Actions(SH:688049) China Post Securities·2025-10-30 07:14Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Insights - The company has achieved a historical high in quarterly revenue, driven by strong AI technology advancements, with a revenue of 722 million yuan for the first three quarters of 2025, representing a year-on-year growth of 54.74% [4][5] - The net profit attributable to the parent company for the same period reached 152 million yuan, marking a significant year-on-year increase of 113.85% [4][5] - The company is focusing on continuous iteration of chip products and enhancing in-memory computing technology, with R&D investment of 193 million yuan in the first three quarters, up 21.18% year-on-year [6] Financial Performance - The latest closing price of the company's stock is 59.02 yuan, with a total market capitalization of 10.3 billion yuan [3] - The company forecasts revenues of 990 million yuan, 1.32 billion yuan, and 1.76 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 210 million yuan, 300 million yuan, and 400 million yuan for the same years [7][9] - The company’s EBITDA is expected to grow significantly, reaching 432.88 million yuan by 2027 [9] Growth Projections - The company anticipates a revenue growth rate of 51.59% in 2025, followed by 33.50% in 2026 and 33.06% in 2027 [9][11] - The projected earnings per share (EPS) are expected to increase from 0.61 yuan in 2024 to 2.26 yuan in 2027 [9][11]