Raytron(SH:688002) East Money Securities·2024-05-09 11:00Investment Rating - The report maintains a rating of "Add" for the company, based on the gradual expansion of market space in the microwave and laser multi-dimensional sensing fields [7][21]. Core Insights - The company, Ruichuang Micro-Nano, has achieved significant growth in revenue and profit in 2023, with total revenue reaching 3.558 billion, a year-on-year increase of 34.5%, and a net profit attributable to the parent company of 495 million, up 58.21% year-on-year [1][21]. - The company is focusing on multi-product line technology research and development, with breakthroughs in photon devices, visual products, outdoor products, automotive applications, microwave technology, and laser sensing technology [1][21]. - The company has established a high-efficiency platform advantage, with significant production capacity for infrared detectors and related products, including an annual production capacity of 800,000 metal and ceramic packaged infrared detectors [1][21]. Financial Summary - For 2023, the company reported a total revenue of 3.558 billion, with a projected revenue of 4.548 billion for 2024, 5.704 billion for 2025, and 7.063 billion for 2026, reflecting growth rates of 34.5%, 27.8%, 25.43%, and 23.81% respectively [11][21]. - The net profit attributable to the parent company for 2023 was 495 million, with projections of 778 million for 2024, 1.023 billion for 2025, and 1.304 billion for 2026, corresponding to growth rates of 58.21%, 56.86%, 31.56%, and 27.46% respectively [11][21]. - The company's earnings per share (EPS) are projected to be 1.11 yuan for 2023, 1.74 yuan for 2024, 2.29 yuan for 2025, and 2.92 yuan for 2026 [11][21].