Sharetronic(300857) 华创证券·2024-11-01 14:17Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 105.66 CNY, compared to the current price of 73.30 CNY [1]. Core Insights - The company has shown steady revenue growth, achieving 5.39 billion CNY in revenue for the first three quarters of 2024, a year-on-year increase of 67%. The net profit attributable to shareholders reached 560 million CNY, up 184% year-on-year [1]. - The report highlights the continuous improvement in the company's high-margin new business segments, particularly in data storage and AIOT terminal sales, which have seen significant growth in overseas markets [1]. - The company is actively expanding its cloud services, with notable growth in user numbers and ARPU (Average Revenue Per User) for its V-SaaS video cloud service [1]. - The report emphasizes the company's strategic partnerships with major clients in the cloud business, indicating a strong potential for future growth in its computing power services [1]. Financial Performance Summary - For Q3 2024, the company reported revenue of 1.817 billion CNY, a year-on-year increase of 31%, with a net profit of 200 million CNY, reflecting a 141% year-on-year growth [1]. - The financial forecast estimates revenues of 8.399 billion CNY, 12.455 billion CNY, and 15.753 billion CNY for 2024, 2025, and 2026 respectively, with net profits projected at 827 million CNY, 1.305 billion CNY, and 1.698 billion CNY for the same years [2][6]. - The report indicates a significant increase in earnings per share (EPS), projected to be 3.37 CNY in 2024, 5.32 CNY in 2025, and 6.92 CNY in 2026 [2][6].