Sharetronic(300857)2024-10-12 01:03Investment Rating - The investment rating for the company is "Buy" [1][3] Core Views - The company is experiencing a significant upgrade in its existing business, with strong demand in the server remanufacturing market and successful progress in its AI computing service layout, which is expected to lead to a period of rapid earnings growth [3][4] - The company has established a solid foundation in AIOT technology and has completed its computing power research and development system, which is crucial for its future growth in the digital economy [2][3] - The company has secured multiple major orders in its new AI computing business, indicating a smooth connection between supply and demand, which is expected to become a new growth point for the company [2][3] Financial Performance and Forecast - The company’s revenue is projected to grow significantly from 7.95 billion yuan in 2024 to 14.99 billion yuan in 2026, with corresponding net profits increasing from 844 million yuan to 1.67 billion yuan during the same period [3][4] - The expected revenue growth rates are 70.64% for 2024, 38.45% for 2025, and 36.25% for 2026, while net profit growth rates are projected at 193.91%, 40.22%, and 41.37% respectively [4][5] - The company's PE ratios are forecasted to decrease from 21 times in 2024 to 11 times in 2026, indicating improving valuation metrics as earnings grow [3][4] Business Developments - The company has made significant advancements in its AI computing business, with partnerships established with major firms such as Japan's UBTECH and China Mobile International, focusing on cloud computing and AI applications [2][3] - The company has built computing power data centers in cities like Shanghai and Hangzhou, enhancing its service capabilities in various sectors including graphics rendering and data analysis [2][3] Market Position - The company is well-positioned to capitalize on the explosive growth in demand for computing power in the digital economy, leveraging its technological advancements and strategic partnerships [2][3]