Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1][3] Core Views - The company is expected to benefit from the ongoing positive trend in the consumer electronics industry, with a projected year-on-year increase of 29% in net profit excluding non-recurring items for 2024 [3][4] - The company has adjusted its profit forecasts for 2024-2026, expecting net profits of 0.58 billion, 0.65 billion, and 0.73 billion respectively, reflecting an increase from previous estimates [3][4] Financial Summary - Revenue for 2024 is projected at 1.59 billion, a year-on-year increase of 36.63%, with net profit expected to reach 5795 million, up 28.17% [3][6] - The company’s gross margin is expected to remain stable around 55.6% to 55.9% over the next few years, with net profit margins around 36.7% to 36.3% [6][12] - Earnings per share (EPS) are projected to increase from 0.46 in 2024 to 0.57 in 2026, with corresponding price-to-earnings (P/E) ratios decreasing from 44.7 to 35.7 [3][6] Industry Insights - The consumer electronics sector is anticipated to continue its growth trajectory, with smartphone shipments in China expected to reach 314 million units in 2024, a year-on-year increase of 8.7% [4][5] - The company has established long-term partnerships with major smartphone brands such as Huawei, OPPO, and Xiaomi, positioning itself as a key supplier in the market [5][6]
朗鸿科技：北交所信息更新：消费电子持续向好，2024年扣非净利润同比+29%-20250318