Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Views - The company has successfully launched a new commercial variable frequency liquid cooling unit aimed at enhancing the efficiency and sustainability of commercial energy storage [2]. - The new product features a dual-loop liquid cooling design that allows for precise temperature control, ensuring optimal performance of the energy storage system under various operating conditions [2][3]. - The introduction of FreeCooling technology enables the unit to utilize natural cooling sources, significantly reducing energy consumption during cooling tasks [3]. - The new unit boasts a lifespan of up to 15 years, operates at noise levels below 70dB, and achieves an annual comprehensive energy efficiency ratio of over 4.5, thereby reducing operational costs and carbon footprint [4]. Financial Summary - The company’s projected net profits for 2024, 2025, and 2026 are estimated at 244 million, 316 million, and 407 million yuan respectively, reflecting a downward adjustment of 23% and 28% for 2024 and 2025 [4]. - Revenue is expected to grow from 1,845 million yuan in 2023 to 2,499 million yuan in 2024, representing a growth rate of 35.43% [4]. - The projected EPS for 2024, 2025, and 2026 are 1.45, 1.88, and 2.41 yuan respectively, with corresponding P/E ratios of 17, 13, and 10 [4]. Market Position - The company is actively expanding into multiple sectors, including energy storage and data center temperature control, with a continuous increase in liquid cooling penetration [4].
同飞股份：事件点评：推出全新工商业变频液冷单元，助力工商业储能高效绿色发展