JTGROUP(SH:601609) Shanghai Aijian Securities·2025-08-19 04:15Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company is experiencing a transition driven by high-end products, which is expected to enhance profitability significantly [5] - The company has implemented a dual upgrade strategy focusing on products and customers to meet the demands of emerging industries such as new energy vehicles and AI [5] - The company is expanding its international presence and green transformation initiatives, with overseas revenue increasing by 21.86% [5] Financial Data and Profit Forecast - Total revenue is projected to grow from 110,500 million in 2023 to 153,585 million by 2027, with a compound annual growth rate (CAGR) of approximately 7.1% [4][6] - The net profit attributable to shareholders is expected to rise from 527 million in 2023 to 1,186 million by 2027, reflecting a significant growth rate of 53.9% in 2025 [4][6] - Earnings per share (EPS) is forecasted to increase from 0.31 in 2023 to 0.80 in 2027, with corresponding price-to-earnings (PE) ratios decreasing from 35.2 to 15.7 [4][6] Operational Highlights - In the first half of 2025, the company achieved a revenue of 592.94 billion, a year-on-year increase of 2.46%, and a net profit of 3.73 billion, up 203.86% [5] - The company has successfully entered the supply chains of major clients such as BYD, Geely, and CATL, particularly in the high-demand new energy vehicle sector [5] - The production of copper-based products and rare earth permanent magnets has shown significant growth, with the latter achieving a revenue increase of 37.76% [5] Strategic Initiatives - The company is focusing on the AI computing industry, particularly in data center cooling solutions, with a 72% increase in sales of copper cooling products [5] - The company is enhancing its overseas production capabilities, with projects in Thailand and Vietnam progressing well [5] - The sales of recycled copper products have increased by 61%, aligning with global trends towards sustainable sourcing [5]