Investment Rating - The report assigns a "Buy" investment rating for the company, marking the first coverage of the stock [8]. Core Insights - The company is deepening its layout in AI and data center businesses, indicating a promising future for its data center operations [6]. - The company has established a strong presence in the industrial temperature control sector, with a gradual ramp-up in its energy storage business [5]. - The company has launched various products aimed at different applications, including CNC machine tools, lasers, semiconductors, and energy storage [5]. Summary by Sections Market Performance - The report highlights the company's stock price at 42.18 yuan, with a total market capitalization of 71 billion yuan and a 52-week price range of 23.69 to 55.19 yuan [1]. Business Developments - The company announced the establishment of subsidiaries in Shenzhen and Hangzhou, with the Shenzhen branch commencing operations on March 18 and signing a strategic cooperation agreement with Xingyuan Cloud Intelligence [4][6]. - The company is focusing on providing efficient and stable temperature control solutions for data centers, having introduced plate liquid cooling and immersion liquid cooling products [6]. Financial Forecast - Revenue projections for the company are as follows: 23.8 billion yuan in 2024, 32.6 billion yuan in 2025, and 45.6 billion yuan in 2026, with corresponding EPS of 0.86, 1.40, and 2.13 yuan [7][10]. - The report anticipates a significant growth rate in revenue, with an expected increase of 83.1% in 2023, followed by 28.9% in 2024, and continuing growth in subsequent years [10].
同飞股份（300990）：公司事件点评报告：AI布局不断深化，数据中心业务未来可期