卧龙电驱：24H1收入微增，利润端承压，低空板块持续推进

Investment Rating - The report maintains a "Buy" rating for the company [6][8]. Core Views - The company's revenue for H1 2024 slightly increased to 7.978 billion yuan, a year-on-year growth of 2.09%, while the net profit attributable to shareholders decreased by 35.09% to 393 million yuan [6][7]. - The decline in profit is attributed to fluctuations in exchange gains and losses, as well as asset impairment losses [7][8]. - The company is actively participating in the low-altitude economy sector and has been involved in setting industry standards [8]. Financial Summary - H1 2024 revenue: 7.978 billion yuan, up 2.09% year-on-year; Q2 2024 revenue: 4.237 billion yuan, up 6.49% year-on-year [6][7]. - H1 2024 net profit: 393 million yuan, down 35.09% year-on-year; Q2 2024 net profit: 170 million yuan, down 51.01% year-on-year [6][7]. - The company's gross margin for H1 2024 was 25.70%, a slight decrease of 0.48 percentage points year-on-year [7][8]. - The company has adjusted its profit forecasts for 2024-2026, with expected net profits of 917 million, 1.095 billion, and 1.180 billion yuan respectively [8].