雷赛智能（002979）：运控领域领军企业，灵巧手方案迭代迅速

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's performance and growth potential [1]. Core Insights - The company is a leading player in the motion control field, with rapid iterations of its dexterous hand solutions [1]. - In 2024, the company achieved a revenue of 1.584 billion yuan, a year-on-year increase of 12%, and a net profit attributable to the parent company of 200 million yuan, up 45% year-on-year [3]. - The servo system business continues to break through, with sales revenue of 709 million yuan in 2024, representing a 33% year-on-year growth [3]. - The company is focusing on dexterous hand solutions in line with the trend of humanoid robots, establishing subsidiaries to enhance its product offerings [3]. - Profit forecasts indicate net profits of 268 million yuan, 345 million yuan, and 438 million yuan for 2025, 2026, and 2027 respectively, with growth rates of 34%, 29%, and 27% [3]. Financial Summary - Total revenue is projected to grow from 1.415 billion yuan in 2023 to 2.476 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 21.1% [2]. - The net profit attributable to the parent company is expected to increase from 139 million yuan in 2023 to 438 million yuan in 2027, reflecting a significant recovery and growth trajectory [2]. - The gross margin is expected to remain stable around 37.3% to 38.4% over the forecast period [2]. - The company's return on equity (ROE) is projected to rise from 10.5% in 2023 to 22.9% in 2027, indicating improved profitability [2]. - The earnings per share (EPS) is forecasted to grow from 0.45 yuan in 2023 to 1.42 yuan in 2027 [2].