BOOMY(SH:688290) Huaxin Securities·2025-04-22 15:37Investment Rating - The report maintains a "Buy" investment rating for the company [8] Core Viewpoints - The nuclear energy industry in China is entering a new phase of large-scale, independent, and high-quality development, becoming a core support for achieving carbon neutrality goals. The operational nuclear power units in China reached 57 by the end of 2024, with a total installed capacity of 60.83 million kilowatts, making it the largest globally [2][3] - The company, as a leader in nuclear industrial intelligent equipment, has established differentiated competitive barriers through deep technological accumulation and a full industry chain layout. It has made breakthroughs in key technologies and is enhancing its delivery capabilities through new operational facilities [3][6] - The dual engines of military and nuclear medicine are driving performance elasticity, with the military budget growing consistently and the company leveraging its technology transfer capabilities to enter new markets [7] Summary by Sections Financial Performance - In 2024, the company achieved revenue of 276 million yuan, a year-on-year increase of 7.94%, and a net profit of 38 million yuan, up 8.40% year-on-year. The forecast for 2025-2027 projects revenues of 611 million, 752 million, and 875 million yuan respectively, with significant growth rates [8][10] Industry Outlook - The nuclear technology application sector is expected to grow from 240 billion yuan in 2024 to 400 billion yuan by 2026, with a compound annual growth rate (CAGR) of 15%-20%. The special robot market is projected to exceed 24 billion yuan in 2024, with a CAGR of 29.36% over the past five years [2][3] Technological and Operational Advantages - The company has made significant advancements in technology, including remote operation and explosion-proof equipment. New operational facilities are set to enhance its manufacturing capabilities and support order fulfillment [3][6] Strategic Collaborations - The company has established deep partnerships with leading organizations such as China National Nuclear Corporation and the Chinese Academy of Sciences, focusing on cutting-edge fields like nuclear fusion and intelligent robotics [6][7]