Bestechnic (Shanghai) (688608) 中邮证券·2025-03-10 12:49Investment Rating - The investment rating for the company is "Buy" and is maintained [2][7]. Core Insights - The company is experiencing significant growth in the smart wearable market, with a projected revenue of 3.263 billion yuan in 2024, representing a year-on-year increase of 49.94%. The net profit attributable to the parent company is expected to reach 460 million yuan, a remarkable growth of 271.70% [5][7]. - The company is heavily investing in R&D, with an estimated R&D expenditure of 621 million yuan in 2024, an increase of approximately 12.93% year-on-year. This investment is aimed at advancing low-power SoC technology and enhancing product capabilities [6][7]. Financial Performance Summary - The company’s revenue is projected to grow from 2.176 billion yuan in 2023 to 3.263 billion yuan in 2024, with a growth rate of 46.57% in 2023 and 49.94% in 2024 [8][10]. - The net profit attributable to the parent company is expected to increase from 124 million yuan in 2023 to 460 million yuan in 2024, reflecting a growth rate of 271.70% [8][10]. - The earnings per share (EPS) is forecasted to rise from 1.03 yuan in 2023 to 3.83 yuan in 2024 [8][10].