Shenzhen Farben Information Technology (SZ:300925) Tai Ping Yang·2025-05-02 08:23Investment Rating - The report maintains a "Buy" rating for the company [1][6]. Core Insights - The company is experiencing rapid growth in its automotive business, with a significant focus on both HarmonyOS and AI technologies [1][5]. - In 2024, the company achieved a revenue of 4.321 billion yuan, representing a year-on-year growth of 11.22%, with a net profit of 131 million yuan, up 15.90% [4][5]. - The automotive business alone saw a remarkable growth of 101.23%, reaching 390 million yuan [5]. Financial Performance Summary - Revenue projections for 2025-2027 are 4.9 billion yuan, 5.7 billion yuan, and 6.7 billion yuan, with respective growth rates of 13.41%, 16.33%, and 17.54% [8]. - The diluted earnings per share (EPS) are forecasted to be 0.34 yuan in 2025, 0.40 yuan in 2026, and 0.52 yuan in 2027 [8][6]. - The company has established a team of over 1,000 certified HarmonyOS developers and over 200 sales personnel, achieving significant breakthroughs in various industries [5][6]. Business Segment Performance - Internet revenue reached 1.499 billion yuan, growing by 4.61%, while financial revenue was 1.238 billion yuan, up 7.91% [5]. - The energy business generated 335 million yuan, reflecting a growth of 47.42%, and the software business saw a 65.90% increase, reaching 112 million yuan [5]. - The company is actively participating in the domestic programming language ecosystem and has developed several AI applications through its FarAI platform [5].