Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company plans to acquire 51% of Sainuo Gaode for a total price not exceeding 800 million yuan, aiming to expand into the VC cooling field and create new growth points [2][4] - Sainuo Gaode has strong customer synergy, with major clients including BYD and leading consumer electronics brands such as Apple and Huawei, indicating promising future growth [3] - The acquisition is expected to enhance the company's product line in precision metal processing and accelerate its business layout in the automotive industry [4] Financial Forecast - The company forecasts net profits of 0.08 billion yuan, 0.54 billion yuan, and 0.84 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 0.11 yuan, 0.75 yuan, and 1.17 yuan [5][6] - Main revenue is projected to grow from 678 million yuan in 2023 to 1,152 million yuan in 2026, reflecting a growth rate of 19.9% in 2026 [6] - The report highlights a significant recovery in net profit growth rate, projecting a 591.3% increase in 2025 [6]
捷邦科技：公司动态研究报告：外延进军VC散热领域，打造新增长点