Lante Optics(SH:688127)2024-11-03 03:40Investment Rating - The report maintains an "Outperform" rating for the company [6][8]. Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2024, with revenue reaching 786 million yuan, up 60.41% year-on-year, and net profit of 162 million yuan, up 75.99% year-on-year [6]. - The growth is attributed to the successful penetration of periscope camera models and the continuous increase in revenue from the optical prism segment, which saw a 191% year-on-year increase in 2023 and a 313% increase in the first half of 2024 [6][7]. - The report highlights the expected doubling of micro-prism shipment volumes due to the adoption of periscope cameras in newer iPhone models, which is anticipated to enhance average selling prices (ASP) [7]. - The demand for automotive lenses and laser radar is increasing due to advancements in smart driving technology, benefiting the company's glass aspheric lens business, which saw a 16% revenue growth in the first half of 2024 [7]. Financial Summary - For 2024, the company is projected to achieve total revenue of 1,154 million yuan, with a year-on-year growth rate of 52.9% [9]. - The net profit forecast for 2024 is adjusted to 266 million yuan, reflecting a year-on-year growth of 47.9% [9]. - The report provides a detailed financial outlook, including earnings per share (EPS) projections of 0.66 yuan for 2024 and a projected price-to-earnings (PE) ratio of 36 for the same year [9][11].