Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company achieved a significant increase in net profit of 102% in H1 2024, driven by its focus on automotive components and expansion into the new energy vehicle market [3] - Revenue for H1 2024 reached 112 million yuan, representing a year-on-year growth of 20.12%, while net profit attributable to shareholders was 27.43 million yuan [3] - The company is recognized as a national-level specialized and innovative "little giant" enterprise, with a strong reputation in precision automotive components, particularly in precision plastic gears [3] Financial Performance Summary - H1 2024 revenue was 112 million yuan (+20.12%), with a net profit of 27.43 million yuan (+102.37%) and a non-recurring net profit of 18.44 million yuan (+55.79%) [3] - The gross margin increased to 38.19% in H1 2024, with Q2 2024 showing a revenue of 61 million yuan (+15.69%) and a net profit of 11.43 million yuan (+44.23%) [3] - The company forecasts net profits for 2024-2026 to be 54 million yuan, 67 million yuan, and 84 million yuan respectively, with corresponding EPS of 0.82, 1.02, and 1.27 yuan per share [3] Business Segments and Growth - The automotive wiper system and automotive window system components generated revenues of 60.04 million yuan (+19.76%) and 41.62 million yuan (+26.87%) respectively in H1 2024 [4] - The gross margins for the automotive wiper system, window system, and air conditioning system components were 39.30% (+4.53 percentage points), 35.84% (+3.04 percentage points), and 41.31% (+4.62 percentage points) respectively [4] - The company's overseas sales increased by 38% to 17.17 million yuan, with products sold to countries including Mexico, Poland, France, Germany, and Thailand [4] Strategic Investments - The company invested in Jiangsu Moxun Technology Co., which complements its precision injection molding products and has established relationships with major automotive clients [5] - The fundraising project for the "New Energy Vehicle Precision Component Intelligent Manufacturing Project" has seen 16.28% of the total raised funds utilized, with expected operational status by May 10, 2026 [5]
捷众科技：北交所信息更新：2024H1归母净利润高增102%，立足汽车零部件拓展新能源汽车市场