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锐明技术:2024年年报及2025年一季报点评:积极布局AI技术,国内外行业红利持续释放-20250427
Minsheng Securities· 2025-04-27 01:20
Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 50.39 CNY [7]. Core Insights - The company achieved significant revenue growth in 2024, with total revenue reaching 2.777 billion CNY, a year-on-year increase of 63.45%. The net profit attributable to shareholders was 290 million CNY, up 184.50% year-on-year [1]. - In Q1 2025, the company reported revenue of 515 million CNY, a 2.53% increase year-on-year, and a net profit of 101 million CNY, reflecting an 89.60% year-on-year growth [1]. - The company has strategically divested its low-margin electronic product processing subsidiary, leading to a notable increase in gross margin, which reached 47.7% in Q1 2025, up 4.2 percentage points year-on-year [2]. - The company is actively embracing AI technology, launching the "Vision Zero Booster" safety solution, which integrates AI with hardware for comprehensive safety management [3]. - The dual policy drive from domestic and international markets is accelerating the company's global market expansion, particularly in the commercial vehicle safety and information sectors [4]. - The company is expected to benefit from the integration of AI technology and its extensive industry experience, with projected net profits of 449 million CNY, 611 million CNY, and 793 million CNY for 2025, 2026, and 2027, respectively [4]. Financial Summary - For 2024, the company reported total revenue of 2,777 million CNY, with a projected revenue decrease of 8.7% to 2,536 million CNY in 2025, followed by a recovery to 3,217 million CNY in 2026 and 4,005 million CNY in 2027 [6][10]. - The net profit attributable to shareholders is forecasted to grow from 290 million CNY in 2024 to 449 million CNY in 2025, 611 million CNY in 2026, and 793 million CNY in 2027, indicating a strong growth trajectory [6][10]. - The earnings per share (EPS) are projected to increase from 1.64 CNY in 2024 to 2.53 CNY in 2025, reaching 3.45 CNY in 2026 and 4.47 CNY in 2027 [6][10].
锐明技术(002970):2024年年报及2025年一季报点评:积极布局AI技术,国内外行业红利持续释放
Minsheng Securities· 2025-04-27 01:01
Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 50.39 CNY [7]. Core Insights - The company achieved significant growth in 2024, with revenue reaching 2.777 billion CNY (up 63.45% year-on-year), and net profit attributable to shareholders at 290 million CNY (up 184.50% year-on-year) [1]. - In Q1 2025, the company reported revenue of 515 million CNY (up 2.53% year-on-year) and a net profit of 101 million CNY (up 89.60% year-on-year) [1]. - The company is actively embracing AI technology, launching the "Vision Zero Booster" solution aimed at enhancing safety through AI and hardware integration [3]. - The company has divested its low-margin electronic product processing subsidiary, leading to a significant increase in gross margin, which reached 47.7% in Q1 2025, up 4.2 percentage points year-on-year [2]. - The company is positioned to benefit from domestic and international policy support, particularly in the commercial vehicle safety and information technology sectors, with a focus on expanding its global market presence [4]. Financial Summary - The company forecasts net profits of 449 million CNY, 611 million CNY, and 793 million CNY for 2025, 2026, and 2027 respectively, with corresponding EPS of 2.53 CNY, 3.45 CNY, and 4.47 CNY [4][6]. - The projected PE ratios for the company are 20, 15, and 11 for the years 2025, 2026, and 2027 respectively [4][6]. - The company’s revenue is expected to decline to 2.536 billion CNY in 2025 before rebounding to 3.217 billion CNY in 2026 and 4.005 billion CNY in 2027 [6][11].
