Investment Rating - The investment rating for the company is "Add" and is maintained [1] Core Views - The company is expected to achieve a net profit attributable to shareholders of 65 million to 90 million yuan in the first half of 2025, representing a year-on-year growth of 46.78% to 103.23% [4][5] - The growth in revenue and decrease in expenses are key factors contributing to the high profit growth in H1 2025 [5] - The company is enhancing its self-research capabilities in domestic aviation materials, which is expected to improve supply chain security and reduce procurement costs [6] - The acceleration in the production and delivery of the C919 aircraft is anticipated to create a significant demand for aviation materials [7][8] - The company has implemented multiple measures to mitigate the impact of tariff shocks, ensuring stable operations [8] - Profit forecasts for the company from 2025 to 2027 are 138.4 million yuan, 169.85 million yuan, and 205.37 million yuan, with corresponding P/E ratios of 27.69, 22.56, and 18.66 [10][11] Company Overview - The latest closing price of the company's stock is 33.28 yuan, with a total market capitalization of 3.8 billion yuan [3] - The company has a debt-to-asset ratio of 13.5% and a P/E ratio of 30.43 [3]
润贝航科（001316）：2025H1业绩高增，国产航材前景广阔