MEMSensing(SH:688286) Guohai Securities·2024-11-02 16:09Investment Rating - The report maintains a "Buy" rating for the company [1][6][9] Core Insights - The company achieved a record high in operating revenue for Q3 2024, with a total revenue of 331 million yuan, representing a year-on-year growth of 26.75% and a quarter-on-quarter growth of 11.52% [1][4] - The gross margin for Q3 2024 reached 23.01%, an increase of 10.58 percentage points year-on-year, indicating improved profitability [1][3] - The company has significantly increased its R&D investment, amounting to 58.33 million yuan, which has contributed to the growth of new product lines, particularly in pressure sensors [4][6] Financial Performance Summary - For the first three quarters of 2024, the company reported an operating revenue of 337 million yuan, a year-on-year increase of 29.95% [1][4] - The net profit attributable to the parent company for Q3 2024 was -13 million yuan, showing a year-on-year improvement of 55.2% [1][3] - The company forecasts revenues of 488 million yuan, 613 million yuan, and 770 million yuan for 2024, 2025, and 2026 respectively, with expected net profits turning positive by 2025 [6][7][9]