Investment Rating - The report maintains a "Buy" investment rating for the company [9] Core Insights - The company has exceeded revenue and profit expectations, confirming an accelerated growth trajectory driven by its actuator business, which is expected to benefit from the wave of automotive electrification [4][5] - The company reported a revenue of 826 million yuan for 2024, representing a year-over-year increase of 26.5%, and a net profit of 147 million yuan, up 29.0% year-over-year [3][4] Summary by Sections Financial Performance - In Q4 2024, the company achieved a record quarterly revenue of 272 million yuan, with year-over-year growth of 39.4% and a quarter-over-quarter increase of 32.1% [4] - The net profit and non-recurring net profit for Q4 were 52 million yuan and 43 million yuan, respectively, both marking historical highs with year-over-year increases of 49.6% and 37.8% [4] Business Growth Drivers - The actuator segment is identified as the core growth driver, with significant year-over-year growth of 42.0% in the first half of 2024 [5] - The report highlights the increasing application scenarios for actuators in electric vehicles, such as hidden door handles and electronic locks, which are expected to drive explosive growth in this segment [5] Future Outlook - Revenue forecasts for 2025 and 2026 are projected at 1.1 billion yuan and 1.4 billion yuan, respectively, with earnings per share (EPS) expected to be 1.1 yuan and 1.4 yuan [9] - The company is actively expanding into humanoid robotics and related fields, leveraging its strong foundation in temperature sensor technology [5][8]
开特股份：公司事件点评报告：收入和盈利均超预期，成长飞轮加速得到确认，机器人打开成长天花板-20250303