新锐股份：2024年三季报点评：Q3营收同比+24%，利润端受非经常性因素扰动

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Insights - The company's revenue growth aligns with expectations, with Q3 revenue increasing by 23.50% year-on-year, while net profit decreased by 12.31% due to non-recurring factors [2][4] - The gross margin slightly declined, with a year-to-date gross margin of 31.72%, down 1.15 percentage points year-on-year [3] - The company is actively expanding its overseas market presence and increasing R&D investment to enhance technological innovation [4] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 1.354 billion yuan, a year-on-year increase of 16.84%, and a net profit of 135 million yuan, up 5.89% year-on-year [2] - The gross margin for Q3 2024 was 30.85%, down 3.00 percentage points year-on-year, and the net profit margin was 9.10%, down 3.34 percentage points year-on-year [3] - The company forecasts a decrease in net profit for 2024-2026, with revised estimates of 1.87 billion yuan for 2024, 2.53 billion yuan for 2025, and 3.26 billion yuan for 2026 [4]