Ingenic(300223) 华鑫证券·2025-02-26 03:27Investment Rating - The report maintains a "Buy" investment rating for the company [7] Core Insights - The company focuses on integrated circuit fields with a rich product matrix, including computing chips, storage chips, and analog/interconnect chips, targeting markets such as automotive, industrial, medical, communication, and consumer sectors [4][5] - The company has seen a decrease in revenue and profitability in the short term, with a projected revenue of 32.01 billion yuan for the first three quarters of 2024, a year-on-year decrease of 6.39%, and a net profit of 3.04 billion yuan, down 17.37% [3] - The company continues to invest in core technology R&D, enhancing its market competitiveness and maintaining a strong technology reserve in various fields, including embedded CPU technology and AI algorithms [5] Financial Forecast - The company forecasts revenues of 45.26 billion yuan, 54.26 billion yuan, and 63.14 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 1.01 yuan, 1.28 yuan, and 1.55 yuan [6][9] - The current stock price corresponds to a PE ratio of 85.0, 66.9, and 55.4 for the years 2024, 2025, and 2026 respectively [6][9]