OPTOWIDE(SH:688195) Haitong Securities·2025-03-30 11:46Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The report highlights that the company has experienced significant growth in its optical communication and emerging business sectors, with a projected revenue increase of 31% year-on-year for 2024 [8] - The company has raised its share repurchase price limit to 65.00 CNY per share, reflecting confidence in its long-term development [8] - The acquisition of XunT Technology is progressing smoothly, which is expected to enhance the company's product offerings in the optical module market [8] Financial Data and Forecasts - Revenue for 2023 is reported at 340 million CNY, with projections of 445 million CNY for 2024, 580 million CNY for 2025, 735 million CNY for 2026, and 897 million CNY for 2027, indicating a compound annual growth rate (CAGR) of approximately 30% [7][8] - Net profit is expected to rise from 42 million CNY in 2023 to 69 million CNY in 2024, reaching 96 million CNY in 2025, 132 million CNY in 2026, and 167 million CNY in 2027, reflecting a strong growth trajectory [7][8] - The report anticipates an increase in the company's earnings per share (EPS) from 0.32 CNY in 2023 to 0.54 CNY in 2024, and further to 0.74 CNY in 2025 [7][8] Business Segmentation and Growth - The precision optical components segment is projected to generate revenue of 3.55 billion CNY in 2024, with a year-on-year growth of 25.45% [9] - The fiber optic devices segment is expected to reach 760.6 million CNY in revenue for 2024, growing by 34.61% year-on-year [9] - The optical testing instruments segment is anticipated to generate 130.7 million CNY in revenue, with a gross margin of 25.21% [9] Market Performance - The company's stock closed at 38.79 CNY, with a 52-week price range of 20.33 CNY to 52.13 CNY [2] - The report indicates a relative performance comparison against the CSI 300 index, showing a decline of 20.7% over the past month [4]