贝斯特：Q3利润端表现优秀，第三梯次业务均有新进展

Investment Rating - The investment rating for the company is "Buy (Maintain)" based on the analysis of the Q3 performance and future growth potential [5][6]. Core Insights - The company reported a revenue of 1.042 billion yuan for the first three quarters of 2024, reflecting a year-on-year increase of 3.5%, and a net profit attributable to shareholders of 225 million yuan, up 7.1% year-on-year [5][6]. - In Q3 2024, the company achieved a revenue of 345 million yuan, with a quarter-on-quarter decline of 7.6% and a year-on-year increase of 1.0% in net profit, indicating strong profit performance despite slight revenue pressure [5][6]. - The gross margin increased to 35.1% in Q3, with a net margin of 23.5%, showing improved profitability [5][6]. - The company is expanding its product offerings in the automotive sector, particularly in new energy vehicle components, which is expected to become a significant growth driver [5][6]. - The establishment of overseas production facilities, including a new base in Thailand, is aimed at enhancing global supply capabilities and preparing for future export growth [5][6]. - The company has made strategic advancements in its third industry orders, particularly in high-precision components for industrial machinery and robotics, which are anticipated to contribute to future revenue growth [5][6]. Financial Summary - For 2024, the company is projected to achieve a total revenue of 1.541 billion yuan, with a year-on-year growth rate of 14.7% [6]. - The net profit forecast for 2024 is 303 million yuan, reflecting a growth rate of 14.9% [6]. - The earnings per share (EPS) is expected to be 0.61 yuan for 2024, with a projected price-to-earnings (PE) ratio of 29 times [6].