Yangjie Technology(SZ:300373)2024-09-05 04:42Investment Rating - The report maintains a "Buy" rating for the company [6][7]. Core Insights - The company reported a revenue of 2.865 billion yuan for the first half of 2024, representing a year-over-year increase of 9.16%. The net profit attributable to shareholders was 425 million yuan, up 3.43% year-over-year. In the second quarter of 2024, revenue reached 1.537 billion yuan, a year-over-year increase of 16.96%, and net profit was 244 million yuan, up 6.75% year-over-year [6][7]. - The company is experiencing strong demand in the automotive electronics and consumer electronics sectors, with overall orders and shipment volumes increasing year-over-year [6][7]. - The automotive electronics strategy is progressing steadily, with several products having passed automotive-grade reliability verification and others entering mass production [6][7]. - The company is enhancing its international market capabilities, with an increase in gross margin for overseas business, which rose to 45.62% in Q2 2024, up 3.74 percentage points from the previous year [6][7]. - The company is accelerating the development of third-generation semiconductors, with significant advancements in its 1200V SiC MOS platform [7]. Financial Summary - For the first half of 2024, the company achieved total revenue of 2.865 billion yuan, with a year-over-year growth rate of 9.2%. The projected revenue for 2024 is 6.159 billion yuan, with a growth rate of 13.8% [8]. - The net profit attributable to shareholders for 2024 is forecasted to be 951 million yuan, reflecting a year-over-year growth of 2.9% [8]. - The earnings per share for 2024 is estimated at 1.75 yuan, with a projected price-to-earnings ratio of 21 times [8].