JPT(SH:688025) EBSCN·2025-06-18 09:13Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding the market benchmark by more than 15% over the next 6-12 months [3][5][13]. Core Insights - The company has experienced a significant increase in new orders, with Q1 2025 new orders reaching 585 million yuan, a year-on-year growth of 89.38%. This growth is driven by the increasing domestic demand for laser technology across various industries [1]. - Revenue for Q1 2025 was reported at 343 million yuan, reflecting a year-on-year increase of 34.07%, while net profit attributable to the parent company was 36 million yuan, up 37.11% year-on-year [1]. - The company is actively expanding its product offerings in the optical module testing sector, with a strong order reserve and rapid revenue growth from mobile camera testing equipment [1][2]. - In the renewable energy sector, the company successfully delivered large quantities of 500W MOPA pulsed laser products, enhancing processing efficiency compared to previous models [2]. - The passive components industry is showing signs of recovery, and the company is launching new products to meet the growing demand [2]. Financial Forecasts - The company’s projected revenue for 2025 is 1.762 billion yuan, with a growth rate of 21.22%. The net profit attributable to the parent company is expected to reach 177 million yuan, reflecting a growth rate of 33.43% [4][9]. - The earnings per share (EPS) is forecasted to be 1.86 yuan in 2025, with a price-to-earnings (P/E) ratio of 36 [4][12]. - The company’s return on equity (ROE) is projected to increase to 8.15% by 2025, indicating improved profitability [11].