LUXSHARE-ICT(SZ:002475) Soochow Securities·2024-10-28 17:01Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company achieved a revenue of 177.2 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 14%. The net profit attributable to shareholders was 9.1 billion yuan, an increase of 23% year-on-year [1] - The company is expected to benefit significantly from the AI wave in the consumer electronics sector, with a projected net profit of 13.69 to 13.7 billion yuan for the full year 2024, reflecting a growth of 20% to 25% [2][3] - The acquisition of Leoni, a leading supplier of cable and wiring systems, is a strategic move to enhance the company's automotive business and international presence, aiming to become a top ten Tier 1 supplier globally [2] Financial Performance Summary - For 2024, the company forecasts total revenue of 260.47 billion yuan, with a year-on-year growth of 12.32%. The net profit is projected to be 13.688 billion yuan, a growth of 24.97% [1][3] - The earnings per share (EPS) for 2024 is estimated at 1.89 yuan, with a price-to-earnings (P/E) ratio of 23.03 based on current market price [1][4] - The company’s total assets are projected to reach 194.896 billion yuan in 2024, with total liabilities of 110.294 billion yuan, resulting in a debt-to-asset ratio of 56.59% [8][9]