Fortune Tech(300493) 天风证券·2025-05-03 03:23Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [5][8]. Core Insights - The company achieved a revenue of 2.596 billion yuan in 2024, representing a year-on-year increase of 20.16%. The net profit attributable to the parent company was 36.37 million yuan, up 2.07% year-on-year [1][2]. - The semiconductor industry is returning to a growth trajectory, and the company is well-positioned to leverage new opportunities arising from innovative technologies [2]. - The company is focusing on AIoT smart modules, automotive electronics, and audio sensors, establishing a differentiated competitive advantage in these areas [2]. - The company has invested in the National Intelligent Sensor Innovation Center to enhance its AIoT chip business and edge computing capabilities [3]. - Custom and self-developed chip sales reached 176 million yuan in 2024, marking a 42.22% increase year-on-year, showcasing significant improvements in R&D and design capabilities [4]. Financial Summary - The company forecasts a net profit of 153.61 million yuan for 2025, with a growth rate of 322.37% compared to 2024 [6]. - Revenue is projected to grow from 2.596 billion yuan in 2024 to 3.944 billion yuan in 2027, with a compound annual growth rate of approximately 25% [6]. - The company's earnings per share (EPS) is expected to increase from 0.07 yuan in 2024 to 0.55 yuan in 2027 [6].