赛腾股份：业绩提升超预期，半导体量测设备迎来增长新机会

Investment Rating - The report initiates coverage with a "Buy" investment rating for the company [2]. Core Insights - The company has experienced significant revenue growth, achieving a revenue of 4.446 billion yuan in 2023, representing a year-on-year increase of 51.76%. The net profit attributable to shareholders reached 0.687 billion yuan, up 123.72% year-on-year [2][15]. - The company is strategically positioned in the consumer electronics, semiconductor, and new energy sectors, with a focus on enhancing its product offerings in automated equipment for these industries [2][15]. - The report forecasts revenues for 2024, 2025, and 2026 to be 5.473 billion yuan, 6.700 billion yuan, and 8.052 billion yuan, respectively, with corresponding EPS of 4.08 yuan, 4.79 yuan, and 5.81 yuan [2][17]. Revenue and Profit Forecast - The company is expected to maintain strong revenue growth rates of 23.1% in 2024, 22.4% in 2025, and 20.2% in 2026 [17]. - The net profit attributable to shareholders is projected to grow to 0.817 billion yuan in 2024, 0.959 billion yuan in 2025, and 1.164 billion yuan in 2026, with growth rates of 18.9%, 17.4%, and 21.4%, respectively [17]. - The diluted EPS is forecasted to increase from 3.43 yuan in 2023 to 4.08 yuan in 2024, 4.79 yuan in 2025, and 5.81 yuan in 2026 [17]. Market Position and Product Development - The company has developed advanced wafer edge detection systems that integrate laser optical technology, enhancing defect detection capabilities in semiconductor manufacturing processes [2]. - The acquisition of OPTIMA has allowed the company to enter the wafer measurement equipment market, securing bulk orders from major semiconductor manufacturers [2][15]. - The company is benefiting from the increasing penetration of new technologies in consumer electronics, such as periscope lenses and foldable screens, which are driving demand for its manufacturing equipment [2][15].