SHBT(603009) 信达证券·2025-03-02 10:37Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's growth potential and profitability [2][4]. Core Viewpoints - The company achieved a significant revenue growth of 7.6% year-on-year, reaching 2.02 billion yuan in 2024, with a notable increase in net profit by 40.4% to 70 million yuan [2][4]. - The report highlights a dual-engine development strategy, focusing on core automotive technologies while also venturing into the humanoid robotics sector, which is expected to open new growth avenues [4]. - The company plans to invest 1.85 billion yuan in a new research and development base for planetary roller screws, indicating a commitment to innovation and market expansion [4]. Financial Performance Summary - In 2024, the company reported a total revenue of 2.02 billion yuan, with a gross margin of 18.5% and a net margin of 3.67%, reflecting improvements in profitability [4][5]. - The fourth quarter of 2024 saw a decline in profitability, with net profit dropping to 10 million yuan, a decrease of 51.8% year-on-year [2][4]. - Forecasts for 2025 to 2027 predict continued growth in net profit, with estimates of 100 million yuan, 130 million yuan, and 180 million yuan respectively, alongside a gradual increase in earnings per share [4][5].