Sharetronic(SZ:300857) Tai Ping Yang·2024-11-01 07:18Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on the last closing price of 73.35 [1][4]. Core Insights - The company reported a significant revenue growth of 67.11% year-on-year for the first three quarters, achieving 5.57 billion yuan in net profit, which is a 184.46% increase [2][3]. - In Q3 alone, the company generated 1.99 billion yuan in net profit, marking a 140.63% year-on-year growth [2][3]. - The gross margin for Q3 improved to 18.62%, an increase of 5.47 percentage points compared to the previous year [3]. - The company has accelerated its computing power business, securing multiple large contracts and expanding its cloud services [3][4]. Summary by Sections Financial Performance - For the first three quarters, the company achieved operating revenue of 5.395 billion yuan, with a net profit of 557 million yuan [2]. - Q3 revenue reached 1.817 billion yuan, with a net profit of 199 million yuan [2]. Business Development - The company is seeing positive developments across various business segments, including high-margin AIOT terminal products and cloud services [3]. - The V-SaaS video cloud service is expanding, with a notable increase in user numbers and steady growth in ARPU [3]. - The company has begun deploying smart self-service beverage machines nationwide as part of its health product category [3]. Future Projections - The profit forecast for the company has been raised, with expected net profits of 813 million yuan, 1.116 billion yuan, and 1.372 billion yuan for 2024, 2025, and 2026 respectively [4]. - Revenue projections for the same years are set at 8.143 billion yuan, 10.730 billion yuan, and 13.026 billion yuan, reflecting growth rates of 74.82%, 31.77%, and 21.40% respectively [5].