Autel(SH:688208) Soochow Securities·2025-10-27 12:26Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's performance in Q3 2025 met market expectations, with total revenue reaching 3.5 billion yuan, a year-on-year increase of 24.7% [8] - The company is focusing on "going global + AI" as a dual growth driver, with significant advancements in AI applications across various sectors [8] - The company has made rapid progress in overseas charging pile projects, particularly in Australia and the United States, indicating strong growth potential in this segment [8] - AI is expected to enhance operational efficiency and decision-making across core business areas, contributing to sustained growth [8] - The company forecasts net profits of 796.86 million yuan for 2025, with a projected P/E ratio of 32.52 at the closing price on October 27, 2025 [1][8] Financial Projections - Total revenue is projected to grow from 3.25 billion yuan in 2023 to 4.89 billion yuan in 2025, reflecting a compound annual growth rate (CAGR) of 24.57% [1] - Net profit is expected to increase from 179.23 million yuan in 2023 to 796.86 million yuan in 2025, representing a CAGR of 24.33% [1] - The earnings per share (EPS) is forecasted to rise from 0.27 yuan in 2023 to 1.19 yuan in 2025 [1]