Wanma Tech(300698) 东方财富证券·2024-03-28 16:00Investment Rating - The report maintains a rating of "Accumulate" for the company [7]. Core Insights - The company has shown rapid growth in net profit, achieving a 109.63% year-on-year increase, with a total net profit of 64.45 million yuan for 2023 [5]. - The company is actively developing an autonomous driving cloud platform and has established partnerships to enhance its capabilities in this area [3][4]. - The company’s revenue for 2023 reached 520 million yuan, reflecting a growth of 2.35% compared to the previous year [5]. Summary by Sections Company Performance - In 2023, the company reported a revenue of 520 million yuan, with a net profit of 64.45 million yuan, marking a significant increase of 109.63% year-on-year [5]. - The company’s vehicle networking business is performing well, contributing to steady revenue growth and gradual profitability [5]. Strategic Developments - The company participated in the 2024 World Mobile Communications Conference, engaging with industry leaders to discuss advancements in vehicle networking and autonomous driving technologies [2]. - A strategic cooperation agreement was signed with FAW Fusheng to collaborate on data cloud platform construction and autonomous driving simulation [3]. - The company is also exploring partnerships with Langge Technology to develop high-performance computing platforms for autonomous driving applications [3]. Market Position and Future Outlook - The company is well-positioned in the vehicle networking sector, with plans to expand its services and capabilities in autonomous driving [4][14]. - The report projects revenue growth for the company, estimating revenues of 520 million yuan in 2023, 593.54 million yuan in 2024, and 709.11 million yuan in 2025 [15].