Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of its stock [2][10]. Core Insights - The company, Haojiang Intelligent, specializes in the research and production of smart linear drive products, with applications in smart homes, smart medical care, smart offices, and industrial transmission [5][8]. - In 2024, the company achieved a revenue of 828 million yuan, representing a year-on-year growth of 15.74%, while net profit slightly decreased by 0.58% to 47 million yuan [6]. - The company's revenue for Q1 2025 was 211 million yuan, showing a year-on-year increase of 6.7%, with net profit rising by 28.98% to 16 million yuan [6]. - The smart home and smart medical care sectors accounted for 83.59% of the company's total revenue in 2024, highlighting their importance as core business pillars [8]. Summary by Sections Company Overview - Haojiang Intelligent has established a comprehensive service chain from sales consultation to product customization and client NPI (New Product Introduction) services, serving over 300 clients [7]. Product and Market Performance - The company’s smart home products integrate with various smart home systems, enhancing user experience and product stickiness [7]. - In the smart medical care sector, the company's products are crucial for the automation and intelligence of medical devices, improving the quality of life for patients and efficiency for healthcare workers [8]. Financial Performance - The company forecasts revenues of 1.006 billion yuan in 2025, with a projected growth rate of 21.4% [12]. - The expected earnings per share (EPS) for 2025 is 0.60 yuan, with a corresponding price-to-earnings (P/E) ratio of 33.9 [10][12]. Future Outlook - The company is expanding its overseas presence, with a $20 million investment in a production base in Thailand, expected to commence operations in the second half of 2025 [9]. - The company aims to leverage its technological strengths in various industrial applications, including drone component supply [9].
豪江智能：公司动态研究报告：智能驱动多领域覆盖，全球布局助推发展-20250610