Group 1 - The core viewpoint of the news is that Jianshun Investment has conducted research on a listed company, specifically Leisai Intelligent, which is expected to achieve significant revenue and profit growth in the coming years [1] - Leisai Intelligent anticipates a revenue of 1.584 billion yuan in 2024, representing a year-on-year increase of 11.93%, and a net profit of 200.5 million yuan, reflecting a year-on-year growth of 44.67% [1] - The company has adopted a channel-focused strategy, complementing it with direct sales, and has successfully introduced over 100 new channel partners, totaling more than 200 partners and establishing over 30 offices [1] Group 2 - Leisai Intelligent's strategic focus is on the "smart manufacturing" main channel while also developing the "mobile robot" auxiliary channel, indicating a clear growth strategy [1] - The company aims for a revenue growth of 20%-30% and a net profit increase of 30%-50% by 2025, highlighting its ambitious growth targets [1] - The business is concentrated on two core markets: general automation and humanoid robots, which present significant future growth potential [1]

Group 1 - The company reported a revenue of 1.584 billion yuan in 2024, an increase of 11.93% year-on-year, and a net profit of 200 million yuan, up 44.67% year-on-year [1] - In Q4 2024, the company achieved a revenue of 429 million yuan, representing an 18.68% year-on-year growth and a 29.25% quarter-on-quarter increase [1] - For Q1 2025, the company recorded a revenue of 390 million yuan, a 2.36% year-on-year increase but a 9.00% decrease quarter-on-quarter [1] Group 2 - The company increased its R&D investment in servo and PLC products, with R&D expenses of 195 million yuan in 2024 and 48 million yuan in Q1 2025, representing 12.30% and 12.40% of revenue respectively [2] - The servo system business generated a revenue of 709 million yuan in 2024, growing by 11.37% year-on-year, while the stepper system business revenue was 606 million yuan, up 3.01% year-on-year [2] - The control technology business saw a revenue of 252 million yuan, a significant increase of 46.68% year-on-year, with PLC product revenue soaring by 88.16% [2] Group 3 - The company has been focusing on the robotics industry since 2018, successfully developing key products such as high-density frameless torque motors and servo drives by the end of 2023 [3] - In March 2025, the company launched the DH series dexterous hand solutions, which include models with 11, 20, and 24 degrees of freedom, applicable in industrial, commercial, and home scenarios [3] - The company maintains a "buy" rating, with projected EPS for 2025, 2026, and 2027 at 0.86 yuan, 1.06 yuan, and 1.30 yuan, corresponding to PE ratios of 52x, 42x, and 35x respectively [3]

机械设备行业 买入（维持） 2025Q1 盈利能力提升，PLC 产品营收高增 雷赛智能（002979）2024 年报及 2025 年一季报点评 2025 年 4 月 30 日 投资要点： 事件：雷赛智能发布2024年报及2025年一季报。 点评： 本报告的风险等级为中风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 分析师：谢少威 SAC 执业证书编号： S0340523010003 电话：0769-23320059 邮箱： xieshaowei@dgzq.com.cn | 主要数据 2025 年 | 4 月 | 29 | 日 | | --- | --- | --- | --- | | 收盘价(元) | | 46.49 | | | 总市值（亿元） | | 143.02 | | | 总股本(亿股) | 3.08 | | | | 流通股本(亿股) | 2.18 | | | | ROE（TTM） | | 13.04% | | | 12 月最高价(元) | | 57.40 | | | 12 月最低价(元) | | 17.34 | | 公 司 ...