OLYMPIC(SH:603920) Bank of China Securities·2025-04-10 08:36Investment Rating - The report maintains an "Accumulate" rating for the company [1][5] Core Views - The company is expected to achieve steady revenue and profit growth in 2024, with a projected revenue of RMB 50.22 billion, representing a year-on-year increase of 11.1%, and a net profit of RMB 6.75 billion, reflecting a year-on-year increase of 36.2% [8] - The company is benefiting from a continuous optimization of its product structure and a sufficient order backlog, which supports production increases [5][8] - The report highlights the company's focus on emerging sectors such as new energy vehicles, artificial intelligence, and humanoid robots, which are expected to drive future growth [8] Financial Projections - Revenue projections for 2024, 2025, and 2026 are RMB 50.22 billion, RMB 62.51 billion, and RMB 75.01 billion, respectively [5][7] - Expected net profits for the same years are RMB 6.75 billion, RMB 8.52 billion, and RMB 10.47 billion, with corresponding EPS of RMB 0.94, RMB 1.18, and RMB 1.45 [5][7] - The report anticipates a PE ratio of 25.2 for 2024, 20.0 for 2025, and 16.2 for 2026, indicating a favorable valuation trend [5][7] Shareholder Information - The company has a total market capitalization of approximately RMB 17,015.16 million, with major shareholder Guangdong Shunde Holdings Group Co., Ltd. holding 23.71% [3]