Investment Rating - The investment rating for the company is "Outperform" (Maintain) [1][2] Core Views - The company achieved a revenue of 145 million yuan in the first three quarters of 2024, representing a year-on-year growth of 19.33%, and a net profit attributable to the parent company of 29.62 million yuan, up 21.09% year-on-year [2] - The company is focusing on expanding its smart lighting product categories and has launched new products such as the Modena series super smart panel and the Dubai series super smart knob [3] - The global smart lighting control market is expected to grow from 12.44 billion USD in 2023 to 20.22 billion USD by 2031, with a CAGR of 6.2% [4] Financial Performance - For 2024, the company is projected to have a revenue of 205 million yuan, with net profits of 37 million yuan, and an EPS of 0.94 yuan [4] - The gross margin and net margin for 2024 are expected to be 42.6% and 17.9%, respectively [4] - R&D expenses for the first three quarters of 2024 were 13.89 million yuan, a year-on-year increase of 9.85% [4] Market Outlook - The company is recognized as a provincial-level manufacturing champion in Guangdong, with its LED smart dimming driver products listed as champion products [4] - The smart lighting industry is anticipated to have a broad market space, with applications expanding in smart homes and commercial lighting [4]
雷特科技：北交所信息更新：不断丰富照明智控全品类产品，2024Q3归母净利润+27.6%