SHUANGHUAN COMPANY(002472)2024-10-30 04:12Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its performance in the market [5][6]. Core Insights - The company reported a record high performance in Q3 2024, with revenue reaching 24.20 billion yuan, a quarter-on-quarter increase of 10.7% and a year-on-year increase of 7.7% [5]. - The overall gross margin improved to 24.0%, reflecting the company's strong position in the industry and operational efficiency [5]. - The company is expanding its product lines in smart automotive actuators and precision gear manufacturing, aiming to capture growth in the electric vehicle market and other intelligent applications [5][6]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 67.43 billion yuan, a year-on-year increase of 14.8%, and a net profit of 7.38 billion yuan, up 25.2% year-on-year [5][6]. - The projected revenue for 2024 is 98.89 billion yuan, with a year-on-year growth rate of 22.5% [6]. - The company expects to achieve net profits of 10.39 billion yuan, 13.04 billion yuan, and 15.34 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding PE ratios of 23x, 19x, and 16x [5][6].