瑞鹄模具：设立机器人子公司，打造成长新动能

Investment Rating - The report maintains a "Buy" rating for the company [3][5]. Core Views - The company has established a wholly-owned subsidiary, Wuhu Ruixiang Intelligent Robot Co., Ltd., with an investment of 20 million yuan, aiming to tap into the robotics sector as a new growth driver [1]. - The lightweight layout is progressing smoothly, with the company's partnership with Chery to expand its lightweight automotive components business, which is expected to enhance profit margins through scale effects [2]. - The demand for equipment manufacturing is increasing due to the accelerated iteration of new vehicle models, with the company holding orders worth 3.93 billion yuan in the automotive manufacturing equipment sector, a 15% increase from the previous year [2]. Financial Summary - The company's projected net profits for 2024, 2025, and 2026 are 349 million yuan, 445 million yuan, and 559 million yuan, respectively, with corresponding P/E ratios of 22.8, 17.9, and 14.3 [3]. - Revenue is expected to grow from 1.87 billion yuan in 2023 to 2.55 billion yuan in 2024, reflecting a year-on-year growth rate of 35.8% [4]. - The company's net profit margin is projected to be 13.7% in 2024, with a return on equity (ROE) of 16.4% [4].