OLYMPIC(SH:603920) Huaxin Securities·2024-09-06 04:03Investment Rating - The report maintains a "Buy" investment rating for the company [2] Core Views - The company achieved a revenue of 2.396 billion yuan in the first half of 2024, representing a year-on-year growth of 11.38%, and a net profit attributable to shareholders of 303 million yuan, up 54.59% year-on-year [1] - The company is actively expanding its business in the automotive PCB sector, which is currently its largest sales segment, and has established strong partnerships with major automotive brands [1] - The company continues to increase its R&D investment, with 94.618 million yuan allocated in the first half of 2024, accounting for 3.95% of its revenue [1] Summary by Sections Performance Overview - In the first half of 2024, the company experienced steady revenue growth and a significant increase in profit due to strong market demand and optimized product structure [1] - The company’s net profit from regular operations reached 298 million yuan, reflecting a year-on-year increase of 54.97% [1] Market Position - The company has a solid foundation in the automotive PCB market and is expanding its presence in the domestic and international markets [1] - It has successfully introduced new domestic automotive clients and secured projects in smart driving [1] Financial Forecast - The company is projected to achieve revenues of 5.333 billion yuan, 6.346 billion yuan, and 7.266 billion yuan for the years 2024, 2025, and 2026, respectively [2] - The earnings per share (EPS) are forecasted to be 0.98 yuan, 1.21 yuan, and 1.46 yuan for the same years [2]