时的科技和Autocraft达成战略合作,共同开拓E20 eVTOL中东市场
IPO早知道· 2024-11-06 13:18
标志着时的科技正式进军海外市场。 本文为IPO早知道原创 作者|Stone Jin 微信公众号|ipozaozhidao 据IPO早知道消息,在11月6日第七届中国国际进口博览会现场,TCab Tech时的科技与海外战略合 作伙伴Autocraft共同签署合作协议。双方将共同探索和开拓E20 eVTOL在阿联酋低空旅游、空中 出行等多元化的商业应用市场。 作为中东商贸中枢和海湾开放门户,eVTOL有着广阔的应用场景和市场需求。 同时,阿联酋积极推 动创新,出台了一系列支持高科技领域发展的政策。其中,引入eVTOL空中出租车服务的计划是 2030智慧自主交通战略的一部分,这些政策不但强调了现代化交通系统的重要性,更为新技术的引 入创造了良好的环境。 阿联酋,是全球知名的金融、贸易和交通中心之一。总部位于阿布扎比的Autocraft依托地理和政策 优势,致力于可持续的城市交通解决方案,布局投资智能交通相关项目,并与多个国际机构和企业合 作,推动技术创新。 双方达成合作,将时的科技在eVTOL研发制造的优势与Autocraft在阿联酋本土的政策、地理、运营 以及市场优势相结合,共同推动"空中的士"的发展,打造更高效 ...
武汉170.84亿元车路云一体化项目落地,行业发展进一步加速 | 国君计算机李沐华团队
计算机文艺复兴· 2024-06-16 23:36
车路协同建设规模或超预期,车、路、云三端智能化市场前景广阔。 在我们6月11日发布的行业专题报告《车路协同产业即将进入爆发期》中,仅考虑示范区 城市,依据北京订单规模与GDP比例,我们测算车路协同市场空间超千亿,其中上海、深圳、广州超90亿元,重庆、成都、武汉等超50亿元。此次武汉车路 云大单总体金额达到171亿元,虽然项目建设方向不尽相同,但也意味着后续全国各地车路协同建设整体订单规模或超市场预期,车、路、云三端智能化市场 前景广阔。此外,从长期来看,车路云建设也为ETC2.0和低空经济运营等构筑了基础设施条件,将对交通领域的新业态进行深度赋能。 武汉车路云大单金额更大,拟立即开工。 2024年6月14日,湖北省投资项目在线审批监管平台显示,武汉市智能网联新能源汽车"车路云"一体化重大示范项 目获得市发改委同意批复,项目单位为国有企业武汉车网智联测试运营管理有限公司,总投资170.84亿元,与5月31日北京市车路云一体化新型基础设施建设 项目(初步设计、施工图设计)招标公告显示的99.39亿元投资额相比,金额更大,且拟开工时间为2024年6月,意味着完成备案后立即开工。 项目建设范围相对较广,提升智慧道路覆 ...
车路协同产业即将进入爆发期(深度)| 国君计算机李沐华团队
计算机文艺复兴· 2024-06-15 07:59
车路协同是新质生产力在交通领域的重要表现形式,市场空间超千亿。 发展新质生产力是2024年政府十大任务之首,车路协同是新质生产力在交通领 域的重要表现形式,其重要性不言而喻,且相对于量子计算等未来技术,短期落地的可能性高,在政策端受到大力支持。随着北京车路云一体化项目大 单落地,车路协同行业将进入爆发期。我们测算,城际高速信息化市场空间超千亿,城市内部道路信息化试点城市市场空间也达千亿。 车路协同串联人车路云。 车路协同是指车辆与道路基础设施之间通过无线通信技术进行信息交换和共享,实现协同工作的一种智能交通系统。 其目的是优化系统资源、提高道路交通安全、缓解交通拥堵,构建更加安全、高效、环保的交通出行。主要包括四大关键技术:智能车载技术、 智能路侧技术、通信技术、云控技术。 车、路、云三端智能化市场前景广阔。 单车智能化方面,智能车载终端是车路协同中安装在汽车中的与路侧单元进行通讯交互的核心设备,通过 C-V2X车载终端可以实现包括车与车、路、人、网络之间的交互,政策催化下预计未来将迎来大规模装车。路端智能化方面,包括激光雷达、毫 米波雷达、摄像头在内的传感器相互融合是实现车路协同的必要条件。云端智能化方面, ...