Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Insights - The company is expected to achieve a revenue growth of 169% year-on-year in 2024, with a focus on expanding into enterprise-level storage solutions in 2025 [1][3] - The company has completed its product line layout, including mobile storage, solid-state drives (SSDs), embedded storage, and memory modules, leading to a significant revenue increase in 2024 [7] - The company has developed nine self-researched main control chips, enhancing its competitive edge in the storage market [7] Financial Data and Profit Forecast - Total revenue is projected to grow from 1,776 million in 2023 to 8,325 million in 2025, reflecting a compound annual growth rate (CAGR) of 74.4% [3][9] - The net profit attributable to the parent company is expected to rise from 25 million in 2023 to 725 million in 2025, with a year-on-year growth rate of 106.8% [3][9] - The earnings per share (EPS) is forecasted to increase from 0.22 in 2023 to 4.48 in 2025 [3][9] - The company's gross margin is expected to stabilize around 15.9% in 2025, with a return on equity (ROE) projected at 22.6% [3][9] Market Data - As of April 25, 2025, the closing price of the company's stock is 128.10, with a market capitalization of 11,226 million [4] - The price-to-earnings (P/E) ratio is projected to decrease from 59 in 2024 to 29 in 2025, indicating a more attractive valuation compared to peers [7][9]
德明利(001309):2024年营收yoy+169%,2025年开拓企业级存储