新泉股份：公司事件点评报告：Q2业绩符合预期，加速全球化布局

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Insights - The company's performance meets expectations, with a focus on accelerating global expansion [2]. - In H1 2024, the company achieved total revenue of 6.16 billion, a year-on-year increase of 33.1% [2]. - The company is deepening its partnerships with high-quality clients such as Geely, Chery, Li Auto, and BYD, driving stable revenue growth [2]. - The company is expanding its product categories, with significant revenue growth in dashboard assemblies and exterior accessories [2]. - The company is actively enhancing its domestic and international industrial layout, including the construction of a research center in Shanghai and expanding production bases in Mexico, the United States, and Slovakia [2]. Financial Summary - The company forecasts revenues of 10.57 billion, 13.77 billion, 17.53 billion, and 21.73 billion for 2023A, 2024E, 2025E, and 2026E respectively, with growth rates of 52.2%, 30.2%, 27.3%, and 24.0% [4]. - The net profit attributable to shareholders is projected to be 806 million, 1.11 billion, 1.49 billion, and 1.83 billion for the same years, with growth rates of 71.2%, 38.2%, 33.5%, and 23.0% [4]. - The diluted earnings per share (EPS) are expected to be 1.65, 2.28, 3.05, and 3.75 for 2023A, 2024E, 2025E, and 2026E respectively [4]. - The company's return on equity (ROE) is projected to increase from 16.1% in 2023A to 21.6% in 2026E [4].