Sharetronic(SZ:300857) CAITONG SECURITIES·2025-10-31 05:44Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a significant increase in revenue and net profit for the third quarter of 2025, with revenue reaching 8.33 billion yuan, a year-on-year growth of 54.43%, and net profit of 698 million yuan, a year-on-year increase of 25.30% [7] - The company is actively increasing its investment in computing power, which is expected to drive sustained high growth in performance [7] - The company has submitted an application for listing on the Hong Kong Stock Exchange to enhance its overseas financing capabilities [7] Financial Performance Summary - For the fiscal year 2023, the company reported revenue of 4.66 billion yuan, with a projected revenue growth rate of 47.95% for 2023 [6] - The projected revenue for 2025 is 11.93 billion yuan, with a net profit of 1.11 billion yuan, reflecting a net profit growth rate of 60.29% [6] - The company's total assets reached 18.19 billion yuan by the end of the third quarter of 2025, a 149.08% increase from the beginning of the year [7] Earnings Forecast - The company is expected to achieve revenues of 11.93 billion yuan, 17.97 billion yuan, and 23.10 billion yuan for the years 2025, 2026, and 2027 respectively [6] - The projected net profits for the same years are 1.11 billion yuan, 2.13 billion yuan, and 2.89 billion yuan [6] - The earnings per share (EPS) is forecasted to be 3.20 yuan in 2025, increasing to 8.36 yuan by 2027 [6]