Investment Rating - The report maintains a rating of "Increase" for the company, indicating an expected relative performance increase of 5% to 15% over the next 6 to 12 months compared to the benchmark index [4][8]. Core Insights - The company has demonstrated stable growth in performance, with a projected revenue of 1.054 billion yuan for 2024, reflecting an 11.42% year-on-year increase. The net profit attributable to shareholders is expected to reach 164 million yuan, a 32.09% increase year-on-year [6]. - The company has signed a significant order worth 235 million yuan for roller cutting integrated machines, indicating continued growth potential in its main business. The lithium battery roller press equipment market in China is projected to grow to 6 billion yuan by 2025, with a CAGR of 39.05% from 2019 to 2025 [6]. - The company is actively expanding into advanced technologies such as dry process electrodes and solid-state batteries, which are expected to open up long-term growth opportunities. The solid-state battery market is anticipated to reach approximately 20 billion yuan by 2030 [6]. Financial Performance Summary - The company reported a revenue of 946 million yuan in 2023, with a projected increase to 1,054 million yuan in 2024, representing a growth rate of 11% year-on-year. The net profit for 2023 was 124 million yuan, expected to rise to 163 million yuan in 2024, marking a 32% increase [4][6]. - The earnings per share (EPS) for 2024 is projected to be 1.75 yuan, with a net asset return rate of 16% [4][6]. - The company’s financial ratios indicate a stable growth trajectory, with a projected P/E ratio of 42.5 for 2024, decreasing to 31.4 by 2026 [4][6].
纳科诺尔（832522）：2024年业绩快报点评报告：公司业绩稳定增长，干法电极+固态电池布局可期