Sharetronic(SZ:300857) GOLDEN SUN SECURITIES·2025-11-05 01:54Investment Rating - The report maintains a "Buy" rating for the company, indicating strong growth potential in its business segments [3][5]. Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, with revenue reaching 8.33 billion yuan, a year-on-year growth of 54.43%, and a net profit of 698 million yuan, up 25.3% year-on-year [1]. - The company is actively expanding its cloud computing and robotics business, with a notable increase in contract liabilities and inventory, reflecting strong downstream demand [1][2]. - The company has made substantial investments in server procurement, totaling 12.2 billion yuan this year, which is expected to contribute significantly to future revenue growth [2]. - The collaboration with NVIDIA aims to develop a robotics inference platform and embodied intelligence technology, positioning the company for future growth in artificial intelligence and robotics [2]. - The company is preparing for an overseas listing in Hong Kong to enhance its international strategy and financing capabilities [2]. Financial Summary - The company forecasts revenue growth from 11.68 billion yuan in 2025 to 22.67 billion yuan in 2027, with net profit expected to rise from 1.15 billion yuan to 2.68 billion yuan during the same period [3][4]. - Key financial metrics include a projected EPS of 3.31 yuan in 2025, increasing to 7.73 yuan by 2027, and a net asset return rate expected to reach 32.1% by 2027 [4][5]. - The company's financial ratios indicate a strong growth trajectory, with a projected revenue growth rate of 57.6% in 2025 and a net profit growth rate of 65.6% [4][9].