Dongguan Aohai Technology (SZ:002993) Minsheng Securities·2024-11-01 10:52Investment Rating - The report maintains a "Recommended" rating for the company, considering its position as a leading manufacturer in mobile charging and storage solutions [2][4]. Core Views - The company reported a revenue of 4.546 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 27.40%, while the net profit attributable to shareholders decreased by 13.77% to 301 million yuan [2]. - The company is facing short-term pressure on profitability but is expected to recover through overseas expansion and product competitiveness improvements [2]. - The report highlights the growth potential in the AI sector, particularly in mobile devices and IoT, which is expected to drive revenue growth [2]. - The company is actively developing a product matrix in the digital energy sector, including inverters and energy storage solutions, to capitalize on the growth in the new energy vehicle and renewable energy markets [2]. Financial Summary - For 2024, the company is projected to achieve a revenue of 6.530 billion yuan, with a growth rate of 26.2% [3]. - The net profit attributable to shareholders is expected to be 469 million yuan in 2024, reflecting a growth rate of 6.4% [3]. - The report provides a detailed financial forecast, indicating a steady increase in revenue and net profit over the next few years, with projected net profits of 590 million yuan in 2025 and 687 million yuan in 2026 [3][5].