2024年三季报点评：Q3业绩超预期，持续看好软硬件结合新品放量驱动盈利提升

Investment Rating - The investment rating for the company is "Accumulate" [8] Core Views - The company reported Q3 2024 results that exceeded expectations, with total revenue of 537 million yuan, a year-on-year increase of 36.15%, and a net profit attributable to shareholders of 76 million yuan, up 50.82% year-on-year [2] - Q3 revenue reached a historical high of 227 million yuan, reflecting a 48.71% year-on-year growth, primarily driven by the launch of new automotive electronic products and various hardware-software integrated products [3] - The gross margin for Q3 2024 was 34.40%, an increase of 3.85 percentage points year-on-year, indicating significant improvement in profitability across various product lines [4] - The company is well-positioned with a strong pipeline of new products and a focus on high-margin long-tail categories, which is expected to continue driving revenue growth and profitability [5] Financial Summary - Revenue projections for 2024-2026 are 738 million, 907 million, and 1.088 billion yuan, representing year-on-year growth rates of 32.14%, 22.86%, and 19.98% respectively [6] - Net profit forecasts for the same period are 96 million, 115 million, and 140 million yuan, with corresponding year-on-year growth rates of 37.93%, 20.21%, and 21.20% [6] - The earnings per share (EPS) are projected to be 1.49, 1.79, and 2.17 yuan for 2024, 2025, and 2026 respectively [6]