Zhejiang Jiemei Electronic And Technology (SZ:002859) HUAXI Securities·2026-03-17 03:26Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company is acquiring 100% of Efoos Technology to enter the ultra-precision processing equipment sector, expanding its business from electronic packaging materials [2][3] - Efoos Technology's core product, the ion beam polishing machine, achieves atomic-level surface processing and is widely used in semiconductor, aerospace, and high-end optical device manufacturing [3][5] - The management team of Efoos has extensive technical expertise, with backgrounds in national defense technology and significant contributions to major scientific projects [4] Financial Performance and Projections - The company reported a revenue of 115.7 million yuan for electronic-grade film materials in 2023, a year-on-year increase of 61.29% [7] - Revenue projections for 2025-2027 are 2.186 billion, 2.890 billion, and 3.641 billion yuan respectively, with corresponding net profits of 263 million, 435 million, and 655 million yuan [8][10] - The expected earnings per share (EPS) for 2025-2027 are 0.61, 1.01, and 1.52 yuan, with price-to-earnings (PE) ratios of 69.71x, 42.22x, and 28.06x respectively [8][10]