格隆汇2月3日｜财信证券研报指出，蓝思科技是全球精密制造龙头，多极增长开启新篇章。公司以"新 材料、新技术、新装备、新领域"战略为指引，依托在玻璃、金属、陶瓷等多种材料的深厚技术积累与 强大的平台化能力，实现了从原材料生产、功能模块贴合到整机组装的垂直整合能力。展望未来，公司 通过持续高强度的研发投入与全球化产能网络布局，构建起驱动技术创新与快速响应市场的双重引擎， 有望在AI硬件升级与汽车智能化浪潮中持续获取增长动能。未来，公司将积极向"AI时代的智能硬件制 造商"转型，推动组装业务与高附加值部件协同发展，优化盈利结构，增长动力清晰且多元。公司开拓 汽车电子赛道，构筑第二增长引擎；前瞻布局新兴市场，培育未来增长动能。公司业务覆盖消费电子、 智能汽车领域及人形机器人、AI眼镜/XR头显、智慧零售设备、AI数据中心等新兴领域，形成多场景协 同发展的业务布局。对应当前价格的PE为38.69/28.46/22.92倍，维持"增持"评级。 ...

Core Viewpoint - Luxshare Precision announced its 2025 annual performance forecast, expecting a net profit attributable to shareholders in the range of 16.518 billion to 17.186 billion yuan, representing a year-on-year growth of 23.59% to 28.59% [3] Group 1: Financial Performance - The forecasted net profit for 2025 is between 16.518 billion and 17.186 billion yuan, compared to 13.366 billion yuan in 2024, indicating a growth of 23.59% to 28.59% [3] - The net profit after deducting non-recurring gains and losses is expected to be between 13.841 billion and 14.810 billion yuan, showing a year-on-year increase of 18.36% to 26.64% [3] - The basic earnings per share are projected to be between 2.28 and 2.37 yuan, up from 1.86 yuan in 2024, reflecting a growth of 22.58% to 26.34% [3] Group 2: Strategic Initiatives - The company is deepening its globalization strategy, enhancing service resilience by closely aligning with customer needs and leveraging overseas production bases [4] - Cost reduction and efficiency enhancement are driven by the integration of smart manufacturing and AI technology, optimizing production processes and supply chain management [5] - The company is diversifying its business by investing in emerging fields such as AI hardware, data center interconnectivity, thermal management, smart vehicles, and robotics, creating a more resilient business matrix [6]