GCH TECHNOLOGY CO.(688625) Haitong Securities International·2025-05-12 07:09Investment Rating - The report maintains an "Outperform" rating for the company, with a target price of RMB 57.92, representing a potential upside of 19% from the current price of RMB 49.40 [4][9]. Core Insights - The company has shown year-on-year and quarter-on-quarter growth in its Q1 2025 performance, with revenue reaching RMB 220 million, up 14.97% YoY, and net profit attributable to shareholders at RMB 71 million, up 15.82% YoY [10]. - The nucleating agent industry is expected to experience significant growth, with the global market projected to reach approximately USD 1.2 billion by 2030, driven by increasing demand for high-performance resin materials [10]. Financial Summary - For 2024, the company achieved revenue of RMB 882 million, a 10.31% increase YoY, and a net profit of RMB 250 million, up 10.68% YoY [10]. - The company’s earnings per share (EPS) for 2025 is projected to be RMB 2.32, with further growth expected in subsequent years, reaching RMB 3.36 by 2027 [4][9]. - The company has maintained a strong return on equity (ROE), projected to be 19.9% in 2025, with a steady increase in net profit margins [6][10].