Jiangsu JieJie Microelectronics (SZ:300623) Huaxin Securities·2024-10-18 01:08Investment Rating - The investment rating for the company is "Buy (Maintain)" [6] Core Views - The company is expected to achieve a net profit attributable to shareholders of between 313.56 million and 356.32 million yuan for the first three quarters of 2024, representing a year-on-year growth of 120% to 150% [2][3] - The company has successfully completed the acquisition of a subsidiary, enhancing its profitability and operational capacity [4] - The company is focusing on the automotive electronics market, with a "vehicle-grade" packaging project expected to begin partial trial production by the end of the year [5] Summary by Sections Market Performance - The company has shown significant growth in net profit for the first three quarters of 2024, driven by a recovery in the semiconductor industry and increased demand in downstream markets [3] Profit Forecast - Revenue forecasts for 2024 to 2026 are 2.804 billion, 3.499 billion, and 4.349 billion yuan respectively, with corresponding EPS of 0.55, 0.72, and 0.94 yuan [6][8] - The company is expected to maintain a high growth rate in revenue and profit due to the acquisition of the subsidiary and improvements in production capacity [6] Financial Metrics - The company’s revenue growth rate is projected at 33.1% for 2024, with a net profit growth rate of 85.1% [8] - The company’s return on equity (ROE) is expected to increase from 5.0% in 2023 to 8.5% in 2024 [8]