Hygon Information Technology (688041) 西部证券·2025-03-09 03:27Investment Rating - The investment rating for the company is "Buy" [5][12]. Core Views - The company achieved significant revenue growth in 2024, with total revenue reaching 9.162 billion, a year-on-year increase of 52%, and a net profit attributable to shareholders of 1.931 billion, up 53% [1][5]. - The company has proactively increased strategic inventory to meet downstream demand, ending 2024 with inventory valued at 5.425 billion, a 405% increase year-on-year [1]. - The company is heavily investing in research and development, with R&D expenses amounting to 2.910 billion in 2024, a 46% increase from the previous year [1][2]. Financial Summary - In 2024, the company reported revenue of 91.62 billion, with a growth rate of 52.4% compared to 2023 [3]. - The net profit for 2024 was 19.31 billion, reflecting a growth rate of 52.9% [3]. - The company expects revenue to grow to 132.78 billion, 179.19 billion, and 232.87 billion in 2025, 2026, and 2027, respectively, with growth rates of 45%, 35%, and 30% [2][3].