Tricolor(603516) 开源证券·2024-04-18 08:30Investment Rating - The investment rating for the company is "Buy" (maintained) [1][18]. Core Insights - The company has established a partnership with the internationally renowned AI computing leader, Company N, which opens up significant growth opportunities. The collaboration allows the company to supply various testing and detection platforms, including liquid cooling testing platforms and AI-based detection platforms, thereby expanding its long-term growth potential [3]. - The successful launch of three new chip products, including the "Coollights LDV4045," "Zeus0108," and "Thor ULC32A," enhances the company's technological leadership in the industry. These products are expected to contribute to the company's competitive advantage [4]. - The company reported a significant increase in revenue, achieving 499 million yuan in 2023, a year-on-year growth of 31.03%. However, the net profit attributable to the parent company decreased by 41.50% to 17 million yuan due to various factors [31]. Financial Summary - The company's revenue is projected to grow from 499 million yuan in 2023 to 664 million yuan in 2024, reflecting a year-on-year increase of 33.1% [6]. - The net profit attributable to the parent company is expected to rebound significantly to 130 million yuan in 2024, representing a growth of 641.3% compared to 2023 [6]. - The gross margin is forecasted to improve slightly from 43.5% in 2023 to 49.0% in 2024, while the net margin is expected to rise from 3.5% to 19.5% in the same period [6]. - The company's earnings per share (EPS) is projected to increase from 0.09 yuan in 2023 to 0.64 yuan in 2024, with a corresponding price-to-earnings (P/E) ratio decreasing from 354.3 to 47.8 [6][27].