Investment Rating - The report initiates coverage with a "Buy" investment rating for the company [9] Core Insights - The company achieved a revenue of 726 million yuan in the first three quarters of 2024, representing a year-on-year increase of 95.51%, with a net profit attributable to shareholders of 60 million yuan, up 4.98% year-on-year. The third quarter alone saw a revenue of 288 million yuan, marking a significant growth of 137.70% year-on-year, driven by the expansion of data centers and computing networks, as well as contributions from newly acquired subsidiaries [3][4] - The company has established a strong foothold in the gaming console components market, benefiting from the booming gaming industry and the maturation of VR/AR technologies. It has developed various precision component products and has secured stable partnerships with major clients such as Sony and a well-known Japanese company [4] - The optical fiber connector business is rapidly growing and is expected to be a key driver of the company's performance. The company continues to diversify its product offerings in the optical communication sector, with its subsidiary being a pioneer in the development of MT/MPO connector technology. The company is also expanding its operations in Vietnam, which began in the second half of 2023 [5] Financial Projections - The company is projected to generate revenues of 717 million yuan, 969 million yuan, and 1.34 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 0.67 yuan, 0.84 yuan, and 1.20 yuan. The current stock price corresponds to P/E ratios of 113, 91, and 64 for the same years [6][11]
致尚科技：公司动态研究报告：前三季度营收同比高增，光纤连接器业务快速增长-20250223