2023年业绩高增，盈利能力持续提升

Investment Rating - The report maintains a "Buy" rating for the company, indicating a favorable outlook based on strong performance and competitive market position [1][8]. Core Insights - The company has shown continuous high growth in performance, with a projected revenue increase of 12.96% year-on-year for 2023, and a significant net profit growth of 48.34% [19][21]. - The company is recognized as a domestic leader in the needle bearing segment, successfully breaking foreign technology monopolies through various R&D projects [9][12]. - The company is expanding its market presence in downstream sectors such as aerospace, defense, and robotics, which are expected to become new growth drivers [7][12]. Financial Summary - The company reported total revenue of 636 million yuan for 2023, with a year-on-year growth rate of 12.96% [19]. - The net profit for 2023 is projected to be 124 million yuan, reflecting a 48% increase compared to the previous year [21]. - The earnings per share (EPS) is expected to rise from 0.87 yuan in 2022 to 1.28 yuan in 2023, with further increases anticipated in subsequent years [21][24]. - The company's gross margin is expected to improve significantly, with a projected net profit margin of 19.51% for 2023, up approximately 4.65 percentage points from 2022 [20].