Core Viewpoint - Yatu High-tech (872924.BJ) is set to go public on the Beijing Stock Exchange, showcasing strong financial performance and a solid growth strategy in the automotive repair paint sector, highlighting its long-term investment value [2][3]. Financial Performance - The company's gross profit margin is projected to increase from 35.39% in 2022 to 44.00% in 2024, driven by revenue growth from high-margin regions (mainly the U.S. and Russia), product structure upgrades, and effective raw material cost control [2]. - By the end of 2024, the company expects to have cash reserves of 370 million yuan, ensuring sufficient funds for business expansion [2]. - The net cash flow from operating activities is expected to exceed 350 million yuan from 2022 to 2024, indicating robust cash flow health [2]. - For the first nine months of 2025, the company forecasts revenue between 570 million to 610 million yuan, with net profit expected to be between 115 million to 125 million yuan, reflecting a year-on-year growth of 9.68%-17.38% and 11.57%-21.27% respectively, indicating strong growth certainty [2]. Industry Position - Yatu High-tech ranks third in the "Top 5 Automotive Repair Paint Brands in China" published by "Coating World," following international giants PPG and Axalta, showcasing its strong market position as a leading domestic brand [3]. - The company plans to raise 431 million yuan for five core projects, including the construction of a water-based paint intelligent production line to alleviate current capacity bottlenecks, and an upgraded R&D center focusing on low VOCs and new energy vehicle coatings [3]. - The digital integration center project aims to enhance supply chain and customer service efficiency, creating a synergistic growth pattern of "capacity + technology + channels" to further solidify its advantage in the automotive repair paint sector and explore new market opportunities in automotive interiors and rail transit coatings [3].