Investment Rating - The report maintains an "Outperform" rating for the company [6] Core Views - The company expects a significant increase in net profit for 2024, projected between 42 million to 46 million yuan, representing a year-on-year growth of 21.12% to 32.65% [3] - The anticipated profit growth is attributed to the relocation to a new base that enhances hardware conditions, cost reduction efforts, and increased interest and exchange gains from US dollar deposits [3] - The company has been awarded 13 domestic and international invention patents and recognized as a national intellectual property advantage enterprise, among other accolades [3] - The integration of lighting systems with smart home systems is expected to drive growth, with the smart home market projected to reach 800 billion yuan by 2026, potentially exceeding 1 trillion yuan by 2027 [4] Financial Summary - The company's revenue is expected to grow from 175 million yuan in 2023 to 215 million yuan in 2024, reflecting a year-on-year increase of 22.5% [5] - The projected net profit for 2024 is 44 million yuan, up from 35 million yuan in 2023, indicating a growth rate of 26.8% [5] - The gross margin is expected to be 45.8% in 2024, slightly improving from 45.0% in 2023 [5] - Earnings per share (EPS) are forecasted to increase from 0.89 yuan in 2023 to 1.13 yuan in 2024 [5][8] - The price-to-earnings (P/E) ratio is projected to decrease from 32.6 in 2023 to 25.7 in 2024, indicating a more attractive valuation [5][9]
雷特科技：北交所信息更新：扩展照明系统与智能家居系统融合，2024年净利润预增21%～33%