Investment Rating - The report maintains an "Overweight" rating for the company [3][5] Core Views - The company has shown significant growth in revenue and gross margin for 2024, with a revenue increase of approximately 74% year-on-year, reaching around RMB 2.102 billion [8] - The company's display driver segment is expanding its market share, while its electronic price tags are solidifying its leading position in the market [3][8] - The report anticipates continued growth in earnings per share (EPS), with projections of RMB 0.86 for 2025, RMB 1.10 for 2026, and RMB 1.28 for 2027 [5][8] Financial Summary - The company's main revenue for 2023 is projected at RMB 1,209 million, with a growth rate of 0.9% [7] - For 2024, the expected revenue is RMB 2,102 million, reflecting a growth rate of 73.9% [7] - The projected EBITDA for 2024 is RMB 248 million, with a significant increase in net profit to RMB 275 million, marking a 143.6% growth [7][8] - The gross margin for 2024 is estimated at 21.4%, an increase of 1.4 percentage points year-on-year [8] - The company’s total market capitalization is approximately RMB 10.565 billion, with corresponding price-to-earnings (PE) ratios of 30.1, 23.5, and 20.1 for 2025, 2026, and 2027 respectively [5][7]