BOSHI(SZ:002698) Yin He Zheng Quan·2025-12-30 14:36Investment Rating - The report maintains a "Recommended" investment rating for the company [3]. Core Insights - The company has released a video showcasing the testing of humanoid robots developed in collaboration with Harbin Institute of Technology, highlighting significant advancements in key components and full-stack self-research capabilities [6]. - The company is recognized as a hidden champion in the field of intelligent equipment for solid material handling, primarily serving the petrochemical industry, with a record high order backlog of 6.322 billion yuan, which is expected to support revenue for the next two years [6]. - The projected net profit for the company from 2025 to 2027 is estimated to be 572 million yuan, 645 million yuan, and 720 million yuan, respectively, with corresponding price-to-earnings (PE) ratios of 29, 26, and 23 [6]. Financial Forecast Summary - Revenue Forecast: - 2024: 2,863 million yuan - 2025: 2,850 million yuan - 2026: 3,100 million yuan - 2027: 3,500 million yuan - Net Profit Forecast: - 2024: 524 million yuan - 2025: 572 million yuan - 2026: 645 million yuan - 2027: 720 million yuan - Gross Margin: - 2024: 33.39% - 2025: 35.68% - 2026: 35.87% - 2027: 35.51% [2][7]. Key Financial Ratios - Earnings Per Share (EPS): - 2024: 0.51 yuan - 2025: 0.56 yuan - 2026: 0.63 yuan - 2027: 0.70 yuan - Price-to-Earnings (PE) Ratio: - 2024: 31.76 - 2025: 29.10 - 2026: 25.80 - 2027: 23.13 [2][7].