Investment Rating - The investment rating for the company is "Outperform" (maintained) [1][2] Core Views - The company is expected to achieve a revenue of 306 million yuan in 2024, representing a year-on-year growth of 17.95%, while the net profit attributable to the parent company is projected to decrease by 5.82% to 36 million yuan [2] - The semiconductor quartz materials and compound quartz products are expected to see an increase in proportion, with the semiconductor business continuing to perform well in 2024 [3] - The company is actively expanding its production capacity and accelerating certification processes, with new production facilities expected to be operational by 2025 [4] Financial Summary - Revenue is projected to grow from 260 million yuan in 2023 to 306 million yuan in 2024, and further to 359 million yuan in 2025, with a compound annual growth rate (CAGR) of approximately 17.3% from 2024 to 2026 [5][10] - The gross profit margin is expected to improve from 39.4% in 2024 to 42.7% in 2026, while the net profit margin is projected to increase from 11.7% in 2024 to 18.7% in 2026 [11] - Earnings per share (EPS) are forecasted to rise from 0.48 yuan in 2024 to 1.05 yuan in 2026, indicating a positive trend in profitability [5][10]
凯德石英：北交所信息更新：子公司产能建设+认证加速，2024年预计营收+18%-20250305