JADARD TECHNOLOGY INC.(688252) Great Wall Securities·2024-10-27 09:17Investment Rating - The report upgrades the investment rating to "Buy" [1][3] Core Views - The company has achieved rapid revenue and profit growth, with a 79.57% year-on-year increase in revenue and a 156.55% increase in net profit for the first three quarters of 2024 [1][2] - The company is benefiting from strong customer demand for its display driver chips for smart mobile terminals and electronic price tags, leading to record quarterly revenue in Q3 2024 [2][3] - The company is increasing R&D investment to enhance its product matrix, with successful mass production of new products contributing to growth [2][3] - Breakthroughs in compensation algorithms for AMOLED technology are expected to drive significant growth in AMOLED DDIC sales [3] Financial Summary - For 2024, the company expects revenue to reach 20.18 billion yuan, a 66.9% increase year-on-year, and net profit to reach 291 million yuan, a 157.7% increase year-on-year [1][4] - The gross margin for the first three quarters of 2024 was 21.38%, up 1.36 percentage points year-on-year, while the net margin was 12.94%, up 3.88 percentage points year-on-year [2][4] - The company forecasts EPS of 0.71 yuan for 2024, 0.95 yuan for 2025, and 1.34 yuan for 2026, with corresponding P/E ratios of 35X, 27X, and 19X [3][4]