Zhejiang Zhaolong Interconnect Technology (300913) 海通证券·2024-10-15 02:11Investment Rating - The investment rating for the company is "Outperform the Market" [1] Core Views - The company has a comprehensive layout in the cable connection industry with a wide range of downstream applications including communication, cloud computing, data centers, industrial automation, and smart homes [3][4] - The company is actively advancing its overseas factory projects, particularly in Thailand, where significant progress has been made in equipment installation and trial production [3][4] - The demand for high-speed cables is expected to grow rapidly due to data center construction and advancements in AI technology, with the market for high-speed cables projected to double by 2028 [4][5] - Revenue forecasts for the company are optimistic, with expected revenues of 1.899 billion yuan, 2.306 billion yuan, and 2.811 billion yuan for 2024, 2025, and 2026 respectively [5][9] Summary by Sections Company Overview - The company covers a wide range of products including data cables, specialized cables, and connection products, with applications in various fields such as medical, renewable energy, and aerospace [3][4] Market Performance - The company has shown a significant absolute increase of 33.4% over the past month, outperforming the market index [2][3] Financial Forecast - The company is expected to achieve a net profit of 1.25 billion yuan in 2024, increasing to 2.06 billion yuan by 2026, with an EPS of 0.48 yuan in 2024 and 0.79 yuan in 2026 [5][9] - The gross margin is projected to remain stable and gradually increase, reflecting the company's focus on high-end products [8] Competitive Position - The company is positioned as a leader in high-speed cables, with plans to expand production capacity for high-speed products to meet market demand [4][8]