Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company is expected to achieve a net profit of 147 million yuan in 2024, representing a year-on-year increase of 28.99%. This growth is attributed to the rising demand for the company's products due to the increase in automobile production and sales in China, as well as the growing penetration rate of new energy vehicles [2][3] - The revenue forecast for 2024 is set at 826 million yuan, reflecting a growth of 26.49% [2] - The company has adjusted its fundraising project to focus on the production of automotive actuators, which is expected to yield an annual output of 13 million units once fully operational [3] - The company has established a strong customer base, including major automotive manufacturers and system suppliers, which enhances its market position and growth potential [4] Financial Summary and Valuation Indicators - The projected financial performance for the company from 2022 to 2026 is as follows: - Revenue is expected to grow from 515 million yuan in 2022 to 1.188 billion yuan in 2026, with a compound annual growth rate (CAGR) of approximately 22.2% [8] - Net profit is projected to increase from 77 million yuan in 2022 to 209 million yuan in 2026, with a CAGR of approximately 24.5% [8] - The gross margin is expected to remain stable around 32% over the forecast period [9] - The price-to-earnings (P/E) ratio is projected to decrease from 59.3 in 2022 to 21.9 in 2026, indicating an improving valuation as earnings grow [8]
开特股份：北交所信息更新：传感器执行器产能扩张持续进行，预计2024归母净利润+28.99%-20250307