OLYMPIC(SH:603920)2024-09-02 05:09Investment Rating - The report maintains an "Accumulate" rating for the company [1][3] Core Views - The company reported strong revenue and profit growth in the first half of 2024, driven by robust orders and optimized product structure, achieving revenue of RMB 2.396 billion, a year-on-year increase of 11.38%, and a net profit attributable to shareholders of RMB 303 million, up 54.49% year-on-year [2][3] - The automotive electronics sector remains the largest sales segment for the company, with a focus on expanding into the new energy vehicle market and enhancing its market share in automotive PCBs [2][3] - The company has proactively developed its AI business, achieving mass production capabilities for various high-tech PCBs required for AI servers, positioning itself as a key supplier for major international clients [2][3] Financial Summary - The company is projected to achieve revenues of RMB 5.423 billion, RMB 6.263 billion, and RMB 7.236 billion for the years 2024, 2025, and 2026 respectively, with net profits of RMB 627 million, RMB 748 million, and RMB 898 million for the same years [3][4] - The report indicates an expected EPS of RMB 0.95, RMB 1.14, and RMB 1.36 for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 20.1, 16.8, and 14.0 [3][4]