CFMEE(688630) 中泰证券·2024-07-25 01:30Investment Rating - The report maintains an "Accumulate" rating for the company [3]. Core Insights - The company is experiencing rapid growth in performance, particularly in PCB and semiconductor equipment sectors [3]. - For Q2 2024, the company is expected to achieve revenue between 237-253 million yuan, representing a year-on-year growth of 46.43%-56.28%, and a net profit of 59-63 million yuan, with a year-on-year increase of 50.95%-60.23% [3]. - The company is focusing on product upgrades and expanding its global presence, particularly in Southeast Asia, to enhance its competitiveness in the high-end PCB market [3]. - The company is diversifying its product matrix in the semiconductor sector, continuously innovating and launching new products to support future growth [3]. Financial Forecasts - The company’s revenue is projected to grow from 1,112 million yuan in 2024 to 2,097 million yuan in 2026, with corresponding net profits expected to rise from 257 million yuan to 465 million yuan during the same period [3]. - The report forecasts a PE ratio decline from 29.3 in 2024 to 16.2 in 2026, indicating an improving valuation as earnings grow [3]. - The company’s return on equity (ROE) is expected to increase from 11% in 2024 to 15% in 2026, reflecting enhanced profitability [3].