a revenue of 731 million yuan, with a year-on-year growth of 24.0% [11] - The gross profit margin is projected to be 48.9% in 2024, improving to 50.5% in 2025 and 50.9% in 2026 [11] - The net profit margin is expected to increase from 14.2% in 2024 to 17.5% in 2026 [11] - The company's total assets are projected to grow from 1.57 billion yuan in 2023 to 2.23 billion yuan in 2026 [12]