Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Insights - The company has successfully expanded into the domestic pre-installation market, with significant revenue growth driven by new model launches [4] - The new factory construction is progressing well, expected to complete equipment debugging and trial production by the second half of 2025 [4] - The company has developed new products such as electric winches and shock absorbers, which are anticipated to become new growth drivers [5] - The revenue for the first three quarters of 2024 reached 182 million yuan, a year-on-year increase of 1.34%, with net profit attributable to the parent company at 48.0073 million yuan, up 1.52% year-on-year [3] Financial Summary - For 2024, the company is projected to achieve a revenue of 255 million yuan, with a year-on-year growth of 12.9% [7] - The net profit attributable to the parent company is expected to be 64 million yuan in 2024, reflecting an 11.1% increase year-on-year [7] - The company's earnings per share (EPS) for 2024 is estimated at 0.62 yuan, with a price-to-earnings (P/E) ratio of 24.2 [3][7] - The gross margin is projected to be 42.8% in 2024, with a net margin of 25.2% [7]
天铭科技：北交所信息更新：越野品牌及越野改装装备小巨人，整车前装市场开拓顺利