Envicool(SZ:002837)2024-03-04 16:00Investment Rating - The report maintains a "Recommended" rating for the company [7]. Core Views - The company is expected to benefit from the gradual release of production capacity at its South China headquarters, which has recently upgraded its R&D and manufacturing capabilities [7]. - The company has established a comprehensive product layout in liquid cooling, which is anticipated to drive long-term growth [7]. - The company is positioned as a leader in the industry, with a strong focus on energy-efficient thermal control solutions, and is expected to gain market share as demand for liquid cooling cabinets increases [7]. Financial Forecast Summary - Revenue is projected to grow from 36.25 billion CNY in 2023 to 63.29 billion CNY in 2025, with growth rates of 24.01%, 33.34%, and 30.94% respectively [7]. - The diluted EPS is expected to increase from 0.68 CNY in 2023 to 1.14 CNY in 2025, with corresponding PE ratios of 44.45, 33.55, and 26.61 [7]. - The company achieved a revenue of 2.072 billion CNY in the first three quarters of 2023, representing a year-on-year increase of 39.51%, and a net profit of 210 million CNY, up 79.91% [7].