FIYTA(SZ:000026) NORTHEAST SECURITIES·2025-08-22 03:01Investment Rating - The report assigns a "Buy" rating for the company, with a target price of 23.07 CNY for the next six months [5]. Core Insights - The company aims to become a leader in the Chinese watch industry, leveraging its background in aviation precision technology and materials [1]. - The company is actively expanding its precision technology business and plans to acquire a stake in Chang Kong Gear to enhance its capabilities in precision gears and reducers [2][3]. - Revenue projections for 2025-2027 are estimated at 42.57 billion CNY, 46.17 billion CNY, and 50.42 billion CNY respectively, with net profits expected to be 2.41 billion CNY, 2.67 billion CNY, and 2.97 billion CNY [3]. Summary by Sections Company Overview - The company is a key investment enterprise under AVIC Group, focusing on watch design, development, manufacturing, sales, and maintenance [1]. - It has established a core business layout that includes its own watch brands and comprehensive services for luxury watches [1]. Strategic Developments - The company is committed to developing strategic emerging industries, particularly in precision technology and smart wearable devices [2]. - A cash acquisition of Chang Kong Gear is planned to strengthen its position in the precision gear and reducer market [2][3]. Financial Projections - The company anticipates a revenue increase of 8.03% in 2025, followed by 8.46% and 9.20% in the subsequent years [4]. - The projected net profit growth rates are 9.38% for 2025, 10.94% for 2026, and 11.04% for 2027 [4].