GOODIX(603160) Huajin Securities·2024-11-28 10:11Investment Rating - The investment rating for the company is "Buy (Maintain)" [2] Core Views - The company is planning to acquire control of Yunyinggu Technology, which specializes in OLED display driver chips, enhancing its competitive position in the market [2][4] - The acquisition is expected to strengthen the company's industry status and improve market share for Yunyinggu's display driver products through technology complementarity and customer reuse [4] Financial Performance and Projections - The company forecasts revenues of CNY 5.191 billion, CNY 6.172 billion, and CNY 7.221 billion for 2024, 2025, and 2026 respectively, with corresponding net profits of CNY 751 million, CNY 860 million, and CNY 1.020 billion [4][7] - The projected P/E ratios for the same years are 49.9, 43.6, and 36.8 respectively [4][7] - The company reported a revenue of CNY 4.408 billion in 2023, showing a year-on-year growth of 30.3% [4][7] Market Position - In the AMOLED display driver chip market, the company ranked sixth globally and first among domestic suppliers in China in 2022 [2][4] - The company is recognized as a technology pioneer in the Micro OLED silicon-based display driver backplane chip sector, achieving the highest sales globally in this category [2][4] Business Synergy - The company's core business areas include chip design and software development, focusing on smart terminals, IoT, and automotive electronics, which align well with Yunyinggu's product offerings [2][4]