罗博特科：Ficon TEC收购持续推进，受益硅光技术产业化加速

Investment Rating - The investment rating for the company is "Accumulate" [9] Core Viewpoints - The company is acquiring 100% of FiconTEC through a combination of issuing shares and cash payments, which includes purchasing 81.18% of shares from Jian Guang Guang Zhi and 6.97% from ELAS Technologies Investment GmbH [1] - FiconTEC is a leading provider of silicon photonic module equipment, having delivered over 1,000 units globally to major clients such as Intel, Cisco, and NVIDIA. The company has a backlog of orders amounting to approximately €48 million as of December 13, 2024, with additional orders expected soon [2] - The rapid development of the optoelectronic industry and the acceleration of silicon photonics and CPO technology commercialization are driving significant demand for high-precision equipment [8] Financial Summary - The company's projected revenue for 2024 is approximately 1,861 million yuan, with a year-on-year growth of 18.39% [22] - The net profit attributable to the parent company for 2024 is estimated at 103.43 million yuan, reflecting a growth of 34.09% compared to the previous year [22] - The company's P/E ratio is projected to decrease from 457.16 in 2023 to 340.93 in 2024, indicating an improvement in valuation [22] - The company's total assets are expected to grow from 2,567 million yuan in 2023 to 2,632 million yuan in 2024 [14]