LZJT(SZ:300428) China Post Securities·2025-04-22 12:23Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase in stock price of over 20% compared to the benchmark index within the next six months [8][14]. Core Insights - The company reported a revenue of 27.246 billion yuan for 2024, representing a year-on-year growth of 16.61%. The net profit attributable to shareholders was 707 million yuan, up 16.77% year-on-year [4]. - The aluminum alloy wheel business faced temporary pressure due to the ramp-up of the Mexican factory and currency depreciation, with revenue of 9.235 billion yuan, a growth of 4.46% [5]. - The recycled aluminum segment saw significant growth, with revenue reaching 15.696 billion yuan, a 25.84% increase, driven by the gradual release of capacity from the Thailand project [5]. - The company is expanding its new energy lithium battery materials business, achieving a revenue of 2.063 million yuan, a remarkable growth of 1963% [6]. - The company is continuously innovating in new materials, with applications in robotics, semiconductors, and low-altitude economy sectors [6]. Financial Summary - The projected revenues for 2025, 2026, and 2027 are 30.301 billion yuan, 34.209 billion yuan, and 38.055 billion yuan, respectively, with growth rates of 11.21%, 12.90%, and 11.24% [10]. - The net profit attributable to shareholders is expected to reach 847 million yuan in 2025, 1.035 billion yuan in 2026, and 1.263 billion yuan in 2027, with corresponding growth rates of 19.84%, 22.17%, and 22.01% [10]. - The earnings per share (EPS) are projected to be 1.34 yuan in 2025, 1.63 yuan in 2026, and 1.99 yuan in 2027 [10].