Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [4][11]. Core Insights - The company has shown steady operational performance with a gradual recovery in profitability. In 2024, it achieved a revenue of 5.108 billion yuan, a year-on-year increase of 12.50%, and a net profit attributable to shareholders of 91.25 million yuan, up 81.43% year-on-year. This improvement is attributed to product innovation, expansion of brand clients, and increased shipment volumes [1][4]. - The company focuses on the consumer battery sector, with product lines including square lithium-ion batteries, cylindrical lithium-ion batteries, button soft-pack and button steel-shell lithium-ion batteries, and nickel-hydrogen batteries. The consumer battery business has shown steady growth, with square lithium-ion battery revenue reaching 2.917 billion yuan, up 18.54%, and cylindrical lithium-ion battery revenue at 1.598 billion yuan, up 33.30% in 2024 [2][4]. - The company is pursuing a dual-track development strategy, focusing on core business deepening and breakthroughs in emerging sectors. It has successfully expanded partnerships with leading global tech companies such as Dell, Microsoft, Xiaomi, and iRobot, while also exploring new market opportunities in AI+ hardware [3][4]. Financial Performance Summary - The company’s revenue is projected to grow from 6.221 billion yuan in 2025 to 8.505 billion yuan in 2027, with year-on-year growth rates of 21.78%, 17.94%, and 15.92% respectively. Net profit attributable to shareholders is expected to increase significantly, reaching 210.44 million yuan in 2025, 327.14 million yuan in 2026, and 421.43 million yuan in 2027, with corresponding year-on-year growth rates of 130.61%, 55.46%, and 28.82% [4][6].