Allwinner Technology (SZ:300458) Minsheng Securities·2024-03-31 16:00Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 19.41 CNY [11]. Core Insights - The company has shown steady revenue growth, with a 10.49% increase in total revenue for 2023, amounting to 1.673 billion CNY. However, the net profit attributable to shareholders decreased by 89.12% to 22.96 million CNY [10][11]. - The company is focusing on research and development, launching new chip products and solutions across various sectors, which is expected to drive future growth [10]. - The company is actively participating in the AI wave, with product upgrades in smart industrial, robotics, home appliances, and visual technology sectors [10]. - Strategic partnerships with major clients like Xiaomi, Tencent, and Alibaba are being leveraged to enhance product offerings and market presence [10]. Financial Summary - Projected revenues for 2024, 2025, and 2026 are 2.16 billion CNY, 2.77 billion CNY, and 3.49 billion CNY, respectively, with growth rates of 29.1%, 28.1%, and 26.1% [2][10]. - The net profit attributable to shareholders is expected to rebound significantly, with projections of 154 million CNY in 2024, 286 million CNY in 2025, and 394 million CNY in 2026, reflecting growth rates of 570.5%, 85.5%, and 37.8% [2][10]. - The company's PE ratio is projected to decrease from 534 in 2023 to 31 by 2026, indicating improved valuation as earnings grow [2][10].