集智股份（300553）：重视水下变化，谛听或是破局者

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The report emphasizes the importance of underwater technology and positions the company as a potential leader in this field, particularly in sonar technology [8] - The demand for underwater situational awareness is urgent, and the company is well-positioned to benefit from the acceleration of "deep-sea technology" initiatives [8] - The company's products aim to address industry pain points related to weak signal processing in complex marine environments, with applications in both military and civilian sectors [8] Financial Summary - The company's projected revenue for 2025 is 410 million RMB, with a year-on-year growth rate of 52.46% [7] - The forecasted net profit for 2025 is 53 million RMB, representing a significant increase of 179.77% compared to the previous year [7] - The earnings per share (EPS) for 2025 is estimated at 0.48 RMB, with a projected price-to-earnings (P/E) ratio of 76.28 [7] - The company is expected to achieve a return on equity (ROE) of 6.92% in 2025, increasing to 16.39% by 2027 [7][9]