SUPCON Technology (SH:688777) GOLDEN SUN SECURITIES·2026-03-22 03:24Investment Rating - The report maintains an "Accumulate" rating for the company [4][6] Core Insights - The company has been recognized as one of the "Top 50 Brands in Automation and Digitalization in China," ranking 8th, showcasing its leadership in industrial AI [2] - The company has successfully deployed the world's first Autonomous Operating Plant (AOP) at Xingfa Group, significantly reducing workforce from 260 to 80 and saving over 40 million yuan in construction costs, while improving overall efficiency by 1%-3% [3] - The company has made substantial advancements in its industrial AI strategy, including the release of an upgraded time series model (TPT) and the development of a SaaS platform, enhancing factory autonomy [2] Financial Performance - The projected revenue for 2025-2027 is estimated at 8.056 billion, 9.125 billion, and 10.817 billion yuan respectively, with net profits expected to be 474 million, 831 million, and 1.259 billion yuan [4][5] - The company reported a revenue growth rate of 30.1% in 2023, followed by a projected decline of 11.8% in 2025, and a recovery with growth rates of 13.3% and 18.5% in 2026 and 2027 respectively [5][10] - The latest diluted EPS is projected to be 0.60 yuan in 2025, increasing to 1.05 yuan in 2026 and 1.59 yuan in 2027 [5][10]