Chipown(SH:688508) China Post Securities·2025-12-22 10:15Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company has recently launched 12 significant new products in the AI computing energy sector, completing its strategic layout for server power solutions [4][5] - The company achieved a revenue of 877 million yuan in the first three quarters of 2025, representing a year-on-year growth of 24.05%, with a net profit of 178 million yuan, up 130.25% year-on-year [6] - Future revenue projections are 1.2 billion yuan for 2025, 1.465 billion yuan for 2026, and 1.756 billion yuan for 2027, with net profits expected to be 222 million yuan, 226 million yuan, and 273 million yuan respectively [7][9] Company Overview - The latest closing price of the company's stock is 57.88 yuan, with a total market capitalization of 7.6 billion yuan [3] - The company has a total share capital of 1.31 billion shares and a debt-to-asset ratio of 15.7% [3] - The company is focused on developing a complete range of power solutions for servers, including various types of chips for different power stages [5]