Investment Rating - The report initiates coverage with a "Buy" rating for the company [2][7] Core Insights - The company has a complete Wi-Fi FEM product line, including Wi-Fi 5, Wi-Fi 6/6E, and Wi-Fi 7, with multiple products certified by major international chip manufacturers [5] - Wi-Fi 7 products are expected to drive revenue growth, with significant customer demand from companies like TP Link, ZTE, and Xiaomi [5] - The company plans to increase its stake in Shenzhen Chip Zhongxin Technology to 51%, targeting AI edge applications and expanding into smart IoT markets [6] Financial Projections - Revenue forecasts for 2024, 2025, and 2026 are projected at 530 million, 850 million, and 980 million yuan respectively, with net profits expected to be -71.43 million, 6 million, and 24 million yuan [7][9] - The company is expected to see a revenue growth rate of 26.64% in 2024 and 61.78% in 2025 [9] - The EBITDA is projected to improve from -54.57 million yuan in 2024 to 26.98 million yuan in 2026 [9]
康希通信：WIFI 7 PA加速起量，智能控制模块下游整合-20250319