EAGLERISE(CHINA)(SZ:002922) CMS·2025-11-03 10:02Investment Rating - The report maintains a "Strong Buy" rating for the company [2] Core Insights - The company's revenue for the first three quarters of 2025 reached 3.808 billion yuan, a year-on-year increase of 17.32%, while the net profit attributable to shareholders decreased by 15.14% to 178 million yuan [1] - The company is expanding its data center product line and has opened a smart transformer manufacturing plant in the U.S., which is expected to benefit from strong local demand [6] - The forecast for net profit attributable to shareholders in 2026 is 446 million yuan, with a current market valuation corresponding to a PE ratio of 24 times [6] Financial Data and Valuation - Total revenue projections for 2023 to 2027 are as follows: 3.630 billion yuan (2023), 4.639 billion yuan (2024), 5.752 billion yuan (2025E), 7.133 billion yuan (2026E), and 8.702 billion yuan (2027E), with year-on-year growth rates of 29%, 28%, 24%, 24%, and 22% respectively [2][18] - The projected net profit for the same years is: 209 million yuan (2023), 293 million yuan (2024), 271 million yuan (2025E), 446 million yuan (2026E), and 597 million yuan (2027E), with growth rates of 9%, 40%, -7%, 64%, and 34% respectively [2][18] - Key financial ratios include a PE ratio of 51.6 for 2023, decreasing to 18.1 by 2027, and a PB ratio of 3.5 in 2023, decreasing to 2.6 by 2027 [2][19] Price Performance - The company's stock has shown strong absolute performance over the past 1 month (20%), 6 months (72%), and 12 months (59%) [4]