TRANSSION(688036)2024-10-31 09:16Investment Rating - The investment rating for the company is "Buy (Maintain)" [4][7]. Core Views - The company's Q3 2024 revenue reached 51.252 billion yuan, representing a year-over-year increase of 19.13%, while the net profit attributable to the parent company was 3.903 billion yuan, up 0.5% year-over-year [4]. - The Q3 2024 revenue was 16.693 billion yuan, showing a year-over-year decline of 7.22% and a quarter-over-quarter decrease of 2.46%, with a net profit of 1.051 billion yuan, down 41% year-over-year [4]. - The company has experienced a significant increase in smartphone shipments, with a 30.8% year-over-year growth, ranking fifth globally in smartphone shipments [5]. - The company is expanding its market presence in Southeast Asia and Latin America, maintaining over 40% market share in Africa [5]. Financial Summary - For 2023, total revenue was 62.295 billion yuan, with a year-over-year growth rate of 33.7% [8]. - The net profit for 2023 was 5.537 billion yuan, reflecting a year-over-year increase of 122.9% [8]. - The projected revenue for 2024 is 68.937 billion yuan, with a growth rate of 10.7% [8]. - The projected net profit for 2024 is 5.449 billion yuan, indicating a slight decline of 1.6% year-over-year [8]. - The gross margin for 2024 is expected to be 22.0%, with a return on equity (ROE) of 24.0% [8].