SHUANGHUAN COMPANY(SZ:002472) Guohai Securities·2024-09-27 08:07Investment Rating - The report maintains an "Accumulate" rating for the company [1][7]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 7.23 to 7.43 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 22.66% to 26.05% [3][4]. - The growth is driven by the rapid expansion of the new energy gear and intelligent actuator businesses, which are expected to inject new growth momentum into the company's overall performance [4][5]. - The company has established strong relationships with leading electric vehicle manufacturers, which is anticipated to further enhance its market share in the new energy gear sector [4][5]. Summary by Sections Financial Performance - For Q3 2024, the company forecasts a net profit of 2.5 to 2.7 billion yuan, a year-on-year increase of 13.21% to 22.26% [3][4]. - The average net profit forecast for Q3 2024 is 2.6 billion yuan, reflecting a quarter-on-quarter increase of 3.3% [4]. Business Growth Drivers - The new energy gear business has become a major driver of performance, with significant growth expected from key clients such as BYD and NIO [4][5]. - The intelligent actuator segment is also showing substantial year-on-year growth, contributing to the overall revenue increase [4][5]. Future Outlook - The company aims to expand its overseas market presence, which is expected to further boost its global market share in the new energy gear sector [4][5]. - The report projects total revenue for 2024 to reach 10,046 million yuan, with a year-on-year growth rate of 24% [6][7].