Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 44.46 CNY [3][6]. Core Insights - The company plans to acquire Deep Blue Co., which is expected to enhance its data center liquid cooling layout and increase profitability [2][10]. - The financial forecasts for EPS from 2025 to 2027 are projected to be 1.14 CNY, 1.51 CNY, and 1.93 CNY respectively, with a maintained average PE valuation of 39 times for comparable companies in 2025 [3]. - The acquisition of Deep Blue Co. will strengthen the company's capabilities in controllers and drivers, particularly in the data center liquid cooling sector, which is anticipated to contribute positively to revenue and profit growth [10]. Financial Summary - The company's revenue is projected to grow from 11,018 million CNY in 2023 to 21,502 million CNY in 2027, reflecting a compound annual growth rate (CAGR) of approximately 18.5% [5][11]. - Operating profit is expected to increase from 816 million CNY in 2023 to 2,107 million CNY in 2027, with a notable growth rate of 67.7% in 2023 [5][11]. - The net profit attributable to the parent company is forecasted to rise from 612 million CNY in 2023 to 1,631 million CNY in 2027, with a growth rate of 59.7% in 2023 [5][11]. - The gross margin is projected to improve slightly from 20.5% in 2023 to 21.7% in 2027, while the net margin is expected to increase from 5.6% to 7.6% over the same period [5][11].

Core Insights - Huizhou Desay SV Automotive Electronics Co., Ltd. has raised 4.393 billion RMB through a targeted issuance of shares, with participation from various investment institutions [1][2]. Financing Details - The financing round was a targeted issuance, amounting to 4.393 billion RMB, and involved multiple investors including Caifeng Fund, Nord Fund, National Green Development Fund, and others [1][2]. - The company has a history of financing activities, including a previous IPO in December 2017 that raised 2.042 billion RMB [2]. Company Background - Established in November 1986, Huizhou Desay SV Automotive Electronics Co., Ltd. was originally a Sino-German joint venture and became a subsidiary of Desay Group in March 2010 [2]. - The company focuses on the research and manufacturing of automotive infotainment systems, air conditioning controllers, driver information display systems, display modules and systems, intelligent driving assistance systems, and vehicle networking products [2].

Core Viewpoint - Desay SV Automotive's stock price increased by 0.66% to 103.31 yuan as of August 5, 2025, with a trading volume of 49,160 hands and a transaction amount of 507 million yuan, indicating positive market sentiment towards the company [1] Group 1: Company Overview - Desay SV Automotive specializes in the research, production, and sales of automotive electronic products, including in-car infotainment systems, air conditioning controllers, and driver information display systems [1] - The company's products are widely used in passenger cars and commercial vehicles [1] Group 2: Recent Developments - The latest information disclosed by the company indicates that its advanced driver assistance domain control products have been supplied to various clients, including Li Auto, Xpeng Motors, Zeekr, Great Wall Motors, GAC Aion, and Lotus [1] - On August 5, a block trade occurred involving 107,000 shares, with a transaction amount of 9.99 million yuan, at a discount of 9.6% compared to the closing price of the day [1] Group 3: Financial Metrics - On August 5, the net inflow of main funds was 29.88 million yuan, accounting for 0.05% of the circulating market value [1] - Over the past five days, the net outflow of main funds was 26.76 million yuan, also representing 0.05% of the circulating market value [1]