LZJT(SZ:300428) China Post Securities·2024-05-22 08:30Investment Rating - The report maintains a "Buy" rating for the company [4][8]. Core Insights - The company’s subsidiary, Tianjin Xinlizhong Alloy, has recently obtained certification for heat-free alloy materials from a leading new energy vehicle manufacturer, indicating strong customer recognition of the product's performance [8]. - The certification is expected to accelerate the mass production of heat-free alloy materials, enhancing the company's profitability and market share [8]. - The company is positioned as a pioneer in the domestic market for integrated die-casting heat-free alloy materials, with strong international competitiveness due to its innovative product offerings [8]. - The integrated die-casting market is anticipated to grow rapidly, with the heat-free alloy market projected to reach 9.91 billion yuan domestically and 17.28 billion yuan globally by 2025 [8]. Financial Summary - The total market capitalization is 13.1 billion yuan, with a circulating market capitalization of 11.1 billion yuan [2]. - The company’s debt-to-asset ratio stands at 63.3% [3]. - The projected revenue for 2024-2026 is expected to grow from 30.29 billion yuan to 43.16 billion yuan, with corresponding net profits increasing from 1.066 billion yuan to 1.393 billion yuan [9][16]. - The earnings per share (EPS) are forecasted to rise from 1.69 yuan in 2024 to 2.20 yuan in 2026, with price-to-earnings (P/E) ratios decreasing from 12.27 to 9.40 [9][16].