柯力传感：24Q3业绩符合预期，六维力进展顺利

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [4][12]. Core Views - The company's revenue for the first three quarters of 2024 reached 919 million RMB, a year-on-year increase of 14.03%, while the net profit attributable to shareholders was 191 million RMB, a decrease of 10.74% [2][3]. - The third quarter of 2024 saw revenue of 363 million RMB, up 21.87% year-on-year, with a net profit of 74 million RMB, reflecting a year-on-year increase of 0.38% [2][3]. - The company is successfully expanding its sensor portfolio through acquisitions, which is expected to enhance its profitability in the industrial automation and humanoid robot sectors [4][3]. Summary by Sections Performance Review - Revenue growth is attributed to successful acquisitions, with contributions from subsidiaries such as Huahong Technology and Taozi Automation [3]. - The gross profit margin for Q3 2024 was 43.17%, slightly down from the previous year, primarily due to lower margins from acquired subsidiaries [3]. - Various expense ratios increased, driven by higher costs from newly acquired subsidiaries [3]. Financial Forecast and Valuation - Revenue projections for 2024-2026 are 1.271 billion RMB, 1.481 billion RMB, and 1.695 billion RMB, representing year-on-year growth rates of 18.5%, 16.59%, and 14.45% respectively [4][7]. - Net profit forecasts for the same period are 334 million RMB, 389 million RMB, and 442 million RMB, with growth rates of 6.92%, 16.33%, and 13.63% respectively [4][7]. - The report highlights the potential for continued growth through the integration of acquired companies into the company's sensor ecosystem [4].