Lucky Harvest(002965) 华鑫证券·2025-02-23 09:27Investment Rating - The report maintains a "Buy" investment rating for the company [7] Core Viewpoints - The company's main business is stable, focusing on precision stamping molds and metal structural components for electric vehicles and energy storage equipment [1][2] - The company has established strong partnerships with well-known domestic and international clients, becoming a first-tier supplier for major automotive manufacturers [1] - Future plans include expanding into humanoid robots and low-altitude economic sectors, indicating a strategic shift towards new production capabilities [3][6] Summary by Relevant Sections Business Overview - The company produces precision stamping molds and metal structural components for electric vehicles, fuel vehicles, and energy storage equipment, with significant revenue contributions from electric vehicle components [1][2] - In the first three quarters of 2024, the company reported revenue of 4.878 billion yuan, a year-on-year increase of 24.88%, with net profit reaching 269 million yuan [2] Future Planning - The company aims to develop humanoid robots and low-altitude economic sectors, collaborating with research institutions to innovate in key components for humanoid robots [3][6] - The strategic focus on humanoid robots is expected to provide comprehensive solutions from molds to structural components based on customer needs [3] Financial Forecast - Projected revenues for 2024, 2025, and 2026 are 6.861 billion yuan, 8.478 billion yuan, and 10.267 billion yuan respectively, with corresponding net profits of 462 million yuan, 501 million yuan, and 542 million yuan [7][9] - The company is expected to maintain a stable growth trajectory, with a projected PE ratio of 24.8, 22.9, and 21.1 for the years 2024, 2025, and 2026 respectively [7][9]