路维光电：拟收购成都路维部分股权，进一步提升整体管理效率

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company plans to acquire a 49% stake in Chengdu Luwei to enhance overall management efficiency [16] - The acquisition is expected to improve control over the subsidiary and optimize resource allocation [16] - The projected net profits for 2024, 2025, and 2026 are estimated at 2.08 billion, 2.73 billion, and 3.39 billion respectively, with corresponding P/E ratios of 25.03, 19.12, and 15.40 [16] Financial Summary - The company reported a revenue of 6.72 billion for 2024E, with a year-on-year growth of 30.9% [10] - The net profit attributable to the parent company for 2024E is projected at 1.49 billion, reflecting a 40.0% increase year-on-year [10] - The gross margin is expected to improve from 35.1% in 2023A to 36.3% in 2024E [10] - The return on equity (ROE) is forecasted to rise from 10.2% in 2023A to 12.5% in 2024E [10] - The company’s total assets are projected to grow from 23.23 billion in 2023A to 30.77 billion in 2026E [17]