LSKJ(300680) 浙商证券·2024-12-03 10:10Investment Rating - The investment rating for the company is "Buy" [4][6]. Core Insights - The company announced the establishment of a joint venture named "Longsheng Weirui Innovation Technology Research Institute Co., Ltd." with a registered capital of 10 million yuan, where the company will contribute 9 million yuan, holding a 90% stake [3]. - The joint venture aims to focus on innovative technology exploration in advanced equipment and precision manufacturing, particularly in humanoid robots, low-altitude aircraft, and hydrogen energy [3]. - The company plans to apply 20-30 humanoid robots in real-world scenarios by the end of the year, emphasizing rapid precision positioning and multi-dimensional perception technologies [4]. - Revenue forecasts for 2024-2026 are projected at 2.661 billion, 3.347 billion, and 4.067 billion yuan, representing year-over-year growth of 45.6%, 25.8%, and 21.5% respectively [4][8]. - Net profit forecasts for the same period are expected to be 238 million, 315 million, and 398 million yuan, with year-over-year growth of 61.9%, 32.6%, and 26.2% respectively [4][8]. - Earnings per share (EPS) are projected to be 1.03, 1.36, and 1.72 yuan, with corresponding price-to-earnings (P/E) ratios of 25.12, 18.95, and 15.01 [4][8]. Summary by Sections Company Overview - Longsheng Technology (300680) is focusing on the development of humanoid robots and advanced manufacturing technologies through a new joint venture [3]. Financial Projections - Expected revenues for 2024, 2025, and 2026 are 2.661 billion, 3.347 billion, and 4.067 billion yuan, with respective growth rates of 45.6%, 25.8%, and 21.5% [4][8]. - Projected net profits for the same years are 238 million, 315 million, and 398 million yuan, with growth rates of 61.9%, 32.6%, and 26.2% [4][8]. - EPS estimates are 1.03, 1.36, and 1.72 yuan, with P/E ratios of 25.12, 18.95, and 15.01 [4][8].