鼎捷数智：AI与出海加速推进，收入持续稳健增长

Investment Rating - The investment rating for the company is maintained at "Buy-A" with a 6-month target price of 28.46 CNY, representing a dynamic price-to-earnings ratio of 40 times for 2024 [4][8]. Core Insights - The company has launched a new AI application, ChatCAD, based on large model technology, aimed at achieving technological innovation in design management and knowledge management [1]. - For the first three quarters of 2024, the company reported a revenue of 1.573 billion CNY, a year-on-year increase of 11.21%, and a net profit attributable to shareholders of 49.89 million CNY, up 2.15% year-on-year [1]. - The company continues to see strong growth in its R&D design and AIoT businesses, with R&D design revenue increasing by 23.17% year-on-year [2]. Summary by Sections Revenue Performance - In the first three quarters, revenue from mainland China reached 735 million CNY, growing by 11.33% year-on-year, while revenue from non-mainland China was 838 million CNY, up 11.11% [2]. - The company has seen a 32% year-on-year increase in new customer contracts in Taiwan and a 58% increase in revenue from Chinese enterprises going abroad [2]. Business Segments - R&D design revenue was 84.39 million CNY, up 23.17% year-on-year, while AIoT revenue reached 404 million CNY, growing by 41.83% [2]. - Digital management revenue was 852 million CNY, with a modest growth of 1.3%, and production control revenue was 218 million CNY, increasing by 5.67% [2]. Financial Forecast - The company is projected to achieve revenues of 2.536 billion CNY, 2.846 billion CNY, and 3.305 billion CNY for the years 2024, 2025, and 2026, respectively, with net profits of 193 million CNY, 226 million CNY, and 258 million CNY for the same years [8][10].