Autel(SH:688208) Guoyuan Securities·2026-01-22 09:15Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [6][10]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 900 million to 930 million yuan for the year 2025, representing a year-on-year increase of 25.9 million to 28.9 million yuan, or a growth of 40.42% to 45.10% [1]. - The company is fully embracing AI, leading to significant growth in its performance, particularly in the fields of intelligent vehicle diagnostics and smart energy management [2]. - The company has submitted an application for listing H shares on the Hong Kong Stock Exchange, further strengthening its global presence [3]. - The company focuses on automotive digital maintenance and intelligent charging solutions, with a broad growth potential in the future [4]. Financial Projections - The revenue forecast for 2025 is adjusted to 4.918 billion yuan, with net profit projections of 913.62 million yuan, and an EPS of 1.36 yuan per share [4][7]. - The company anticipates a revenue growth rate of 25.06% for 2025, with a net profit growth rate of 42.55% [7][9]. - The projected P/E ratios for 2025, 2026, and 2027 are 28.27, 22.17, and 18.18 respectively, indicating a favorable valuation trend [4][7].