柏楚电子（688188）：重磅亮相埃森焊接与切割展会，智能焊接再次加速

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company showcased multiple new technologies and solutions at the 28th Beijing Essen Welding and Cutting Exhibition, indicating a strong focus on innovation and market presence [7] - The company is expected to maintain rapid growth in its core laser cutting business driven by increased penetration, power upgrades, and overseas exports [7] - The company is projected to achieve significant net profit growth over the next few years, with estimates of 1.11 billion, 1.42 billion, and 1.76 billion yuan for 2025, 2026, and 2027 respectively [7] Financial Data and Profit Forecast - Total revenue is projected to grow from 1,735 million yuan in 2024 to 3,363 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 23.5% [6][8] - The net profit attributable to the parent company is expected to increase from 883 million yuan in 2024 to 1,760 million yuan in 2027, reflecting a CAGR of around 24.3% [6][8] - The company's gross margin is forecasted to remain stable around 79% over the next few years, indicating strong operational efficiency [6]