Investment Rating - The investment rating for the company is "Outperform" (Maintain) [1] Core Views - The company achieved a revenue of 93.22 million yuan in H1 2024, representing a growth of 27.18% year-on-year, with a net profit attributable to the parent company of 18.10 million yuan, up 17.31% [2] - The growth in revenue is primarily driven by the continuous deepening in the smart lighting sector and the expansion of whole-home smart products, linking ecosystems and innovating product launches [2] - The company maintains its profit forecast for 2024-2026, expecting net profits of 36 million yuan, 42 million yuan, and 46 million yuan respectively, with corresponding EPS of 0.92 yuan, 1.08 yuan, and 1.19 yuan [2] Financial Performance Summary - In H1 2024, the company's main business revenue showed growth across all product lines, with smart home revenue increasing by 77.17% year-on-year, and smart power revenue growing by 26.32% [3] - The company invested 8.27 million yuan in R&D in H1 2024, a 1.92% increase year-on-year, and received multiple patent certifications [4] - The company’s total revenue is projected to reach 205 million yuan in 2024, with a year-on-year growth of 16.8% [6] - The gross margin is expected to decline gradually from 42.6% in 2024 to 39.6% in 2026, while the net margin is projected to decrease from 17.6% to 16.5% over the same period [6]
雷特科技：北交所信息更新：智能家居产品创收增长释放新动能，2024H1营收+27.18%