IKD(600933) ZHONGTAI SECURITIES·2024-11-04 07:02Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's large component business is steadily climbing, contributing to stable revenue growth, while currency fluctuations and cost control have led to significantly better-than-expected profitability [3] - The company has launched a new stock incentive plan, reflecting confidence in sustained growth, and is expanding its overseas production capacity in North America, Southeast Asia, and Europe [3] - The company is expected to achieve revenue of 74.5 billion, 96.8 billion, and 121.0 billion yuan for the years 2024 to 2026, with year-on-year growth rates of 25%, 30%, and 25% respectively [3] Financial Summary - Revenue for Q3 2024 was 1.725 billion yuan, with a quarter-on-quarter increase of 8.4% and a year-on-year increase of 7.33% [2][3] - The net profit attributable to shareholders for Q3 2024 was 292 million yuan, reflecting a year-on-year increase of 44.7% [2][3] - The company's earnings per share (EPS) for 2024 is projected to be 1.00 yuan, with a year-on-year growth of 7% [1][5] - The company's net asset return (ROE) is expected to be 15% in 2024, with a projected P/E ratio of 15.8 [1][5]