Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [5][15]. Core Insights - The company, Haopeng Technology, is positioned as a leading battery provider with significant flexibility in AI applications, showing a strong upward trend in performance [4][5]. - Recent financial results indicate a recovery, with 2024 revenue reaching 5.108 billion yuan, a year-on-year increase of 12.50%, and a net profit of 91 million yuan, up 81.43% [3][4]. - The first quarter of 2025 saw revenue of 1.225 billion yuan, reflecting a 23.27% year-on-year growth, and a net profit of 32 million yuan, a remarkable increase of 903.92% [3][4]. Summary by Sections Company Overview - Haopeng Technology focuses on AI application battery services and has adopted an "All in AI" strategy to expand its market presence [4]. - The company has established a global operational structure with a headquarters and multiple production bases, enhancing its global service capabilities [5]. Financial Performance - The company forecasts net profits of 247 million yuan, 362 million yuan, and 479 million yuan for 2025, 2026, and 2027 respectively, indicating a strong recovery and growth potential [5][7]. - The projected revenue growth rates for the next few years are 17.08% in 2025, 20.72% in 2026, and 19.03% in 2027 [7][11]. Market Position and Strategy - The company is well-positioned to benefit from the rising demand in both consumer electronics and AI applications, particularly in high-energy density batteries for AI hardware [4][5]. - Haopeng Technology is targeting high-value markets and has focused its R&D on addressing the technical challenges of AI devices, such as high energy consumption and heat dissipation [4].
豪鹏科技点评：AI应用弹性大的优质电池龙头