Investment Rating - The investment rating for the company is "Outperform" (Maintain) [2] Core Views - The company has entered the first tier of the community charging segment in the new energy charging and swapping business, with a revenue growth of 22% in Q3 2024 [2] - The company achieved a revenue of 279 million yuan in the first three quarters of 2024, representing a year-on-year increase of 13.84%, and a net profit attributable to the parent company of 24.17 million yuan, up 10.52% [5] - The company is expected to maintain stable growth in its smart mining business and rapid growth in its new energy charging and swapping business over the next two to three years [6] Financial Performance - For 2024, the company forecasts net profits attributable to the parent company of 67 million yuan, 84 million yuan, and 106 million yuan for the years 2024, 2025, and 2026 respectively, with corresponding EPS of 0.87 yuan, 1.09 yuan, and 1.37 yuan [5][9] - The current stock price corresponds to P/E ratios of 32.7, 26.2, and 20.8 for the years 2024, 2025, and 2026 respectively [5][9] - The company has a gross margin of 40.76% and a net margin of 7.99% for the first three quarters of 2024 [5] Business Development - The company has sufficient orders on hand, and the smart mining business is expected to maintain a growth trend in 2024 [6] - The new energy charging and swapping business is anticipated to generate revenue starting in 2024, with plans to expand into uncovered areas and develop sodium-ion battery swapping services [6] - The company is actively conducting research and development related to autonomous driving technology, having obtained 418 intellectual property rights, including 170 patents [7]
科达自控：北交所信息更新：新能源充换电进入细分赛道第一梯队，2024Q3营收+22%