Shenzhen SEICHI Technologies (688627) 东兴证券·2025-02-18 07:49Investment Rating - The report maintains a "Recommended" rating for the company [5][4]. Core Insights - The company has launched a restricted stock incentive plan, demonstrating confidence in long-term development, with a target revenue growth rate of no less than 60% for 2025 and 500% for its semiconductor business [2][3]. - A significant contract for semiconductor testing equipment worth RMB 322 million has been signed, which is expected to positively impact the company's performance in 2025 and 2026 [3][4]. - The company has made substantial progress in self-developed semiconductor testing machines, enhancing its product line and market competitiveness [3]. Financial Projections - The company's projected earnings per share (EPS) for 2024, 2025, and 2026 are expected to be RMB 1.48, RMB 2.31, and RMB 3.08 respectively [4][13]. - Revenue forecasts indicate a growth trajectory with expected revenues of RMB 915.87 million in 2024, RMB 1,288.04 million in 2025, and RMB 1,756.53 million in 2026, reflecting growth rates of 41.22%, 40.63%, and 36.37% respectively [13][4].