Wuhan Jingce Electronic (300567) 国海证券·2024-10-27 08:17Investment Rating - The investment rating for the company is "Buy" (maintained) [2][6][9] Core Insights - The company reported a revenue of 1.831 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 18.50%. The net profit attributable to shareholders reached 82 million yuan, a significant increase of 752.58% year-on-year [2][3] - In Q3 2024, the company achieved a revenue of 710 million yuan, up 63.35% year-on-year and 0.93% quarter-on-quarter. The net profit attributable to shareholders was 32 million yuan, reflecting a year-on-year increase of 231.25% [3] - The company has a strong order backlog totaling approximately 3.168 billion yuan as of September 30, 2024, with significant contributions from the semiconductor and display sectors [3] Financial Performance Summary - For Q3 2024, the gross margin was 43.97%, a decrease of 4.60 percentage points year-on-year but an increase of 3.21 percentage points quarter-on-quarter. The net profit margin was 0.09%, up 10.47 percentage points year-on-year [3] - The company has increased its R&D investment, with R&D expenses reaching 173 million yuan in Q3 2024, a year-on-year growth of 12.22% [3] - The company’s core products in advanced process defect detection equipment have completed delivery, establishing a leading position in the domestic semiconductor testing equipment market [3] Market Data - As of October 25, 2024, the current stock price is 61.99 yuan, with a 52-week price range of 44.30 to 92.50 yuan. The total market capitalization is approximately 16.952 billion yuan [3][4]