Sunlord(SZ:002138) China Post Securities·2025-11-07 10:09Investment Rating - The investment rating for the company is "Buy" and is maintained [2][7] Core Insights - The company achieved a record high quarterly revenue, with a total revenue of 5.032 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 19.95%. The net profit attributable to the parent company was 769 million yuan, up 23.23% year-on-year. In Q3 alone, revenue reached 1.808 billion yuan, a year-on-year increase of 20.21% and a quarter-on-quarter increase of 2.51% [5][6] - The traditional markets are steadily recovering while emerging markets are experiencing rapid growth. The company has increased its procurement share with major clients in the consumer electronics sector and is leveraging its first-mover advantage in the automotive electronics market. In the AI server sector, the company has developed various inductive products to meet the growing demands for power and heat dissipation [6] Financial Performance Summary - The company is projected to achieve revenues of 7.126 billion yuan, 8.683 billion yuan, and 10.368 billion yuan for the years 2025, 2026, and 2027, respectively. The net profit attributable to the parent company is expected to be 1.073 billion yuan, 1.351 billion yuan, and 1.662 billion yuan for the same years [7][9] - The revenue growth rates are forecasted at 20.84%, 21.86%, and 19.40% for 2025, 2026, and 2027, respectively. The net profit growth rates are expected to be 28.96%, 25.86%, and 23.05% for the same years [9][10]