业绩增速回升，产品结构持续完善

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase of over 15% compared to the benchmark index within the next 6 to 12 months [12][14]. Core Views - The company is a leading domestic automotive connector supplier, benefiting from high industry demand and the potential for domestic substitution. New products and projects are expected to drive accelerated performance growth [12][10]. - The profit forecast for 2024-2026 is adjusted to net profits of 1.27 billion, 1.82 billion, and 2.57 billion respectively, with corresponding EPS of 0.30, 0.43, and 0.60 [12][10]. Summary by Sections Financial Performance - The company achieved a revenue of 1.09 billion in 2023, with a year-on-year growth of 17% [1]. - Net profit for 2023 is projected at 720 million, reflecting a growth of 5.33% year-on-year [1]. - The company’s earnings per share (EPS) are expected to increase to 0.30 in 2025 and 0.43 in 2026 [1][12]. Market Position - The company has developed over 2000 automotive connectors and components, with clients including major automotive parts manufacturers and brands such as BYD and Tesla [3][10]. - The company is expanding its production capacity for new energy connectors and enhancing its R&D capabilities to support product upgrades [10][12]. Strategic Initiatives - The company is focusing on the automotive electrification and intelligentization trends, investing in automotive connector fields and improving its product offerings [3][10]. - It plans to collaborate with universities for research and development, aiming to enhance its automotive intelligence layout [3][10].