IKD(SH:600933) GOLDEN SUN SECURITIES·2025-03-31 08:06Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - In 2024, the company achieved a revenue of 6.75 billion, a year-on-year increase of 13.2%, and a net profit attributable to shareholders of 940 million, up 2.9% year-on-year [1] - The fourth quarter of 2024 saw a revenue of 1.77 billion, with year-on-year and quarter-on-quarter increases of 2.9% and 2.7% respectively, while net profit was 200 million, down 37% year-on-year and 32% quarter-on-quarter [1] - The company is expanding its robot components business, establishing a wholly-owned subsidiary for research and sales in this field, and is also developing magnesium alloy die-casting technology for automotive lightweighting and robotics [2][3] Financial Summary - Revenue for 2023 was 5.957 billion, with a projected increase to 6.746 billion in 2024, and further growth expected to 8.107 billion in 2025 [3] - The net profit for 2023 was 926 million, expected to rise to 972 million in 2024, and projected at 1.207 billion in 2025 [3] - The latest diluted EPS for 2024 is 0.95, with projections of 1.21 for 2025 and 1.47 for 2026 [3] - The company’s P/E ratio is projected to decrease from 18.3 in 2024 to 14.4 in 2025, and further to 11.9 in 2026 [3]