Autel(SH:688208) Soochow Securities·2025-01-08 04:51Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [10]. Core Insights - The company has released a 2024 earnings forecast, expecting revenue between 3.8 billion to 4.0 billion RMB, representing a year-on-year growth of 16.9% to 23.0%, with a midpoint of 3.9 billion RMB and a year-on-year increase of 20.0% [2]. - The company is focusing on robotics and AI as a new growth curve, having established a wholly-owned subsidiary for robotics and launched a "ground-air integrated cluster intelligence solution" centered on generative AI, with collaborations with major clients like PetroChina [3]. - The digital energy business is projected to benefit significantly from overseas growth, with expected revenue of 830 million to 890 million RMB in 2024, reflecting a year-on-year increase of 51.8% [4]. - The digital repair business is expected to remain a stable contributor, with projected revenue of 2.95 billion to 3.09 billion RMB in 2024, indicating a year-on-year growth of 14.0% [5]. Financial Projections - The total revenue forecast for 2024 is set at 3.953 billion RMB, with a year-on-year growth of 21.59% [10]. - The net profit attributable to the parent company is expected to reach 644.31 million RMB in 2024, showing a significant year-on-year increase of 259.48% [10]. - The earnings per share (EPS) is projected to be 1.43 RMB for 2024, with a price-to-earnings (P/E) ratio of 25.46 based on the latest diluted share price [10].